It’s always interesting to shine a spotlight on startups that are doing something extraordinary to disrupt business as usual. Today’s post draws your attention to one such Startup Review: BitJob. At its heart, BitJob is a special kind of social network. BitJob is an important innovation for students, designed to help them earn money while they gain valuable work experience that will prove useful when they look for a permanent job.
BitJob Brings Blockchain Technology to the Student Workforce
BitJob takes the idea behind the popular freelancer job boards — where job seekers bid on jobs — and focuses them toward micro-gigs. To do this, BitJob uses Blockchain technology to form a platform where employers and students collaborate to the advantage of both in Peer to Peer (P2P) networking. We think of it as concentrating the freelance workforce on “no job too small” platforms.
How do student workers get paid?
BitJob has two ways for employers to pay their student workers. They can use traditional, centralized payment methods, otherwise known as government legal tender. Or they can use cryptocurrency (think bitcoin), which is a decentralized payment platform (not government issued legal tender). BitJob’s cryptocurrency will be called : STU , The official STU crowdsale will begin on September 12th, while early birds can start contribute to this project at the exclusive pre-sale event, starting August 2nd. (Contact the team for more details).
How do BitJob’s team are going to attract students to Join the platform?
BitJob’s foundation is launching an affiliate marketing plan for spreading the word around the world,
In order to reach as many students as possible, The team has came up with a wonderful reward program that will provide their partners with referee rewards and future dividends of every student they will bring into the platform, This way more & more Unions and councils can assist in bitJob’s vision of a global Students employment platform.
How do employers and employees agree on the terms of the arrangement?
No lawyers for these engagements. BitJob uses Smart Contracts for the work. Smart Contracts are a creature of Blockchain technology and, in this instance, supported by Ethereum Blockchain’s smart contract functionality.
Smart Contracts are agreements created by a computer platform. The terms of the Smart Contract memorialize the negotiations between the buyers and sellers but instead of reducing those particulars to a traditional writing, encodes the terms, “written” as it were in lines of code.
The contracts reside in the Blockchain network which preserves and distributes the information. The parties to the contracts remain anonymous. There is no legal system nor any enforcement entity needed. The contracts are “traceable, transparent, and irreversible”, according to Investopedia.com.
Some solid companies have joined in partnership with this innovative platform. They include the Dutch Government’s Blockchain Projects, The Netherland’s Government, Blockchain Association of Canada (BAC), QBRICS, Blockchain Education Network, Cambridge Blockchain, Infolab, University of Florida Gator Bitcoin Club, and Blockchain Healthcare Review, just to name a few.
From the Perspective of the Healthcare Industry
How can the healthcare industry piggyback on this peer-to-peer model? Antiquated best describes our medical records process today. Many of the larger hospitals have graduated to electronic health records but individual doctors, especially in rural areas, have not converted. Their medical records are still filled by paper which makes it very hard to search.
What we need is a way to connect the health records of our personal physicians to the health records in the hospital and to our lab results, and so on. Even the information currently stored on computers is not connected to other computers that have additional health information. Added to that, the individual servers that hold the medical information are easy for hackers to break.
Blockchain technology holds out a potential solution to these connectivity issues. Just suppose, the modern medical record system encrypted an individual’s medical records and stored them on a peer-to-peer network. In much the same way that Blockchain currently stores financial information, or the way BitJob stores potential jobs, Blockchain technology can also store medical records.
Once an individual designates a hospital or physician who then can access the system, all those disparate pieces of medical information come together. Such a system saves on paperwork and repetitive manual data input. Entering information only needs to happen one time because it is then shared among all people who have access to the medical records. And the individual controls how much information from his medical records he wants to give each medical provider.
The U. S. Department of Health and Human Services is so interested in applying this technology to health care that it is reaching out to Blockchain technology experts to explain how it would work in a healthcare setting. In addition, MIT researchers created a prototype where they entered patient data such as prescriptions, medical history, and so on into a Blockchain platform. Then, they experimented to see if specific physicians could access the data. It worked well so now the prototype will expand to hospital networks to see how well it works in that setting.
If you want to learn more about Blockchain in healthcare and its implications, read the marketplace.org article entitled “Using bitcoin’s technology to wrangle widespread medical records” which was an inspiration for this post.