Searching for the next Ripple (XRP) with Hirematch.io (HIRE)
A wave of second generation cryptocurrencies
The first generation of crypto coins like Bitcoin (BTC) and Litecoin (LTC) are growing long in the tooth, relatively of course, to the second generation of coins like Ripple. The coming second generation of blockchain companies are looking to be more than just a holder of value when developing business plans. Ripple is trying to revolutionize how people, businesses, banks and perhaps governments transfer money internationally utilizing blockchain technology. Recent partnerships with American Express and Santander seem to indicate Ripple might be on to something.
So who is the next Ripple? Who is seeking to revolutionize a $billion dollar market by using blockchain technology and cryptocurrencies? Recently we saw Power Ledger (POWR) receive grants from the Australian and local governments in a public private partnership to help with energy and water conservation projects. The news caused a large run in price and valuation near $300 million for Power Ledger.
Enter Hirematch.io (HIRE)
One candidate to become the next Ripple or Power Ledger is Hirematch.io (HIRE). Hirematch is building a business based on the Ethereum (ETH) smart contract technology in a bid to disrupt the jobs listing and recruitment industry which is valued at $400 billion worldwide. LinkedIn (LNKD) for instance has a market cap of $26 billion and was purchased last year by Microsoft (MSFT) for $26 billion and even installed the founder of LinkedIn Reid Hoffman to the Microsoft board of directors.
Currently the recruitment industry is dominated by large players at Monster.com, Indeed.com and careerbuilder.com. In the end all of these websites are places for employers to post jobs while waiting for suitable candidates to apply. None of these websites have incentive based recruiters who can build APIs to facilitate matching candidates to open positions. This will help mine data from social networking sites like Facebook and LinkedIn to match prospects to jobs.
How it will work – The basics
The new incentive based market works around a closed system and a token called HIRE. Both employers, job seekers and recruiters can purchase HIRE to participate in the market. Employers post jobs with specific requirements and a bounty in HIRE tokens. The listing is certified on an Ethereum based smart contract and executed. Once listed, recruiters can then seek to match prospects to the listing. Interviews and hires of acceptable employees then results in paying of the bounty automatically from the smart contract to the recruiters who took part in the contract.
With incentive and competition comes innovation. Recruiters can build APIs which can automate much of the recruitment and search information to better pare down candidates and seek out the right fit for a job. This will help create a faster match to jobs and completed hiring process. Rather than waiting for candidates to find a listing employers can now open it up to a competitive market of recruiters and pay the best recruiters.
HIRE tokens are closed within the system and fixed at 100 million tokens at full supply. Demand for listing jobs, recruiters, job seekers will cause the coin values to fluctuate based on demand. The dev team plans on listing on major market exchanges with announcements soon although no dates have been provided.
Buying HIRE – The crowdsale
UPDATE – Please Update Your Profile! – https://t.co/eAx6fYG5zQ
— HireMatch (@hire_match) November 28, 2017
There are two ways to acquire HIRE tokens. You can sign up at the official crowdsale registration at a current price of 1200 HIRE = 1 ETH. This places each token at a value of $0.3975 and market cap of $39.75 million. Given the market cap of Ripple (XRP) of $10.4 billion (at time of writing) and Power Ledger (POWR) of $300 million this seems to present good value and room for appreciation.
You can also earn free HIRE by spreading the word around social media via the bounty program. Details can be found at the bitcointalk forum posting for Hirematch.io. While we are not participating, please let them know you heard about HIRE from the article on cryptogazette by posting a link to this article.
Why this might be the next Ripple (XMR)?
Ripple is moving into an established market that was burdened by significant fees, slow processing and difficult to manage regulation and is succeeding because established players see the benefit and are signing up to use Ripple. Now Hirematch.io is doing the same for the job market and search industry. The road forward is the public launch in Q3 2018 with onboarding of partners and companies in Q4 2018. Hirematch is in the infant stages but has a working alpha app based on proven Ethereum smart contract technology . Once companies see the cost savings, speed, and effectiveness we might see the value of Hirematch.io increase dramatically just like we have with Ripple. Look for more to come from us as we dive deeper into this company over the coming days and weeks. For now check out the following links for more information and post a link to our article at the bitcointalk forum to check out details of the bounty program.