4th Pillar: Using Blockchain Technology to Solve Many of the Well-Known HR Pains
Handling human resources presents a challenge to almost all organizations, irrespective of their size. And at this time, most businesses run the same Human Resources processes but mostly manually which makes it hard for the people in charge to comb through data stored in outdated systems. Even with the hard work, they will be left with data that lacks validity and consistency.
Even if various disparate tools that affect human capital are aligned, there is no guarantee that the data contained within them is easily accessible, shareable and visible to all relevant stakeholders.
4th Pillar is a blockchain based project that aims to harness the power of blockchain technology to disrupt the way recruitment has been managed by finding a solution in the complicated world of HR and ultimately simplifying the entire HR industry.
Drastically Reduce the Use of Paper.
The human resource and finance connecting hub, 4th Pillar (presale coming soon), is designed for both individuals and organizations. Built with over 22 years of experience in the HR industry, the 4th pillar is based on the Ethereum blockchain and teleportation service, utilizing smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by individuals and their employers. The idea is to drastically reduce the demand for paper, which is expected to put more pressure on forest ecosystems, as well as help reduce the carbon and ecological footprint.
To achieve this vision is not going to be an easy task. 4th Pillar is facing three main challenges including lack of a wallet system capable of sending multiple payments from organizations to individuals, lack of a mainstream blockchain based B2B and B2C work related sensitive document transfer, and lack of an online recruitment platform based on verified data.
The solutions to challenges are the creation of a 4th Pillar decentralized blockchain system for employers to reward and transfer FOUR tokens directly to their employees using a self-managed 4th pillar decentralized personal savings wallet. 4th Pillar will also use Blockchain and Interplanetary File Systems (IPFS) to provide efficiency in the secure transfer of valuable documents through its network directly from employer to employee. This will make room for creating a digital employee professional identity database with automated evaluation system to recruit based on verified work history.
Platform Services Sales.
Four token is created as a utility token for the 4th Pillar platform. With an embedded token teleportation service and multiple transfer option, the FOUR token serves as an atomic unit and main component of the 4th Pillar ecosystem. As the platform uses Ethereum blockchain and token teleportation services in combination with 4th Pillar scalable cloud service, FOUR tokens will be used as the main value and gas. Other uses include a provision of community incentives and rewards, acts as a B2B payment medium, and as a main revenue mechanism in the 4th Pillar internal economy.
Once operational, on September 1st, 2018, FOUR tokens will earn the organization’s gas fees from token transactions. 4th Pillar organization sells FOUR tokens in EUROs to organizations at market price. In addition, tokens will also be sold to recruiters and HR agencies as platform subscription.
The hard cap forecast of 12M capital will be raised through a Token Generation Event process over a 3-month period. TGE sales are booked through all periods for the years; 2018, 2019, 2020, and 2021. Sales driven organization is reaching over 3M EUR platform services sales in the 4th year. Middle Cap organization is reaching 3M EUR platform services sales with 4.3 EUR booked in years 2018 and 2019. On the other hand, TGE sales are booked in 2 year period for the Soft Cap with a sales driven organization reaching 2.5M EUR platform services sales in the 4th year.
Possibilities for the Future.
What makes 4th Pillar unique is the way it is conceptualized, developed and integrated into the business. The platform combines several solutions that solve many of the well-known HR pains. The project already has a developed working BETA for the first function including multi wallet value transfer. To go even further, the 4th Pillar platform has great possibilities for the future as it has the potential to expand and target the wider market due to the fact that it will offer multi-field solutions.
More information about the 4th Pillar is available at – https://www.the4thpillar.io/