Today, talent manager Cornerstone, the National Student Clearinghouse, SAP, Upwork and 11 other organizations announced the founding of the Velocity Network Foundation, a blockchain non-profit that will work on developing credentialing systems.
The consortium was initiated in collaboration with Velocity Career Labs, which is developing an open-source, blockchain-powered platform called the ‘Internet of Careers’. The network is targeting data privacy and security while putting control of data back in the hands of employees and job seekers. The blockchain will not store the private information and uses self-sovereign identity.
Velocity Network Foundation’s vision is to use the ‘Internet of Careers’ to establish a token-based career credentialing economy. This will enable individuals to own their career data and records, including education, degrees, certificates, projects, skills, and work history. Blockchain will prevent unauthorized sharing of data, and jobseekers can choose with whom to share their information as they switch between jobs.
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