Cisive trailblazes the use of blockchain based Internet of Careers® in India to accelerate background screening into the future.
DENVER (November 9, 2023) – Velocity Network Foundation®, a global non-profit technology consortium driven by the largest organizations in the workforce and education space, shared today that Cisive, a global leader in compliance-driven human capital management and risk management solutions, is set to transform the landscape of background screening in India by harnessing the power of Velocity Network’s revolutionary blockchain-based Internet of Careers®.
In a strategic move to accelerate the hiring process, improve compliance, and uphold the privacy and ownership rights of workforce individuals over their personal career and education records, Cisive is adopting blockchain-based credentialing solutions in the Indian market. This leap follows the successful launch of similar capabilities in the United States.
Cisive’s adoption of Velocity Network’s blockchain-based solutions marks a significant step forward in India’s background screening landscape, promising a more efficient, compliant, and user-centric approach to talent acquisition and verification.
Velocity Network™, the Internet of Careers®, is a purpose-built decentralized protocol and blockchain network that forms a public infrastructure for the exchange of verifiable, trusted, and globally interoperable career and education credentials. Velocity Network™ represents the most ambitious collaborative endeavor ever undertaken by labor market stakeholders. Over 80 organizations are collaborating in developing and deploying the Internet of Careers®, including employer and education associations, HR and Education software vendors, staffing industry associations, and other global nonprofit and multilateral organizations representing large job market stakeholder groups. Notably, this community includes software vendors serving over 30% of employers globally, with access to over 1 billion individuals who can claim, store, and share verifiable, trusted career credentials.
In the few months since the launch of Velocity’s Mainnet, this initiative gained impressive traction and sparked enthusiasm across the HR and Education software industries. Over 70 top software vendors are actively engaged to deploy their use cases on Velocity Network. Numerous organizations, including universities, employers, and training vendors, have seamlessly issued millions of tamper-proof credentials to the hundreds of thousands of individuals that have embraced Velocity’s career credential wallets. The industry is expecting at least 10 million users before the end of 2024.
Cisive will start using blockchain based credentialing solutions to verify applicants’ education and career history in India.
“As a global leader in the compliance-driven human capital management and risk management solutions space, we run background checks for millions of applicants every year. Our ability to get their credentials checked and verified quickly and effectively is critical to delivering on our mission.” says James Hunsrao, General Manager & Vice President, Cisive Global. “Despite many technological advances in our industry, much of the screening and verification process remains a manual effort. We are proud to invest and partner with innovators in this space to find new efficiencies in the process.”