In today’s job market résumé fraud, from slight exaggerations to lies about achievements and experiences, has become increasingly common due to the competitive nature of businesses.
According to HireRight's (2017) employment screening benchmark report, 85 percent of employers caught applicants falsifying their résumés or applications, up from 66 percent five years ago.
StudentChain, along with its native currency StudentToken, is a blockchain based ledger system for employees and merchants to accurately authenticate and verify student resumes, achievements and experiences through an immutable, timestamped shared ledger.
Businesses spend a large amount of capital and time on resume checks and authentication. By using StudentChain, they can reduce the monetary and time costs while assuring the same level of quality by helping in reducing costs by compressing due diligence.
Studentchain envisions utilization through a distributed system of records shared across the entire network while ensuring the appropriate visibility, while ensuring information is secure to authenticate and verify information. Verification terms are embedded in smart contracts through a transaction base to measure and document students information. Verifications are endorsed by relevant participants that can authenticate and verify legitimacy through an immutable, timestamped shared ledger