HireMatch ICO Review
The recruitment industry is big business, it would therefore only be a matter of time before the first decentralised application would show up.
The wait wasn’t that long as it is currently running it’s ICO.
HireMatch.io a decentralised application, also known as DApp.
HireMatch aims to eliminate the middle man in the recruiting business.
Like expensive third part intermediaries when business are looking for new talent to hire.
It kills two birds with one stone.
(1) No more necessary high fees
(2) Faster process my skipping the middle man
If you are familiar with (corporate) recruiting you know how awfully long these processes can be.
Endless stages from intake calls to selection, to weeks later actually hiring someone and getting the commission.
Now, anyone could gain that commission. Contracts will be closed faster and therefore, less operation fees.
Sounds pretty good right? Let’s have a closer look!
Note: HireMatch Raised over $343.000 in the first 2 hours of the ICO
This Initial Coin Offering has only been up for a couple of days and has already been mentioned by The Coin Telegraph, IcoBench and Bezinga!
We try to provide as much information as possible in this Hirematch ICO Review so you can decide if this ICO is worth investing in.
Not a setup you often see, HireMatch is missing the experienced blockchain experts on the team.
After researching the LinkedIn profiles, we have to conclude that only Mr. Pantoja seems to have some form of blockchain experience under his belt.
Co-founder Armando Pantoja seems the only one with actual blockchain experience on his LinkedIn.
This doesn’t necessarily mean the others don’t but they just don’t have the information available on their LinkedIn accounts.
However, as HireMatch will be used as a recruitment tool it is very positive to see Michael Woloshin as a Co-founder.
Woloshin is the CEO of Recruiter.com and therefore has earned his stripes in the recruitment business.
Furthermore there is Chad Kettering as a Co-founder, not much information is available on him as a business person.
The advisory team consist of six individuals, which all seem well connected in the human resources industry.
Companies like Nestle, Koger and Randstad are represented.
It appears they have selected the advisory team based on industry connection and influence, which is a plus.
Arash Enami – Technical Product Advisor
Profiles shows relevant experience in blockchain and is also an advisor for Rhovit (another ICO).
M.J. Pantoja – Human Resource Expert
Managed various HR positions at Koger and now work for Nestle Waters as a HR Manager
Baer Noldus – Industry Advisor
General Manager at Randstad New Zealand
Matthew Loughran – Strategic Advisor
Proven track record of ICO and blockchain events, solid advisor for the strategic plan of HireMatch.
Experienced lawyer, has been very actively posting blockchain and ICO related content.
Stephane Himbert – Community Manager
General ICO information
Ratio: 1 ETH = 2100 HIRE (ICO Rate)
Supply for Token Sale: 78 000 000 HIRE
Crowdsale : November 15th 2017 to February 15th 2018
House Fund: 11%
Twenty five percent of the funds companies funds will go to marketing.
Twenty five percent of the funds companies funds will go to operations.
Ten percent will be legal costs.
Forty percent of the capital will be spend on research and development.
Smart Contract Powered
Every job that is posted is listed as a Smart Contract. Every agent who had a part in the hiring of a new employee will receive a part of the final bounty.
Open access to the HireMatch API will enable innovative applications and processes to deliver better and higher quality candidates through referrals and validation. Using the API model, HireMatch hopes to expect exponential increase in the agent’s effectiveness and quality, as well as a dramatic increase in the value of their tokens.
Reducing Hiring Costs
The general idea of HireMatch is to reduce the cost to find, interview and acquire new employees. Their ERC20 token which will function as a utility token is called “HIRE”.
On the platform anyone can get paid to help others find jobs, and to help companies find employees
The crowdsourcing should increase the creative and competitive spirit of people all over the world, enabling them to solve big problems as well as small ones. By tokenising and decentralising the recruitment process, HireMatch.io shall effectively lower the resource acquisition cost and create a more democratic and freer job market.
January 2017 – Hirematch Version 1.0 Released
March 2017 – Mobile UI Completed
June 2017 – Quant Index / HireMatch Parent Incorporated
October 2017 – Public Token Sales Began
November 2017 – Pre-sale ended, Tokens Distributed
Q4 2017 – Crowd-sale Started
Q1 2018 – Review App Release (Alpha Version)
Q2 2018 – Public Beta Launch
Q3 2018 – Public Release Candidate Launch
Q4 2018 – Begin Onboarding Companies
Pros and Cons
- They seem to have a relatively short execution plan, all main goals will be completed before end 2018
- HireMatch websites mentions an interested big exchange to list them
- Active support channels [Telegram,Twitter etc]]
- As a utility token, US residents are allowed to participate.
- Only one strong and experienced player in the founders team
- Very short white paper, still have questions after reading it and FAQ doesn’t help much
The HireMatch Whitepaper ( click here to open PDF ) contains all essential information but not really more than that.
It contains information about the token distribution and usage by the company which is crucial for investors.
Its also goes into detail how the platform will function. Although only three pages of real information it was sufficient to get an idea what this company is about.
However, more information like in the FAQ on the website could have been included.
Overall HireMatch seems to be a decent ICO. The company has a very clear goal and some experienced members and connections on board to make it actually happen.
The goal is very clear and unique but most of al very achievable.
Too many ICO’s nowadays try to aim too high and unrealistic.
HireMatch stayed clear of this and created a solid campaign.