Simplify the Hiring Process with MONiD
Job hunting and recruiting can be very stressful. For employers, the stakes are high - in addition to entrusting their business to employees, they need to invest a lot of time and resources in recruiting and training new employees. Therefore it's crucial that recruiters thoroughly vet candidates' qualifications in order to choose the right people for their teams. For job seekers, landing their dream job is an important step in their career and life. However in order to do that, they need to endure what can sometimes be a long and daunting recruiting process to prove that they are qualified for the role.
Unfortunately, the hiring process is fraught with challenges, which only adds to the stress and inefficiency. On top of the many hours of interviews, employers are faced with the time-consuming task of checking a candidate's education, work history, professional certifications, etc.. The process of credential verification is often manual and paper-based, requiring checks with the respective credential issuers. This is a slow, expensive and frustrating experience for both employers and candidates. In today's fast-paced labor market, it can lead to candidates dropping out of the hiring process in favor of other employers. In addition, there is no guarantee that manual checks will correctly detect forged credentials, nor is there any way to verify that these tests were actually taken by the candidates and not by a paid impostor on their behalf.
Streamlining the Process
MONiD simplifies the hiring process by providing the credentials that can be cryptographically verified. It is compliant with industry-leading W3C standards, allowing universities, employers and credentialing authorities to have decentralized identities (DIDs) on the blockchain and to issue and revoke credentials that reflect a candidate's skills and experience. Thanks to a public blockchain combined with a decentralized public key infrastructure, these credentials can be easily, quickly and accurately verified without cumbersome and inaccurate manual steps, and are tamper-proof. Job seekers can use the credentials to create digital resumes that can be shared and verified at any time, and they can control what personal information is shared. In addition, the interoperability demonstrated by Dock allows it to be used with other W3C-compliant networks, blockchains and wallets.
For example, candidates can request digital diplomas, employment certificates and professional credentials from universities, former and current employers, and certification bodies, which can issue these credentials in the form of verifiable credentials (VCs). When a candidate applies for a job, the hiring manager can ask for a verifiable presentation (VP) signed by the issuing institution. Since the issuer's public key can be cryptographically verified against their DID, and the issuer's signature cannot be forged without access to the issuer's public and private keys, the VP proves to the hiring manager that the candidate's credentials are valid in a fast and reliable manner.
MONiD's VCs and VPs can also help prevent cheating on academic and professional exams. The VC that confirms a candidate's identity can be issued by a school, professional body or government and embedded in a hard copy ID. On the day of the exam, the exam proctor can use that ID and the associated VC to confirm that the person taking the exam is indeed the person registered to take the exam, as the VC makes it difficult to forge the ID.
In both cases, the recipient of the credential decides what personal information about them is included in the VP, thus ensuring that only the necessary data is shared with others. And they can easily store and share their credentials using any W3C-compliant digital wallet.
MONiD can help streamline the hiring process for job seekers and employers by providing instant and reliable verification of a candidate's skills and experience. The end result is significant administrative cost savings, increased trust in the talent pool, and a quick turnaround that gives employers a competitive advantage in the labor market.
MONiD has partners in human resource industry, we understand the requirements well and can provide our customized DID solutions for our valued customers.
Leveraging MONiD for an Efficient Supply Chain
Running a transparent supply chain, closely tracking raw materials and goods, and ensuring supplier and manufacturer compliance are all important tasks with potentially significant consequences.
Here are some examples of the safety issues and monetary losses that can result from poor supply chain management
Manufacturers fail to ensure safe working conditions at their facilities, resulting in serious injuries to workers.
Importers bring unapproved, non-compliant medical supplies into the marketplace, putting public health at risk.
Suppliers supply manufacturers with raw materials that are below the originally promised grade, profiting illegally and compromising the quality of the finished product.
Manufacturers produce and sell counterfeit products, illegally monetizing intellectual property that does not belong to them.
Without knowing the exact source and value of the goods, government authorities are unable to properly apply tariffs and maximize import duty revenues.
Despite its high-risk nature, supply chain management has traditionally relied on physical IDs and documentation to prove compliance by the parties involved. This has created significant inefficiencies and uncertainties, as these documents and the stamps or signatures (handwritten or digital) affixed to them are easily forged and difficult to verify. Authorities conducting compliance checks often had to contact the parties responsible for issuing physical certificates to confirm their validity and perform manual verification. The result is a slow, painful and error-prone process with added overhead costs.
Transforming the process
MONiD can transform this process by providing encrypted authentication credentials that cannot be forged. Compliant with industry-leading W3C standards, it allows various stakeholders in the supply chain to have decentralized identities (DIDs) on the blockchain and to issue and revoke credentials that are tamper-proof due to the public blockchain combined with a decentralized public key infrastructure. These credentials can be easily, quickly and accurately verified without tedious manual steps. In addition, the interoperability demonstrated by MONiD allows it to be used with other W3C-compliant networks, blockchains and wallets.
For example, if a manufacturer wants to produce sports shoes decorated with copyrighted characters, the manufacturer can apply for an intellectual property license from the copyright holder or licencor. In response, the licencor could issue a verifiable credential (VC). The licencor can also impose a set of rules on the manufacturer (e.g., protect IP assets, ensure a safe working environment for factory workers) and revoke the VC if the manufacturer is found to be non-compliant.
Once the shoes are produced, an exporter who purchases them and wants to ensure its quality and authenticity can ask the manufacturer to provide a verifiable presentation (VP) signed by the issuer. Since the issuer's public key can be cryptographically verified against its DID, and the issuer's signature cannot be forged without access to the issuer's public and private keys, the verifiable presentation can prove to the exporter that the shoes were manufactured under a valid license.
MONiD helps companies and government agencies ensure a legally compliant supply chain, authentic goods and materials, and timely and reliable delivery. The end result is significant savings in overhead and increased profitability.
Streamline Credential Verification and Monitoring with MONiD
The healthcare industry's validation process suffers from inefficiencies due to paper-based licenses and certificates, coupled with manual validation processes and gatekeepers. Traditional validation can take weeks or even months, which causes significant delays in filling much-needed healthcare positions and delays healthcare workers from starting work. A change in the healthcare industry and the outdated credentialing process is long overdue.
By leveraging MONiD, organizations that provide and regulate medical licenses for healthcare workers can use MONiD's protocol to issue licenses in the form of digital certificates. Recipients of these licenses can then easily share them for instant verification by any hospital, clinic or medical department they want to work in.