Several organizations already help startups employ freelancers, but Zoom is hoping to better this industry with its new blockchain-based recruiting. The use of the blockchain separates Zoom from other competitors and the company is focusing on using its platform to enable business relationships, project planning, and secure payments between freelancers and employers. The blockchain-based recruiting will help connect freelancers with virtual companies through a blockchain ID system, AI, and smart contracts.
The use of the blockchain will also help create a sense of security and transparency while also simplifying multi-stage and multi-stakeholder projects. The blockchain-based recruiting system will also provide an employment portal for virtual companies that need to access skilled freelancers.
The platform also contains an ID system that confirms the identities of employees and employers. This system verifies, validates, and authenticates both parties to limit fraud.