We should give the power back to the user
Professional behavior and data is worth billions to companies — should professionals be compensated for this?
The market opportunity of professional recruitment and social sale —a market worth nearly 1,000 $Bn— is broken. Businesses today contend with middlemen across the recruiting and social selling stacks. The incumbent recruiting and social selling platforms (e.g., Linkedin, Xing) charge outrageous fees to businesses trying to find candidates or buyers. Professionals do not receive any compensation for that. The more businesses pay to intermediaries the more bothered and not compensated are the professionals. Businesses end up getting no return on their investment and professionals end up receiving a lot of meaningless offers, creating a lose-lose situation.
Large online recruiting and professional social sales businesses are also missing out on the enormous market opportunity because they are not motivated to optimize the business-professional, professional-professional, and recruiter-candidate value chains. Insteads, these businesses work tirelessly to maximize their own return by providing apparent value added to professionals, while they store their professional datasets behind closed gardens of fragmented, proprietary networks.
In the current professional ecosystem, businesses are forced to pay large amounts of marketing capital to recruiting and social selling “middlemen”, who weakly target contacts but provide little-to-no direct value to the professionals. This is a lose-lose scenario for professionals and businesses, while the traditional professional networks and recruiting intermediaries get richer in the process.
Nowadays, professionals have completely lost control of their data. Professional networks and job portals, such as Linkedin and Xing, sell their data to anyone who wants to pay for it. Professionals are not only continuously bothered, but never receive a compensation for it. Furthermore the prevailing system is not good for businesses either: they make investments without being sure of having a return on investment. The current model makes it almost impossible to gain access to highly qualified professionals and, on top of that, the success rate is rather low.
On our ideal platform we should give the power back to the user. Professionals should control their profile, decide who has access to their data and are paid each time businesses or other professionals use their data for any purpose. We want to create technology that allows professionals to easily store and manage their profiles, that are accessible by third parties.
The future beBee will allow businesses to make appropriate payments for a professional's data regardless of the organization in which that person's information is located. Intermediaries will be eliminated and interactions will be facilitated by the network itself. Instead of paying any middleman, businesses automatically make customized offers directly to professionals based on their reputation and profiles through a decentralized platform.
Global markets demand solutions that Respect Professionals Privacy.
Large online centralized networks are also facing regulatory pressure to protect professional and consumer’s privacy. Recent changes to the ePrivacy Directive and the General Data Protection Regulation (GDPR) in the European Union (EU) highlight the emerging trend of governments forcing technology businesses to build-in professional and consumer privacy by design. It is well known that actionable data from professionals and customers have intrinsic value. Enabling professionals to control their own data and providing incentives for them to share their data in a privacy-conscious and controlled manner creates new opportunities for professionals in compliance with regulations. The privacy requirements of the global marketplace are a key short-term factor for technology solutions that enable anonymous searching across large professional datasets.
beBee firmly believes that blockchain is a powerful emerging technology that enables more engagement and collaborative economy without the need for a central authority.