Our latest interview was with the head of business development of a platform called Profede. Profede has big plans on disrupting the professional networking industry using blockchain technology. Profede is building a network that eliminates spam messages through a token that will be used to contact people on the network. They aspire to one day take LinkedIn out of business. You can check out the full interview below with the head of business development below:
The Current Problems of the Professional Networking Space
In the current professional market, a huge proportion of the money goes to the intermediaries, like LinkedIn. Very little is left for the professionals and businesses who are looking to find jobs and recruit. Most professionals have no control over their data either.
Essentially “middle-men” like LinkedIn sell the data of the users on their platform to businesses. In this ecosystem the exchange professionals do not receive anything. This results in a “lose-lose scenario” for both of these parties, while LinkedIn and other software creators collect all the money in this ecosystem.
The Profede Professional Protocol platform allows direct “Professional-to-Business and Professional-to-Professional transactions without the need for intermediaries.” The goal of the platform is to give power back to the user. Professionals control their profile, decide who has access to their data, and are actually paid each time businesses or professionals use their data. They are using blockchain technology to create a “decentralized protocol that allows professionals to easily store and manage their profiles, which are accessible by third parties.” “Professionals will be able to move their profiles and data through the networks partaking in this protocol, in a private and safe manner.”
Learn more about their solution in their whitepaper here.
The PATO Token
Professionals who make their private data available to companies interested in hiring will receive reward in the form of Professional Activity Tokens (PATO). PATOs can also be exchanged for other services from companies by using this protocol, including “recruitment services for companies, data analysis services, and many others.”
Essentially in their ecosystem the party that wishes to make contact is the party that pays. “This token-based compensation to the contacted party depends on the professional value (skills and feedback rating) of each professional and always consists of a predetermined price previously fixed by the professional themself.” This will allow professionals to only be contacted by businesses with worthwhile opportunities for them, as opposed to recieving a ton of random solicitations like most users do on LinkedIn.
Learn more about Profede and their token on their website here.