SINGAPORE / ACCESSWIRE / September 23, 2019 / Review Revise Renew Pte Ltd (aka RRR), the Singapore start-up intends to eliminate fake degrees and change the process of how companies are hiring with blockchain technology. How are they going to do so? We had a chance to interview one of the firm's founders, Dennis Ba on the firm's technology and up and coming plans. The 37 year old founder claimed that there is an ongoing serious problem happening for decades which many governments and private companies are unable to solve. The problem is that many companies are unable to validate if the person you are hiring has a genuine degree or certification. Also, they are unable to validate if the person has the right skillsets and experience suited for the job.
He went on to say that it is extremely easy to 'purchase' a fake degree or certification from private schools. The fresh graduate might not have a good foundation or he or she did not even attend the university. Rather, they bought their way into society by paying for a degree or certification.
Furthermore, he continued and elaborated on the following consequences:
- It is dangerous for the hiring company, as the new employee with the fake certification does not know what he is doing in the job.
- The hiring company's reputation and customers can be affected.
He listed some examples, firstly having an employee with a fake degree hired as a marketing manager, and also hiring an employee constructing roads. In both cases, the consequences can be disastrous.
Based on online researches, there are many cases in the world which personnel with fake degrees and certifications are being hired. A lot of them were caught and punished by law as well.
The startup reveals that they intend to solve the problem by creating an ecosystem between government accredited schools, students and hiring companies. There are a chain of events leading to graduation. All these events will be recorded on the blockchain. Attendance, grades, projects and tasks are just some of the things which will be recorded, Dennis explains.
With the chain of information and data recorded, hiring companies can check back using RRR's app on how the student performed during various phases. There will also be a rewards system to reward students and teachers. This process is similar to the current mining of cryptocurrencies. The recorded data is also un-editable, transparent and secure.
HR departments and working peers can also grade these newly hired graduates in a transparent manner, which this is also recorded onto the blockchain. This in turn, prevent job resume fraud and the next employer can check past job performance when hiring.
The firm will also be issuing their own cryptocurrency, known as the TREC token. The token is said to be listed on various top cryptocurrency exchanges such as QB.com as well.