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Phala Network

Professional Diversity Network, Inc. Announces Partnership with Phala Network to Develop Privacy-Protecting Blockchain Application

CHICAGO, December 31, 2020 (GLOBE NEWSWIRE) — Professional Diversity Network, Inc. (NASDAQ: IPDN), (“PDN” or the “Company”), a developer and operator of online and in-person networks that provide access to networking, training, educational and employment opportunities for diverse individuals, today announced its partnership with Phala Network, an innovative technology company that specializes in confidentiality-preserving and privacy-first blockchain application development. (For the recording link, please visit here)

Blockchain technology is known for its decentralization and irreversible features that guarantee secured transactions over consensus algorithms; however, the biggest pitfall is its lack of confidentiality. Phala Network uses the technology of Trusted Execution Environment (TEE) to create a Privacy Cloud Platform that could process general-purpose computing with Turing-completeness.

PDN being one of the largest diverse networks of over 10 million registered users, how to improve the efficiency of matching qualified job seekers with employers and reduce the costs and resources for employers to find the right talent has always been our top priority.

“We are excited to partner with Phala Network to explore potential integration of substrate-based, confidential smart contract blockchain technology into our PDN network,” said Adam He, CEO of PDN. “which could potentially enhance our delivery rate and protect network users’ and clients’ privacy from data-mining.”

Professional Diversity Network, Inc.

Professional Diversity Network, Inc. (PDN) is a developer and operator of online and in-person networks that provides access to networking, training, educational, and employment opportunities for diverse professionals.

Through an online platform and our relationship recruitment affinity groups, we provide our employer clients a means to identify and acquire diverse talent and assist them with their efforts to recruit diverse employees. Our mission is to utilize the collective strength of our affiliate companies, members, partners, and unique proprietary platform to be the standard in business diversity recruiting, networking, and professional development for women, minorities, veterans, LGBT, and disabled persons globally.

For more information about PDN, please visit:www.prodivnet.com

About Phala

A Substrate-based confidential smart contract blockchain on which you can develop confidential-preserving and privacy-first blockchain apps. Member of Substrate Builders Program starting lineup. Recipient of Web3 Foundation Grant.

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