On the development, Scott Walker, co-founder of DNA, said, "SpringRole is taking an important and risk-managed approach to solving a massive problem in the HR industry globally. By focusing on India, SpringRole has an excellent opportunity to capture market share quickly and build a set of blockchain and API standards that can open them to additional opportunities as they grow."
While the world is divided on Cryptocurrencies, the underlying technology- blockchain-has gained significant impetus. Even in India, the states like Karnataka, Andhra Pradesh, Kerala, Telangana, and Maharashtra are either working on the pilot projects or are in the process of developing PoCs for e-governance, based on blockchain.
Most recently, the Assam government partnered with California-based blockchain startup Nucleus Vision to leverage the Nucleus Vision Blockchain Protocol to build Apps for internal government functions as well as citizen-facing applications.
6Wresearch has projected India blockchain technology market to grow at a CAGR of 58% during 2018-24. SpringRole has certainly chosen a lucrative and widely untapped technology to grow its roots in. However, on the whole, recruitment in itself is a crowded space globally. Particularly in India, we have traditional players like Naukri and the rising brigade of HRTech startups like Skillate, Belong, JobSpire (acquired by JustCode), HackerEarth among others.
Going ahead, how SpringRole will be able to find its way in this crowded recruitment space with blockchain, will be interesting to watch.
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Media Courtesy : Inc42