For the first time ever, Web3 technologies are being used to bring the HR and recruitment sector fully into the 21st century.

CV Wallet takes all of the elements of Web3 technologies, including blockchain, decentralisation, digital identities and verifiable credentials, to create the world's first Web3 hiring ecosystem. For jobseekers, this means an upgraded smart CV held securely in a decentralised app-based wallet. For employers, it means an open skills-based hiring platform, built on trust.

CV Wallet has been developed by serial technology entrepreneurs, Richard and Beverly Collins, who co-founded the programmatic job advertising platform, ClickIQ, which sold to Indeed in 2019.

Beverly Collins, co-founder of CV Wallet, said: “The root of the problem within the recruitment industry is that HR technology and the hiring process are woefully outdated and unfit for purpose in a post-Covid world of work. For the first time ever, there’s an opportunity for HR and recruitment leaders to take a significant leap forward, and it’s being made possible by the advent of the latest Web3 technologies.

“Unbelievably the traditional CV has barely changed in 400 years, and the recruitment industry has built a hiring process that has become unfair, inefficient and untrusted off the back of it.

“Global hiring processes have seriously fallen behind the times. This has resulted in unsecure centralised data, fraudulent qualification claims, unnecessarily long recruitment processes, inadequate screening, wasted time for employers and candidates, plus many more issues.”

CV Wallet allows jobseekers to prove their capabilities: through skills assessments, qualifications and their experience. Once a relevant third party has verified a skill, it is stored securely via blockchain.

“Thanks to blockchain and other Web3 technologies, we’ve been able to develop CV Wallet and finally upgrade the traditional CV to a smart CV,” adds Richard.

“We are reimagining the global hiring ecosystem and fundamentally rethinking how people find work and companies attract talent.

“We believe the future of hiring is skills-based recruitment, which has been almost impossible to date because the technology simply hasn’t been there. CV Wallet is the first step towards our ambition of allowing employers to make direct offers to relevant, qualified, blockchain-verified candidates via a streamlined recruitment process.”

Assessors can verify assessments that have been completed by candidates and stored in their smart CV Wallet. Job-seekers can save and share their credentials with potential employers.

Richard concludes: “How we hire is outdated and broken, but the advent of Web3 technology finally offers us the chance to rethink the ecosystem in a way that’s fit for today’s world of work. Rather than just talk about it, we have built CV Wallet to demonstrate it working in practice and facilitate the positive changes that we believe such an ecosystem will bring.”

For more information about CV Wallet visit, https://www.cvwallet.com

marketwatch.com