Reshaping the Future of Recruitment through Talent Reputation and Verifiable Credentials using Blockchain Technology

Abstract

The emerging Web3 economy and the Blockchain's massive adoption in 2021 shape the industry's future driven by distributed ledgers and smart contracts. Blockchain technology enables traceability, fraud prevention, and faster settlement of business processes, including talent recruitment. The current recruitment requires Applicant Tracking System (ATS), Artificial Intelligence (AI), and third-party HR recruitment agencies for sorting and verifying job application documents in every recruitment cycle, which are ineffective and inefficient. This paper proposes a model to discover and recruit reputable talent by leveraging blockchain technology, which enables trustless networks and allows entities to conduct transactions without mutual trust, called the recruitment system. This paper also seeks to enhance the relationship among recruitment entities by adopting a transparent and incorruptible decentralized autonomous organization (DAO) model powered by blockchain technology.