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November 24 2017

ICO Alert Report: Jobeum

ICO Alert Report: Jobeum

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ICO Alert Quick Facts

  • Ethereum-based network for business professionals.
  • 1 ETH = 1,000 JBT
  • Pre-ICO is live and ends on November 21, 2017.
  • 923,076,925 total token supply / 600,000,000 available during ICO.
  • Partners include Chronobank.io.

What is Jobeum?

Jobeum is a Ethereum-based network for business professionals. Blockchain is used to keep records about employment, education, completed projects, etc. The records within a profile will be cross-validated by the community and later we’re going to partner with universities and companies so that certificates (diplomas) and validated employment records for people will be stored in the blockchain. Users will be able to specify which portions of their profiles should be public and what should be kept private. Another goal of Jobeum is to make interactions among candidates and recruiters beneficial for both parties by incentivizing micro actions in the recruitment process via micropayments in JobTokens.
— The Jobeum Team

Q&A with the Jobeum Team

ICO Alert: How does the Jobeum token (JBT) function within the platform and why is it needed?

Jobeum: JobToken (JBT) is a utility token that fuels Jobeum transactions; for example, responding to a recruiter’s request, opening private parts of their profile to a requestor (a recruiter), passing a test to confirm a skill, referring a good candidate, etc. The actions will be automated via smart contracts with JobTokens as an accounting unit.

ICO Alert: How large is the actual recruitment market? Is there forecasted growth in the sector?

Jobeum: It is a $400 billion market worldwide, and about $150 billion in the U.S. The market is growing about 6% a year and the online recruitment market ($4 billion) is growing twice as fast (“software is eating the world”).

ICO Alert: How do recruiters and potential candidates work cooperatively within the platform?

Jobeum: Based on the statistics, 85% of workforce are so called “passive” candidates who are not actively looking for a job, but interested in exploring new opportunities. Working with passive candidates is not easy and it takes a lot of effort to get in touch with the candidates. Within Jobeum, candidates are incentivized to take steps in the process via micropayments.

ICO Alert: Can you take us through a specific user scenario on Jobeum?

Jobeum: Sure. For instance, a recruiter finds a good candidate based on publicly available data in the profile of the candidate. To be able to contact the candidate, the recruiter requests access to private parts of the profile (e.g. a project description, current occupation, past work places, or contact information) and sets a price in JBT for that.
Then, the candidate reviews the request. If the request is approved, the requested private part of the profile is opened and the candidate gets paid.
Another scenario might be when a recruiter sees a potentially good candidate, but is not sure the candidate really has the skills claimed in the candidate’s profile. The recruiter then asks the candidate to pass a specific test to confirm the candidate’s skills and sets a price for it. The candidate might accept the offer, pass (or fail) the test, and gets paid for taking the time to take the test.

ICO Alert: Why is it important that users control what parts of their profile can be viewed by potential recruiters?

Jobeum: As a user, it is you who owns your data. You might choose to make some of your data public and keep the rest private. You can make your digital profile work for you and earn JobTokens.

ICO Alert: Are there distinct differences between Jobeum and a service like Linkedin? Why would I utilize Jobeum instead of these more traditional services?

Jobeum: There are various professional social networks that allow candidates to discuss business or professional topics, find a job, or help recruiters find candidates. These include LinkedIn, Xing, Viadeo, and other business networks that exist nowadays. All these professional networks are controlled by big corporations and they currently charge a lot for someone (e.g. a recruiter or a sales manager) to find candidates/sales prospects or to be able to send a message. Candidates do not make any money on this and instead, might get lots of unwanted calls and spam messages from recruiters not relevant to their interest.

ICO Alert: Can you take us through your Bounty Program? How will it work?

Jobeum: We are finalizing the details of it. It should be available at jobeum.com/bounty soon.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the Jobeum platform?

Jobeum: There are new developments in Ethereum (Casper, moving to PoS) that are scaling the operations. And in the future, Plasma will scale side transactions even further. So, yes we believe in the future of Ethereum.

ICO Alert: As a non-Jobeum question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Jobeum: We believe that the future will be more and more decentralized with more rights belonging to individuals and smaller organizations. We will live in a transparent world. Information about individuals will be mostly transparent. Many companies will have completely transparent accounting systems on a blockchain where it will be easy to see the financials and predict the performance of the company. So, it will be easy to invest into these companies. Many interactions among business entities will be automated via smart contracts. The world will be much more transparent, automated, and reliable.

Pre-ICO Information
The pre-ICO for Jobeum tokens (JBT) ended on November 21, 2017. Accepted currencies included ether and there was a hard cap of 600,000 Ether set for this period.

1 ETH = 1,000 JBT (+ applicable bonus)

ICO Information
The ICO for Jobeum tokens (JBT) began on November 21, 2017 and will end on February 6, 2017. Accepted currencies include Ether and there is a hard cap of 600,000 Ether set for this period.

1 ETH = 1,000 JBT (no bonus)

Visit the Jobeum website for more information and the contribution address.

Token Distribution Information
There will be a maximum supply of 300,000,000 CL tokens created, with 1,275,000,000 (42%) available during the main ICO period.

All tokens will be issued within the ICO period. The whitepaper is available for additional details regarding distribution.

Maximum supply: 923,076,925
Supply available during pre/main ICO: 600,000,000

65%: Token sale
30%: Company (vested)
4%: Advisors and partners
1%: Bounty campaign

Use of ICO Proceeds
30%: Development
30%: Marketing
20%: Long-term budget
15%: Insurance
5%: Legal

Team
Vitaly Obernikhin, CEO
Linkedin
Vitaly is the founder and CEO of Jobeum. He has also held the roles of CEO at AmazingHiring and product line manager at Parallels. He holds a degree from the Haas School of Business at University of California Berkeley.

Serge Klimoff, CTO
Linkedin
Serge is a senior architect and evangelist with extensive mobile development experience for iOS (Swift) and Android. He is a Windows application development mentor with 20+ years of enterprise software development focusing on extensibility, reliability, and scalability. Serge has managed every cycle of the software development life span from design to implementation to quality assurance to release to customers.

Sergey Dmitrichenko, VP of Business Development
Linkedin
Sergey is a tech recruiter and entrepreneur. He is the co-founder of AmazingHiring, the ultimate search engine for technical talent. Sergey also founded GMS, an IT recruitment agency, based in Moscow.

Social Media
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View the Jobeum Website here.

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References
(1) Jobeum Website, Jobeum, (2017)
https://jobeum.com/

(2) Jobeum Whitepaper, Jobeum, (2017)
https://s3.us-east-2.amazonaws.com/jobeum/whitepaper.pdf

Topics: Blockchain, ICO, Crypto, Cryptocurrency, Business