Analysis of ICO Cverification
The name of this project reflects its core. CVerification means CV Verification – blockchain-based recruitment platform with verification all information presented in CVs. According the WP, now employer during checking candidate’s CV have to make calls to previous candidate’s workplaces and performing other checking procedures. These procedures are expensive, can’t guarantee fair verification and possibly may harm candidate itself (like phone calls on his actual workplace).
CVerification will be a service on which each skill, each studied course, each diploma can be approved by: employer, educational organization, other participants.
Token will be used as internal service currency. For applicants these services will be free, and recruitment consultants, corporations, educational organizations will pay in tokens to owner of downloaded document with a service fee for portal.
Prototype will be released in Q2 2018, full release will be performed in Q2 2019
The idea looks very interesting, despite of fact that verification of skills, workplaces, recommendations etc. is working now in LinkedIn social network.
WP contains no business plan – only ways of monetization (briefly – commissions from each payment for downloaded documents and service fees). 50% of tokens will be sold with 15% reserved for team; 40% of funds received will be used on marketing and only 30% - on software development.
No detailed marketing strategy was presented in WP.
Team looks incomplete without finance professionals. It consists only from management and IT professionals, one marketing professional and no more. All LinkedIn profile looks realistic, media links are existing there.
Additionally, there are no advisors board, which can make project promotion harder.
The Vision of the Market
WP contains very brief global recruitment market information without many important details like market segmentation, detailed analysis etc.
Understanding of the Target Audience
Target audience of the project consists from job-seekers, recruiters and corporations. That’s all information about target audience which was presented in WP. This makes sense that founders believes that their product can be sold by itself.
Main advantage of the project will be verification system which can make any CV trustful for employer. This may reduce cost of HR process and make employers search faster. But there is no comparing presented with close services like LinkedIn.
Project strong sides: interesting idea of recruitment portal/social network with verified CVs.
Project weak sides: absence of business plan, marketing strategy, brief market data, incomplete team.
So our position is negative.