Velocity Network Foundation

History

2020: Creation

At the end of January, 2020 SAP, Cornerstone, National student's clearing chamber, Upwork and 11 other organizations announced creation of Velocity Network Foundation — non-profit consortium which will be engaged in development of systems of certification using a blockchain.

The organization is founded in cooperation with Velocity Career Labs company which develops a blockchain platform open source under the name "Internet of Professions". The platform which will become a basis of Velocity Network Foundation should ensure confidentiality and data security, at the same time providing full control of employers and persons in job searches. The blockchain will not store personal information and uses sovereign identity.

SAP, Cornerstone, National student's clearing chamber, Upwork and 11 other organizations announced creation of Velocity Network Foundation - non-profit consortium which will be engaged in development of systems of certification using a blockchain

The purpose of Velocity Network Foundation — to use "The Internet of professions" for creation of the economy of career opportunities based on a token. Such platform will allow people to dispose of the data on education, academic degrees, certificates, projects, skills and career. The blockchain will prevent unauthorized data exchange, and applicants will be able to select with whom they wish to share the information.

Meanwhile, for employers the platform will be a reliable source to information. The blockchain will accelerate verification process of employees and will not allow them to provide counterfeit credentials. The research Careerbuilder showed that 75% of human resources managers face false summaries. Besides, the network will help the organizations to find employees for accomplishment of certain job duties.

Unlike the closed networks which pursue other aims we will be able to create and manage universal network which provides ethical transactions and transparency of interaction — the technical director of Cornerstone Mark Goldin claims.[1]

You look also the Blockchain and cryptocurrency

Notes