The 4th Pillar, a blockchain-based human resources and finance connecting platform, has recently announced its Token Generation Event and public sale starting from April 2018. The platform intends to empower people to develop a verified professional history identity, personal decentralized savings crypto fund as well as send multiple cross-border payments, professional documents and make hiring based on verified data. The FOUR token serves as the main value over the platform, fuels and connects the 4th pillar ecosystem participants.
The Nature of the Platform
The 4th Pillar project is a partly private and partly public sale contribution-funded blockchain platform for individuals and organizations. Based on the Ethereum blockchain and teleportation service, the platform utilizes smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by organizations and their employers. For example, it offers:
- An employee distributed professional database having a validated, automated, non-discriminatory evaluation system
- Inexpensive international bank payments & bonus transfers
- Work-related P2P document distribution
The Background
The global recruitment and employment industry has been achieving an annual sales revenue of around €450.4 billion, with an annual increase of 8.6%. ILO modeled 2017 estimates, saying that out of the 7.6 billion world population, 3.3 billion people were employed. In terms of European Union population of 540 million, 215 million active employees are recorded.
In this scenario, one cannot estimate the volume of printing paper used for payroll slips, CVs, etc. It is nearly impossible to gauge the value of commissions paid to banks and other financial institutions for all the transactions related to employees. One of the rising trends in the HR industry is the digitalization of processes, as a probable solution to the present HR challenges. Around 38% of all businesses are already thinking about digital HR, while just 9% believe that they can adopt it at once.
How the 4th Pillar Addresses the Challenges?
The 4th Pillar gives back free choice and complete control over financial crypto savings to the people, eliminating the costs of intermediaries and solving the worker’s digital identity problem and private documentation distribution (i.e. employment contracts, payroll slips, annexes, CVs, medical reports, performance reports, work history reports) at the same time.
The 4th Pillar platform lets organizations transfer digital value directly, eliminating the costs of middlemen. It is the world’s first truly automated and validated employee evaluation system that all recruiters can use in a discrete manner.
The Benefits of the Platform
The decentralized blockchain technology and cryptography make the 4th Pillar ecosystem impervious to attacks and it can resist the influence of inflation. It offers the individuals a total control over their private information and enables them to earn FOUR tokens.
The 4th Pillar’s validated automatic evaluation system is designed to be non-discriminatory and enables significant cost savings for organizations, as they can instantly send payments and paperwork-related documentation to any part of the world for a micro cost – directly to the employee’s personal wallet. Moreover, for the first time in the world’s history, organizations have a possibility to sign up employees to the partly blockchain-based database, where losing data is not an option.
About FOUR Tokens
The platform offers three login options: login for individuals, organizations, and recruiters. When users will sign up for the DAPP (i.e. decentralized application) platform, they will have to complete KYC process, in order for their digital ID to be established.
The 4th Pillar (FOUR) tokens are the atomic units and internal currency of the 4th Pillar applications. All 4th Pillar transactions, gas fees, and personal fund token transfers can be paid in 4th Pillar utility (FOUR) token.
To know more about the platform and participate in its upcoming TGE and Public sale, please visit https://www.the4thpillar.io/