- The current blockchain-based business models within the Workforce Solutions Ecosystem fall into one of six distinct categories:
- References
- Identity verification
- Payroll administration
- Talent platforms
- Job boards
- Other (recruiting marketplaces)
- The number of blockchain-based services offered in the workforce solutions ecosystem has grown. There is a noticeable increase in reference solutions, especially those serving the voracious US healthcare job market. At the same time, the growing interest in on-demand payment solutions has revived interest in the speed that blockchain-based payroll services can provide.
- But most progress is more discreet in nature. Aside from highly visible companies built on blockchain, many intermediaries in the Workforce Solutions Ecosystem use blockchain as part of their broader tech stack
- One of the ways that progress is likely to be made is through collaboration. especially in the development of blockchain standards and protocols. The most advanced regarding credentialing is the Velocity Network Foundation.
- While not a feature of the workforce landscape right now, it is at least theoretically possible that a staffing agency built like a DAO (Decentralized Autonomous Organization) could emerge in the future, especially with Web3.0 gaining momentum over the next decade starts to win
- All blockchain business models face challenges, and these tend to fall into four main categories: lack of clear regulatory guidance; lack of knowledge and awareness; poor interoperability between different systems; and technical and integration complexity
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