SpringRole announces the first professional reputation network built on blockchain
Science Blockchain portfolio company SpringRole announced that it will be building the first professional reputation network powered by artificial intelligence and blockchain technology to eliminate fraud from user profiles. The network will give more weight to online professional reputation and will make it possible for people to be rewarded for their endorsements.
Because the network is built on blockchain and uses smart contracts, users are expected to be able to:
● Verify work experience and education: Using blockchain as its foundation, the network will enable employers and educators to easily verify user profile information, which in turn will eliminate people falsifying information about their credentials and experience. The network’s ability to verify user legitimacy through its endorsement protocol is believed to be the first of its kind.
● Give real meaning to endorsements: There will be a small cost associated with making an endorsement, and that cost will increase as people make more endorsements. This will encourage people to be selective when endorsing and in turn will make endorsements more meaningful. Because experience will be verified using blockchain technology, endorsements will also have real meaning. Endorsements from highly qualified people in relevant fields will carry more weight.
● Reward endorsers: Through smart contracts, the network will reward endorsers when the people they’ve endorsed get paid or hired. Instead of companies paying what would normally be a finder’s fee to an individual recruiter, the money will be passed along to the endorsers.
● Get endorsements outside of your network: Members of the network will can have their work reviewed by third-party professionals and will can receive endorsements if the professional feels it’s worthy. These endorsements will help those who don’t have networks built yet and will change the hiring process from “who you know” to “what you know.”
The network will adopt a decentralized cryptocurrency, the SPRING tokens, as the means of payment on the network. Rights to a limited number of SPRING tokens will be sold to certain qualified investors. These are separate from the INVITE tokens, which were previously distributed to SCI token holders and then later airdropped to every ETH wallet. The INVITE token allows people to claim their vanity profile URL on the network by visiting beta.springrole.com. This is the first blockchain-based network incubated by Science Blockchain company.
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Disclaimer: This press release does not constitute an offer to sell or the solicitation of an offer to purchase the Spring tokens or any rights thereto, nor shall there be any offer, solicitation or sale of the Spring tokens or any rights thereto in any jurisdiction in which such offer, solicitation or sale would be unlawful. To the extent the rights to the future Spring tokens are considered securities, such rights have not and will not be registered under the Securities Act or other applicable state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration requirements of the Securities Act and under applicable state laws.
Certain statements, projections or other estimates herein (including estimates of value, functionality or performance) are forward-looking statements and are based upon certain assumptions, and you should not rely on them as predictions of future events. Other events, including unforeseen circumstances, that were not taken into account may occur and may significantly affect the analysis. Any assumptions should not be construed to be indicative of the actual events that will occur. We undertake no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date hereof.