The nature of work is changing with the nature of money. But rather than use automation to reduce a company’s headcount, a company called Talao is using the blockchain to help the world’s experts get paid for their knowledge.
Talao amounts to an Ethereum-based headhunting app, connecting freelance specialists with recruiters seeking professional input. Recruiters search Talao’s registry of experts to find suitable job candidates, then pay to view profiles, contact them, or issue urgent requests. On the other side of the table, the experts use Talao to sign smart contracts, settle disputes, and validate their completed work on the blockchain.
“Public blockchains will disrupt the talent on-demand market, creating a fairer and more efficient value chain,” says Talao co-founder Nicolas Muller. “Blockchains will enable talent to own their data where it’s owned by centralized platforms, and will enable a more transparent relationship between talent and business.”
The company is preparing an ICO for its TALAO, the cryptocurrency token that underpins the whole operation. They seek to raise $60 million with a private pre-sale beginning April 14th, opening later to the public in May. There is a working product currently live at their website.
Right now, you can view requests from recruiters needing help with anything from supply chain troubleshooting to helicopter design. Experts get paid for their work and recruiters get to count a problem solved. Talao grants talented people access to a wide variety of companies that need their services and support smart contract-based payments. Furthermore, they end up building a community-based reputation as they use the platform and collect cryptocurrency payments. According to their white paper, the team aims to reach 5 million users, a $5 billion market cap, and 50 communities of experts by the year 2022.
In true blockchain style, Talao does away with all the middlemen that usually bottleneck—or facilitate—the hiring or talent-sourcing process. Now the entire interaction can take place between the person doing the work and the entity paying for the work. Freelance talent get increased control as they negotiate deals with companies, and they get to keep their full fee rather than pay part of it to a staffing service.
“The public blockchain revolution, just like the internet in the ‘90s, will be a huge step forward in this direction, forever disrupting the ways humans cooperate and build reciprocal trust in a decentralized world,” Muller says.