Prices of cryptocurrencies saw massive changes in the last few years, more than ever in their history. First, there was the well-known emerging from the shadows in 2017, which brought digital coins to the attention of the world, and launched their prices to heights that no one dared imagine only a few months earlier. Then, 2018 came, and with it, a year-long crypto winter, where bears roamed the market throughout the year, causing the prices to drop by 80%, 90%, and more, depending on the coin.
Now, the prices are rising once more, the investors are returning, and new would-be coin holders are entering the market all around the globe. Cryptocurrencies are also receiving new use cases, many of the existing projects are becoming faster, more secure, and better, in general.
However, there are also new coins that are constantly emerging, and while their arrival to the crypto space was significantly slowed down due to the lack of optimism in 2018, things are changing for the better. In other words, ICOs are back, and in quite a great number, at that. Of course, nobody can tell which projects are going to become successful, but that is why so many people find it so exciting. One ICO with excellent ratings and a lot of excitement about it is GoRecruit ICO, which we wanted to take a closer look at today.
GoRecruit is an AI recruitment system that utilizes blockchain technology. It is imagined as a new way of evaluating job applicants, which uses AI for bringing better HR decisions. It would analyze as much data as it can find online, including all publicly available sources, and even social networks.
It would then select applicants for an interview, thus relieving people who would previously have to spend hours upon hours of analyzing and processing data in order to do the same. This way, employees will receive detailed information, as well as recommendations, nearly immediately after authorization of a candidate in the system.
The system will also eliminate human error, which is one of the larger issues in any industry these days, as well as the cost of HR services. In addition, it would make access to vacancies a lot more open.
Unfortunately, GoRecruit has still not revealed the date and time of its upcoming ICO. All that is known in this regard is that the project is in development and that it is expected to arrive shortly.
However, there is a lot of additional information, including the token's name — GRT — as well as the fact that it is designed as a utility, and developed on Ethereum's platform. The project originates from British Virgin Islands, and once its ICO starts, it will not allow US-based participants. However, anyone else is allowed and welcome to join, provided that they go through a KYC procedure.
The project has also announced that it does have an MVP, a bounty, as well as a bonus. Meanwhile, it will accept fiat currencies, as well as Bitcoin and Ethereum.
Its preICO price is scheduled to be $2.5, while the price during the ICO itself will be $3. Also, the project has announced that its soft cap will be at $2 million, and the hard cap is set at $12.5 million.
|Start||May 1, 2019|
|End||August 31, 2019|
|Soft cap||$2 000 000|
|Hard cap||$12 500 000|
|Minimum investment||10.00 GRT|
|Tokens for sale||5379167|
|Accepting||ETH, BTC, Fiat|
As far as I understood, the candidate evaluation scheme devised by GoRecruit constitutes in assessing a person’s profile in social media and the information available in open sources. Well, it might be sufficient for composing a psychological profile, but definitely not a professional one, especially if the person is an inexperienced specialist fresh out of a higher educational establishment. Besides, I haven’t found any explanation about the algorithm by which GoRecruit, and its evaluation system in particular, works. So, I doubt that their system would be as efficient as they present it.
It is my firm conviction that the recruitment industry is longing for projects like GoRecruit that would make the life of HR specialists that much easier and, conversely, make it impossible for job seekers to mislead the employees. There is no other way of doing that apart from incorporating blockchain into the job market, which is basically what GoRecruit does. However, there are things I don’t like about the project. Firstly, they didn’t fully disclose the mechanism for the rating formation which might leave some doors open for manipulation. Secondly, their overall design is much too similar to the one of Upwork, which doesn’t work in their favor. Other than that, GoRecruit is a fine project with a solid concept and a seemingly competent team.
Should the concept offered by GoRecruit be put into practice in a proper manner, it will definitely become a savior for all headhunters out there. Trust me, I am more than aware of how gruesomely tiring and frustrating it is to sift through the myriad of similar-looking CVs in search of a one really competent specialist. The applicants always position themselves as “experts with vast experience in such and such field”, but in reality, only few of them are capable of providing real value from the get-go. This rating system based on the use of blockchain and AI can be a game changer for both employers and job applicants, so GoRecruit is really worthy of attention.
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