The World Employment Confederation has joined the Velocity Network Foundation, a consortium that seeks to use blockchain technology to build an ‘Internet of Careers™’. By joining the network of partners brought together by Velocity, the World Employment Confederation will be directly involved in shaping the infrastructure for modern labour markets.
Published on 29th October 2020
The World Employment Confederation believes in the potential of cross industry collaboration and blockchain technology to reduce frictions in the process of connecting people with work and to make it a positive and trusted experience for candidates, workers and employers.
By joining the Velocity Network Foundation, the World Employment Confederation is directly involved in shaping the standards and processes that will enable the ‘Internet of Careers™’ as profiled in Velocity’s vision. Leveraging the promise of blockchain technology, one tangible outcome expected from Velocity is to offer a ‘digital wallet’ enabling personal credentials and data to be shared by the owner of that data – the worker! – easily and in a secure way from one labour market player to another.
“The network of partners that Velocity brings together will enable the speed, trust and data security that is necessary in modern labour markets to maximise efficiency for the workforce, businesses and communities we serve. For the World Employment Confederation and its members, being part of this network will accelerate the opportunities for labour market intermediaries to improve the job search process for customers and workers alike,” explains John Healy, Vice-President of the World Employment Confederation and chairman of its Blockchain Taskforce.
The Velocity Network Foundation is a non-profit consortium bringing together members from across HR and Education Technology, gig and contingent workforce platforms, employment marketplaces, background and credential services, assessment and people insights providers, recruitment, development and advisory firms, nonprofit and multilateral organizations, employers and educational institutions.
The involvement of the World Employment Confederation in the consortium will include the development and testing of uses cases specific to the industry, with an expectation to accommodate and incorporate those into the standards tracked and maintained by the Velocity Network Foundation. This move will contribute to reaching the objectives of the World Employment Confederation’s Blockchain Taskforce. Initiated by the sector’s leading companies, the taskforce has been successful welcoming contributions from across the industry and is looking to expand the inputs even further to fully reflect the many ways in which people enter and re-enter the workforce throughout their career.