In today's economy, data makes the world go round. One specific instance of this is professional data, which is necessary for companies to make qualified hiring decisions. Unfortunately for them, a lot of the data out there is inaccurate or outright false. That diminishes its value. For their part, real or prospective employees who provide this data on sites like LinkedIn tend to get very little for their effort. The ones who benefit the most are middlemen who are well-known to overtly or covertly sell user data to companies at high prices.
http://mbys.io/
MBYS is a project that proposes to drastically rearrange the professional data market. It would create a blockchain-based network on which users will be able to upload their data and share it with other users or sell it to companies at their own discretion. The same technology will also help verify their information, increasing its value and benefiting the entire employment ecosystem.
How will the MBYS Platform work for you?
Users would access MBYS through a mobile app (or, later, a website) and set up a profile. All professional data they input will be stored on BigchainDB nodes and either decrypted (first name, profession and fields of interest), encrypted (other less sensitive information) and highly encrypted (sensitive information, such as location, college and date of birth). This data will also include their contact lists. Users could connect to other users' profiles for permanent access to their data by scanning QR or using a unique code. Both parties in such connections will be rewarded with the platform's MESH (Mutual Exchange Service Hash protocol) tokens. After that, they will also be able to connect with people in the other user's contact list, in which case that user will act as an intermediary and receive twice as much MESH as the other two (though you will only get rewards for ten connections in any one contact list).
Once a profile gets to ten connections and is validated by two other users (who will also be rewarded with MESH), it will become eligible for data trading. Whenever a company requests data in a specific field or fields, all appropriate users will be notified and allowed to offer their data for sale and decryption. This sale will be done using smart contracts and a modified version of BitShares' Delegated Proof-of-Stake transactions. Twenty random witnesses from among willing users will need to match profiles to requested fields, with their accuracy visible and determining the size of their eventual MESH reward. Every two weeks the least accurate witnesses will be replaced. Participants would need to stake a certain amount MESH to witnesses, with the risk of losing some part of their stake if the latter turn out to be inaccurate. Companies would subscribe to the platform under one of four plans, either enabling one-time data requests or paying for monthly, yearly or biannual use. Half of MESH from data sales will go directly to the users involved, and most of the rest will be used for rewards.
In addition to those trading functions, MBYS will have a number of useful social media features. This includes a smart calendar that could be used to arrange events with other connections, optional reminders and push notifications, contact list customisation and access to a personalised newsfeed that would include posts from the user's connections and companies which the user has either subscribed or sold data to. That last feature could be used for targeted advertising or recruiting at no extra price. MBYS will integrate with a number of third-party services, including other professional data blockchain projects.
Why MBYS might succeed
MBYS' design encourages active and good faith participation on the part of its users and should allow its participant base to expand quickly. The MESH tokens offered as incentives could be used on or outside the platform, with additional uses suggested by MBYS' scalable design and plans to integrate third-party dApps. Compared to existing professional data sites, it offers users both security and a great deal of value for their efforts, while also letting them decide on their preferred degree and method of participation. Meanwhile, companies will have access to more reliable professional data and a pool of easy targeted potential employees. While the platform will have transaction costs based on gas as well as require MESH for sales, it should still be much more affordable than the current industry standard.
http://mbys.io/
In theory, at least, this is a good use case for blockchain technology. That is reinforced by the company's marketing strategy, focused on members of the blockchain sphere and those of a similar demographic profile (young tech-savvy professionals). It would appeal to both their self-interest and the widespread concern with data sovereignty and privacy in the cryptocurrency community. The real ace up MBYS' sleeve would be its apparent success in finding willing partners among major companies, including several prominent banks in different parts of the world (Sberbank, Alfa Bank, Deutsche Bank AG and Citibank). If they start using MBYS as a recruiting platform, that would provide it with a great early boost.
ICO details
A LinkedIn killer?
MBYS is far from the only company hoping to revolutionise the professional data industry and displace LinkedIn with blockchain technology. While this idea is popular for a reason (LinkedIn's shady business practices have been widely documented and it has come under a lot of criticism for other reasons as well), they will have to compete with both each other and a well-established industry giant. Can MBYS really be the one to succeed?
It seems unlikely that LinkedIn will be overthrown any time soon. But there is room for a blockchain-based alternative that could eventually become a strong competitor. MBYS has a number of advantages. Its innovative data marketplace scheme has an obvious appeal, and its initial partnerships should generate interest, especially if they pan out. Ultimately its success will depend on attracting enough users to be worth the companies' time, and enough companies to be worth the users' time.
Ссылки:
Website: http://mbys.io/
WhitePaper: http://mbys.io/docs/MBYS_Whitepaper.pdf
Telegram: https://t.me/mbys_official
Facebook: https://www.facebook.com/MBYSMESH/
Twitter: https://twitter.com/mbysmesh
Medium: https://bit.ly/2v4KmsB
ANN: https://bitcointalk.org/index.php?topic=3148811.0;all
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.