The Career Trust Token
For the past few weeks, we’ve been writing about the reasons that led us to invest our time and expertise into building a completely new career management system.
You already know the “why”. Let’s now discuss the “how”.
CVProof.com is not only inventing a trustworthy career validation process, it is also proposing a new business model that incentivizes all actors taking part in the validation and/or in the sourcing process through a revenue sharing mechanism.
For this purpose, we have designed a genuine ecosystem enabling users to access and offer services (i.e. validation, CV editing, job postings, ads, sourcing, blogs etc) for which they will pay and/or receive a remuneration in INK tokens.
✔️ A Credential Issuer can be sent a request on CVProof to validate a previously issued credential. The Issuer will validate the credential. A career credential can be a — but not limited to — diploma, certificate, work-experience, publication, reference, assessment, etc.
✔️ CVProof can produce on demand an indisputable proof of notarized validation duly stored in the blockchain.
✔️ When applying for jobs, the CV Holder does not need to provide the original documents, as the proof-of-validation constitutes intrinsically a proof of authenticity of the credential.
✔️ The Issuer will be awarded INK tokens for his validation of the credential on CVProof.
The INK Token and Monetization
Any activity between two parties (individuals and entities) is a transaction within the CVProof ecosystem.
For example, a university (A) validating a recent graduate (B)’s diploma on the platform is a transaction that forms part of a service.
The CVProof token ecosystem will create an innovative revenue sharing paradigm by unlocking monetization in the job market. This will be a key factor in successfully rolling out CVProof’s commercial strategy as:
✔️ Data owners and service providers will receive a fair share of the value created in this new economy powered by CVProof.
✔️ Innovative incentives to use the platform will be offered to all stakeholders (employers, recruiters, validators, candidates)
✔️ Credentials validation and authentication will be the first services made available by CVProof on its platform. Other services such as job application, job advertising and sourcing will rapidly follow.
Most importantly CVProof will enable its users to create and sell new services on its platform (consulting, CV design, etc) creating a fully-fledged ecosystem.
That’s very simple. What makes it unique?
All transactions occurring on CVProof platform will be fuelled by the INK token.
How will CVProof charge?
CVProof will earn a commission fee on all services transacted on the platform (validation, authentication, CV editing, job postings, ads, sourcing, post, new services). The fee % will vary according to the type of service.
How will tokens be earned?
Services on CVProof will be settled with INK tokens and not with fiat currency. The price in INK for will be set by the user providing the service, however CVProof will define a price range (min/max) for the core services.
✔️ By performing validation
The credentials owner will pay the validator his/her fees in INK. CVProof will set a floor and cap for the price of this service, enabling the validator to fix the price within the predefined range.
✔️ ️By receiving job applications thru CVProof platform
Job applicants will pay the recruitment agencies and or the employer an application fee in INK. CVProof will set a floor and cap for the price of the job application, enabling the recruiter to fix the price within the predefined range.
✔️ By being sourced as a candidate for a job
Recruiters will pay candidates an interview fee in INK. CVProof will set a floor and cap for the interview fee, enabling the candidate to fix the price within the predefined range.
✔️ By publishing compelling news feed
Users will pay a fee to access and read news feed posted by other users. The fee will be defined by the data owner.
✔️ By creating new services, including selling expertise
Users will be able to create a range of new services and sell them on the platform, receiving remuneration in INK. Price for those services will be set by the users.
Why will INK value increase over time?
As the user base expands, demand for CVProof’s products and services will grow. This will increase the INK demand over time. In addition, the variety of services offered on the platform will lead to increasing volumes of transactions.
As the supply of tokens is capped to the initial tokens created, the increase in demand and transactions will drive the INK value upwards.
✔️ We believe our product addresses an unmet need in a sizeable market and offers a cost effective and technically robust solution.
✔️ We offer a 50% discount during the pre-sale — ending on 31st January 2018 — to accredited investors and during the public sale — starting 1st of March — we will offer early birds up to 25% discount.
✔️ As part of its ambitious user acquisition strategy, CVproof will incentivize companies, recruitment agencies and candidates by granting them INK tokens for the adoption of services. This will ensure an initial level of transactions on the platform, as well as provide liquidity to the INK token almost from day 1 of operations. These Incentive Tokens will be restricted for use only on the CVProof platform under the form of a discount rather than a freely tradeable token. CVProof will acquire the incentive tokens by purchasing them from ICO token holders (either directly or on exchanges).
This commercial strategy will not only boost user acquisition but will also support the INK token price.
In other words, CVProof will use part of the token sale funds to develop the platform’s transactions and also to provide liquidity to the INK token.
Route to Market
CVproof has been engineered to establish a new credential standard in the job market. The commercial initial strategy will focus on the following business areas:
Industries with highly regulated credentials verification requirements
✔️ Aviation
✔️ Medical
✔️ Education
Heavy users of credential verification services
✔️ Corporate Human Resources across all industries
CVproof will offer the right digital platform to provide their employees with all required credential documents (work certificate, assessment, training certificate…). CVproof will engage HR teams directly as well as through partnerships with major Human Resources Information System (HRIS) software vendors, by integrating CVproof services via API (Application Program Interface).
✔️ Recruitment Agencies (primary focus on top Manager and C-level candidates, as well as jobs requiring a vetting).
We hope this article has helped you understand how CVProof will work. For detailed information, please download the white paper (English and Russian versions available — more languages coming).
If you have any questions, feel free to reach out to the team on Telegram or via email.
The pre-sale is on-going until the 31st of January and we have been busy processing KYC applications and talking to potential investors.
Our next posts will detail the product roadmap, the ICO process and answer some of the most common questions we’ve been asked so far.
To the moon! 🚀
