SpringRole was launched by startup incubator Science Inc in 2017 as an online platform that helps employers use artificial intelligence and blockchain ledger technology to verify the authenticity of education credentials, work experience, and skills for current and future employees.
What Does SpringRole Do?
SpringRole, as a decentralized platform, lets users build professional profiles on their blockchain. The platform then kickstarts a system of checks on the information supplied. It then builds an authentic database of job seekers, giving employers the speed advantage. They can easily browse through candidate profiles and set up interviews confident that the information they are seeking is true and genuine.
How SpringRole Verifies Information
Blockchains use cryptography and unique algorithms to secure historical data and records of ongoing transactions. This makes blockchain technology a means of providing a point of trust for documents between disconnected entities and a way to audit and verify documents without revealing vital information.
SpringRole’s reputation network uses blockchain to let employers verify employee credentials, experience, and claims without affecting the employees’ privacy. This will enable employers, educators, and certification authorities to put their own claims and endorsements onto SpringRole’s blockchain so as to fill a member’s profile and verify later that that said institution attested the way it did.
The SpringRole blockchain gives more weight to the reputation of online professionals by rewarding people who make truthful endorsements. SpringRole does this by using the blockchain to act as a single point of truth and also by rewarding endorsers for making trustworthy attestations.
SpringRole has, at its foundation, the aim of bringing employers and educators together to secure educational and employment verification in the transaction ledger. This would let employers verify information easily on user profiles without having to repeat it every time an employee moves from job to job. SpringRole eliminates the falsification of information relating to credential experience.
SpringRole’s blockchain gives real meaning to endorsements. It does this by applying a small cost to making an endorsement in the form of its token SPRING. As more people make endorsements, the cost increases as a way to incentivize endorsers to be more cautious and selective, which makes attestations more meaningful. This will ensure that endorsements from highly qualified people are more weighty.
SpringRole Improves on Linkedin
LinkedIn provides information on professionals such as education, work experiences, and skills. However,what LinkedIn doesn’t do is verify if this information is correct and genuine. Recruiters look through these profiles and select professionals for interviews based on the information available on their profile.
However, employers discover during the interview process that candidates do not possess the required knowledge, experience, or even the skills they claim to have as mentioned on their LinkedIn Profile or any other profile for that matter. This results in wasted effort and time, especially for recruiters and staffing agencies.
SpringRole comes in to correct this problem. It solves the problem of verification that recruiters have been struggling with. SpringRole allows only validated information to be provided to hiring companies as it verifies all information one time, so as to not to waste the time of concerned individuals and authorities involved. This saves companies the stress of validating candidates time and time again.
The SpringRole team is comprised of 20 team members, out of which 8 are developers. Key team members include
CEO and Founder Kartik Mandavile, who holds a Master’s degree in Biotechnology, Innovation and Computation from Carnegie Mellon University, contributed to IBM’s Watson project and was the founder of AutoBudder, a software that automatically wishes friends on their birthdays and reached to 4 million users at its peak. He is an advisor in several firms which include Lenny Credit Inc., Burst Oral Care, Hendstand App Inc., and PLOWZ&MOWZ.
The next is Vinay Agarwal, who is the director of engineering. He has a strong engineering background with a Bachelor’s of Technology (BTech) in Chemical Engineering, also having worked as a Technical lead in Science Inc. and Technical Advisor in Science Blockchain.
Shivhari Shankar is the Product Manager and he has a Bachelor of Engineering (B.E), Computer Engineering at Manipal Institute of Technology. He was a Software Engineer with Cisco for about a year and worked as Chief Product Architect at Guru-G Learning Labs.
Other members of the team include Sangamesh Patil, Team Lead, Malkeet Singh, Sharun Kumar, UI/UX Designer, Manvendra Priyadarshi, Software Engineer, George Mammen Jacob, Sonu Verma, Frontend developer, and more.
The team have worked together to ensure the success of the project and they are certainly capable of delivering due to their years of experience in tech and blockchain.
The SPRING Token
SpringRole uses its own ERC-20 token, called SPRING, for transactions within the platform. The tokens are used for earnings made from the verification of other users and for paying to access verified user lists. SPRING has a current total supply of 10,000,000,000, with 25% of the tokens available to the public. The token is distributed as follows:
- 2.55 Billion available for purchase
- 1 Billion are for SpringRole existing contributors and advisors.
- 2.5 Billion reserved for SpringRole Team and vested for 4 years
- 3 Billion for Market Development
- 0. 95 Billion SPRING tokens are for Foundation.
Allocation of funds
SpringRole will use:
- 40% reserved for development,
- 45% towards encouraging mass adoption and building a strong developer ecosystem, further business development and more.
- 5 % for administrative needs,
- 5% reserved for legal expenses and
- 5% for miscellaneous.
SpringRole has partnered with several companies and projects which include:
Civic, a company which provides businesses and individuals tools to control and protect their identities, AIKON, which will enable SpringRole to list on their marketplace and reduce friction between SpringRole and app developers who wish to build on the platform, Workcoin, a freelance platform that offers its users SpringRole which in turn brings in more users for SpringRole, Mainframe, a centralized network that encourages censorship-resistant message routing, and many more.