Indorse – Spelling The End Of The Dishonest CV…

Just how do you know if what people claim in their CV is true? For a time, google seemed to deliver an endless source of data on other people. You could search for people online and see where they had worked. Then social media made it even easier to track people – or so it seemed.

In the last few years prospective employees have been warned that when they attend interviews, the company looking to hire will include a trawl of their social media to see if what they say is true or to ascertain the calibre of the person.

Of course there have already been cases where legal claims have been made against individuals abusing social media, but even harmless activities may be seen as detrimental to prospective employment. Applying to a company where the CEO is teetotal? Then perhaps don’t post those post party pictures on FB. Looking to work in a company that works in pet supplies? Perhaps posting pictures of you supporting the local hunt might not be so clever. The list is endless.

However, while verifying your character online is one thing, verifying your career details is another. Most CVs have referees which a thorough employer will use, but what if the person has set out to deliberately inflate their CV. Is it possible to check that online?

The majority of employers would head over to Linkedin – and indeed most management on ICOs link directly to their Linkedin page. Linkedin in an established platform but there is a flaw. Only the individual can insert their CV details. No one else can comment on them. The nearest there exists for validation of the CV details is in the recommendation section – but these could be from friends or even fake accounts should a person wish to deceive.

So how can an employer quickly check out the veracity of a CV, or indeed how can a candidate stand out with their skill sets?

Indorse, a decentralised professional social media network, think they have the answer. And so do 1800 token account holders that helped raise $9 million over their ICO in September. This sum will keep them going for the next two years says co-founder David Moskowitz. ‘We learnt a lot from our ICO – basically to keep any future ones shorter and have more focus on the secondary market.’

His co-founder and CTO, Guarang Torvekar adds that they would have liked to have more celebrity endorsement. Ánd better known advisers.’

Which brings us to one of the principles of Indorse – peer to peer validation. Peer to peer validation on Indorse is random and anonymous.

‘There have been a few ICO scandals recently over CVs from the fraudulent state where advisers were not part of the team to the lesser crime of inflating their CVs quite dramatically. Even today what we read on Linkedin we tend to believe – despite the fact that it is published by the individual,’ says Mosowitz.

‘You cannot game the system on Indorse,’ adds Torvekar. ‘You can’t ask your spouse or colleague to endorse you. All the validation is random and is only allocated once a consensus is reached to the order of 70%.’

The individual adds their skill sets with attached proof. So, if someone claimed to have Java programing skills, they could attach their certification. Then anonymous, random peers can validate – or not – that section.

Timelines are important too according to Torvekar. ‘Someone working for 20 years should have a much greater wealth of experience than someone working for less than 5 years, and that is reflected too in how the Indorse CV is created.’

People deemed to have authentic and experienced CV will receive an Indorse Score. This is delivered in the form of a non-transferable, non-tradable token. This is to reflect their reputation. Other members of the Indorse community can earn tokens as rewards for participating on the site. These are tradable and transferable and mimic the popular Steemit model.  In time the co-founders hope the IND tokens will be used to purchase or sell additional services on the site.

The use of blockchain is core to the project according to Torvekar. He was instrumental in setting up the Singapore Ethereum meetup two years ago (where he met Moskowitz) which now regularly attracts a couple of hundred to each gathering. They launched Indorse at one such meetup.

‘Blockchain underpins our decentralised model in four ways,’ explains Torvekar. ‘’The first is the management of the data – there is no single point that is vulnerable. Secondly, Indorse is completely autonomous – no one is in control.

‘We use Byzantine Fault Tolerance to produce consensus and finally it is transparent – no more inflated at best or totally dishonest CVs on our platform.’

Already 1800 people have signed up for the beta MVP version and both co-founders hope to hit 3000 before the end of the year.

With two years’ worth of salaries in their pocket what next for the founders? ‘Company pages.’ says Moskowitz. ‘We want to extend the same transparency to corporates.’ Now, that will be interesting.

CNN

Peter Fedchenkov, Disrupting The Global Grocery Marketplace, INS Ecosystem ICO Launches Dec 4th

First Published in CryptoCoin,News.com 

Despite a very handsome CV littered with impressive names including Harvard Business School, Goldman Sachs and Baring Vostock Capital Partners, Peter Fedchenkov, founder of the INS Ecosystem, insists he is a grocer at heart and that the grocery trade is in his genes.

His grandfather had a wholesale grocery business when, just after the collapse of the USSR in 1993, his retail distribution channels disappeared, As a result his grandfather was forced into selling groceries directly to consumers at small market stalls, Then he discovered the approach of placing ads in regional newspapers to sell goods directly to his customers; thereby creating an early mail-order grocery business where he no longer relied on the middle man.

Four years ago Fedchenkov put his education and genes into practice, and co-founded Instamart in Moscow – an upgraded internet of things approach to his grandfather’s business. Today Instamart is the largest online grocery delivery business in Russia, with 100,000 orders processed every day.

Instamart possesses no stock, warehouses or fleet but picks fresh produce to order from a number of key grocery outlets and ships it to the customer the same day. Compared to the UK where online food orders account for 5% of total food purchases, Russia consumers only order online 0.02 % of the total retail food market. It would appear there is room for growth.

Next up, Fedchenkov set his sights on global grocery dominance, this time co-founding the INS Ecosystem which bills itself as the first decentralised, global ecosystem directly connecting grocery manufacturers and consumers.

According to the website, the INS Ecosystem is a scalable, blockchain-based platform that enables consumers to buy groceries conveniently and directly from manufacturers at lower prices.

Its ICO begins on December 4th with the hard cap set at 60k Eth, which as Fedchekov acknowledges the rising market has changed the target from $18 million to $24 million in recent weeks.

The global grocery business is estimated to be worth $8.5 trillion. Retailers, on average mark-up manufactured goods by 50% and what is even more telling, the retail market is controlled by a very small number of corporations. In the UK alone 4 major multiples control more than 75% of the entire retail outlets.

‘’This market is ripe for decentralisation,’ says Fedchenkov. ‘Whenever I speak with a manufacturing company they are all keen to get to customers directly. There is a real appetite to cut out the middleman.’

Fedchenkov sees the demand for disintermediation for a number of reasons. ‘Manufacturers can see a drop in bricks and mortar traffic. Increasingly people are buying online and manufacturers want to take that away from middlemen retailers,’ he says.

‘Secondly there is question of consumer data. Currently retailers hold that information and use it for their own promotions or loyalty programmes. It is not fed back to the manufacturers and retailers can even use this data to replace branded goods with their own, reducing the manufacturers’ market share.

‘Finally, our research shows us that manufacturers spend a huge proportion of their budgets on advertising that never reaches the end consumer. In fact, statistics show they spend as much on trade marketing as it costs to produce the food in the first place. We want to help manufacturers reach their customers directly, reduce this wasted spend, and benefit directly from the consumer feedback.’

Blockchain technology is a crucial part of the INS Ecosystem model. On November 21, INS announced a partnership with Ambrosus, a blockchain-based ecosystem for the supplychain. Given that the INS Ecosystem is a platform and will not hold stock, it has to be able to provide transparency and provenance for the food supplied. Fedchenkov argues that the underpinning technology and assurance provided by Ambrosus will be much more rigorous than existing traditional audit trails.

‘The data captured by blockchain is immutable and transparent. It is perfect for recording high volume, low margin transactions. This is a good fit.’

FedchenKov also maintains that traditional supply chain validation can take days to confirm an audit trail, whereas data held on the blockchain can be validated within minutes. ‘Ít is safer all round,’ he says.

The INS Ecosystem will partner with third party fleet operations to fulfil distribution. Asked if it has the potential to replace multiples and then become a monster in its own right, Fedchenkov says it is not possible.

‘For example, each manufacturer will develop their own loyalty programme with their customers using smart contracts so that when customer behaviour reaches certain agreed targets or sets of actions, rewards are automatically released. They, the manufacturer, will know their own customer, not us.’

In terms of revenue, Fedchenkov will impose a straight levy of 1% based on volume for manufacturers and the same on third party fleet operators. He is sanguine about the use of the INS token as currency. ‘No, I expect people to buy their groceries in fiat currencies,’ he says. ‘However, rewards will be denominated in our token creating a value and liquidity as people use the token generated in the Ecosystem to buy more food or redeem rewards.’

So far, seven of the top 20 global FMCG manufacturers, including Reckitt Benckiser, Valio, FrieslandCampa, Capebe and Borjorni, have lent their names to the project and have expressed interest in joining the platform.  It would appear to be a win win for manufacturers as well as consumers – providing lower costs and greater choice.

Fedchenkov is feeling optimistic at this stage. A mixture of traditional marketing and blockchain marketing has produced results so far. A feature in the UK Telegraph brought in five new multinational manufactures. Now it’s just a question if the ICO traders are as excited as well.