Canlead improves the concept of the social networking that LinkedIn was built on, the sharing economy where Uber and Airbnb found their monumental success, and the token ecosystem in which Aworker, Dock and Libra are building on.
Let's understand how the Canlead multi-party incentive system can motivate a three-sided market of employers, candidates, and referrers to collaborate and create a new "opportunity sharing economy," as envisioned by Michael Quan, Founder and CEO of Canlead.
Canlead can be described as a blockchain-based online job and business opportunity sharing and referral marketplace.
A marketplace because the recruiters, or referrers (which can be any one of us), are working together within a network of interconnected peers. This is the human factor involved in connecting prospects with opportunities (this is called a referral). And, as a decentralized platform, there are built-in incentives for everyone to be motivated to participate with their best intentions.
In the future there'll be a network of millions of active referrers (recruiters, agents, leads) trying to snatch a piece of the pie, right? Well, Canlead has a solution for this challenge, too. In order to provide personalized, engaging, and timely recommendations (be it a job or a business opportunity) to millions of candidates (seekers, friends, ex-colleagues) and customers (employers, owners, providers) referred by millions of referrers, Canlead FEEFER Artificial Intelligence will give each opportunity a corresponding weight. This will be one of the primary metrics for sorting opportunities. The most committed and recently interacted opportunities will have higher weightings while opportunities from a long time ago will have lower weightings.
How does Canlead reward successful referrals? Canlead simplifies the payment process with a set of advanced smart contracts hosted on the Ethereum blockchain. One of these contracts is the Canlead Fee Staking System Smart Contract (FairOp) where the customer or employer is spending tokens to advertise their job opportunities, the referrer is staking tokens with the expectations of getting the offer, and to claim the referral (success) fee directly within the trustless system that the blockchain provides.
Finally, how did Canlead addresses the Proof of Opportunity and Referral challenge? This is expressed in a formula where the whole system enforces good behaviours using a combination of the Fee Staking System and new user roles. The staking fee confirms the commitment of the opportunity provided, the referral made and, at the same time, provides liquidity to the Canlead ecosystem and its CAND token. The additional user roles such as the Verifier who verifies the authenticity of the opportunity and referral, and the Mediator who mediates conflicts between multiple parties; customer, candidate and referrer. Canlead not only solved the Proof of Opportunity and Referral problem but offers a self-governed ecosystem, so no more phoney user profiles, fake opportunities and rip-off fees!
Canlead is on the right track, with an experienced team and a working MVP, but only time will tell if a combination of technologies and the creation of a network of referrers will solve the job searching, recruiting and hiring frustration. There will still be millions of jobs and users available on the Canlead platform as these "traffic" could be sourced from Jobfeed and other services but only the five most suitable candidates are allowed to be referred to each customer's job opportunity by each referrer. By design, the customer or employer gets to choose from a small pool of high quality talents and pay a referral fee on each successful hire. So, in the end, human decides, AI supports, and Blockchain pays. Canlead is just joining the market, while Monster, Indeed, and LinkedIn failed to innovate in all these years of being in the lead.