AMSTERDAM, Netherlands, April 12, 2018 (GLOBE NEWSWIRE) -- Smart recruitment technology firm StartMonday Technology Corp. (CSE:JOB) (OTC:STMDF) (FRANKFURT:JOB) is pleased to announce plans for the commercial release of CareerChain, a blockchain technology solution for the human resource sector which is completing a rigorous and extensive phased developmental process in preparation for an upcoming product launch.
StartMonday has been developing CareerChain as a new brand asset and blockchain solution specifically for the job market. The evolution of the internet and mobile devices over the last 20 years has transformed the job market through extraordinary advances in access and visibility. The underlying process of applying for jobs, however, has remained largely unchanged. Simply put, it’s an outdated process and no longer fits the Mobile Generation’s expectations. Applying for jobs can be tedious and employers who spend tens of millions on job ads are losing qualified applicants who fail to complete forms online and must re-enter the same information over and over again.
Many players in the job market have introduced the ability to save individual profiles for quick and easy application on their own websites that yield a greater number of completed applications. But, because job seekers use an average of 7.6 job sites during a search, some of those players, such as LinkedIn and Indeed, have tried to promote their proprietary profiles as a standard for all sites to use, but have faced resistance due to data ownership and practical competitive realities.
CareerChain will be the first open, public standard for sharing career histories. Job seekers will create a CareerChain profile which they subsequently use to apply for jobs with one click; just enter once, and apply everywhere. CareerChain will propel an increase in completed job applications for employers and will establish an entire ecosystem for the job market and spur third-party application development.
In order to gain global adoption and maintain neutrality as a shared community resource, StartMonday is progressing to the next stage of its roll-out plan. In that stage, CareerChain plans to establish an independent foundation for the base layer of the blockchain solution. The CareerChain Foundation then plans to create its own cryptocurrency and will hold a token sale, commencing with a discounted private round in May 2018. In return for StartMonday's efforts to establish the platform and to cover its development costs, StartMonday will receive 15% of all issued tokens.
Ray Gibson, CEO comments, “In our opening discussions with potential partner job boards and applicant tracking systems that will be critical to CareerChain's adoption and success, we've been delighted with the positive feedback. These are potentially key users critical to CareerChain's adoption and success and to date they have responded enthusiastically about our proposed structure using a foundation as a logical and sustainable launch the platform for CareerChain. The CareerChain Foundation will solve problems that job site partners have been struggling with for decades without threatening their own business models or market share. CareerChain will also serve as a growing technical framework upon which additional revenue earning services can be built by partners, including StartMonday Verify which is designed to automate reference checks for employers.”
As StartMonday moves to become major stakeholder in the token economy, it plans to play an increasingly active role in steering platform growth, and will earn a proportional share of all block verifications as part of its proof-of-stake model.
ON BEHALF OF THE BOARD
"Ray Gibson"
CEO & Director
About StartMonday (CSE:JOB) (XFRA:JOB) (OTC:STMDF)
StartMonday helps employers select better candidates, faster, with the power of 15-second video introductions. StartMonday's video-led mobile and web applications deliver a better impression of personality and customer skills, ultimately helping employers decide which candidates they should talk to first - making the process much more efficient. The Company is dedicated to building powerful tools for the Mobile Generation and is further developing its technology with an open blockchain solution for verifiable career histories called CareerChain.
For more information please visit www.startmonday.com.
CAUTIONARY DISCLAIMER STATEMENT: The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements relating to the completion of the listing of the Company’s shares on the Canadian Securities Exchange and other statements that are not historical facts. Forward-looking statements include projections that CareerChain will propel an increase in completed job applications for employers and will establish an entire ecosystem for the job market and spur third-party application development; that CareerChain can create its own cryptocurrency and sell tokens to pay for launch marketing, continuous development, and global promotion; that CareerChain will solve problems had by job sites; that CareerChain will be used as a framework for additional services; and that StartMonday will steer platform growth and share in block verification revenues. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include that CareerChain may not work as well as expected technically; it may not be accepted by job seekers, job sites or employers as a foundation platform; competitors may offer better or cheaper alternatives; there may be no market for the intended cryptocurrency sale; the costs of operations may exceed CareerChain’s ability to pay; the discounted private round token sale in May 2018 is not successful; and there may be little or no market for the tokens or the CareerChain services and platform. The reader is cautioned not to place undue reliance on any forward-looking information. The Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
Contact:
Walter Spagnuolo
Invictus Investor Relations
Office: +1.604.343.8661
Toll Free from North America: +1.800.274.8143
Toll free from Germany: +0800.180.6687
Toll Free From UK: + 0.800.014.8387
Email: investors@startmonday.com
Website: www.startmonday.com