In the 21st-century world of work, the ability to network has never been more important, but not all networks are the same. For many years, professional sites like LinkedIn have had a virtual monopoly on the professional networking business, but those sites have some serious limitations.
Blockchain Brings Innovation
Now a new site is harnessing the power of the blockchain to not only build a better network but give professional men and women a direct monetary stake in the success of their networking efforts. The team behind SpringRole describe their blockchain-based startup as a place where professional men and women can create a profile, one based on their career path and their individual goals. But it is what happens after that profile is created that really sets SpringRole apart.
The differentiating factor behind the concept is the fact that participants can earn tokens as a result of their participation. In other words, participants in the SpringRole network get to benefit directly from the successes they enjoy within the networks they create.
SpringRole is the brainchild of Kartik Mandaville, and the concept got its start in 2014. Unlike other professional networking sites, SpringRole is not only a place to post work experience and build resumes – it is also a platform where the skills and expertise published are verified. This gives employers added confidence and makes it easier for job seekers to find positions for which they are qualified.
By building trust into the system, and building that trust on the back of blockchain technology, SpringRole hopes to differentiate itself in an increasingly crowded social media space. This differentiation is a particularly timely one, especially in the wake of revelations that other social media sites have been selling data and spreading fake news.
Users will no doubt notice the SpringRole difference as they set up their profiles. Each part of the profile, education, skill sets and work experience, must be verified before users can move on to the blockchain. This unique design keeps job seekers honest while giving would-be employers additional confidence in the power of the SpringRole platform.
Since work experience, skill sets and other information are verified by the organizations and companies mentioned, transparency and accuracy are built in. Before a past employer can be posted to a user’s profile, the company in question must endorse the mention, creating a chain of trust, one that is facilitated by the power of the blockchain.
The creators of SpringRole tout the accuracy of its user profiles, but they also point out how easy it is to share that information. Once the user profile is created and the details verified, members of SpringRole can share the information they have created. Even better, those users can be rewarded based on the value of that information.
Once that verified profile is in place, members of SpringRole can gain rewards based on the value of their profile, using a set of criteria that includes the skill levels of the individuals who endorse them. Based on those criteria, registered SpringRole members earn rewards when individuals in their networks earn their own rewards.
The executive team at SpringRole is also quick to point out that job seekers are not the only ones who can earn rewards on the platform. Individual endorsers and organizations can also do so, but no matter who is reaping the rewards, they come in the form of tokens.
The Token Economy
The tokens used on the platform are known as Spring Tokens, ticker symbol SRT, and they are fully ERC-20 (Ethereum) compliant. Participants in the platform can earn these Spring Tokens by sharing in the earnings of their network members, and through referral bonuses. Users can also use Spring Tokens to endorse specific skill sets, and every endorsement made by an organization or a company comes with a Spring Token.
Holders of Spring Tokens can access premium features on the platform, giving them a leg up and helping them build their networks more quickly. All tokens earned are stored in the individual member’s blockchain wallet. This process essentially monetizes the networking that has become so important for modern job seekers. By keeping their members honest and verifying the information upfront, SpringRole hopes to change the game for job seekers and employers alike.