Peoplewave Embraces The Future of HR With Blockchain Technology
[Singapore, 20 April 2018] Peoplewave, a Singapore HR tech firm will fundamentally transform the industry by harnessing the power of blockchain technology with their new platform, Wavebase.
“Hiring people is guesswork. Employers traditionally have to rely on resumes and their intuition to determine the fit of the candidate during the hiring process. Wavebase will allow employers to make faster and better hiring decisions by providing them with authentic and transparent performance and employment information”, said Damien Cummings, CEO of Peoplewave.
Simply put, blockchain is a distributed and secure database. One of the main reasons why blockchain has captured the imagination of many is because of its incorruptibility. Blockchain records and stores every transaction that occurs in the network and each new transaction is added only after being verified by a majority of computers in the network. This creates a “historical ledger” of authenticated and trustworthy data.
Leveraging blockchain technology, Wavebase will establish a database of accurate and verified performance and employment information. The adoption of blockchain technology ensures that such sensitive information remains immutable and secure.
As a result, employers will possess an unprecedented ability to evaluate a potential candidate based on actual, verified credentials and past performance, or even utilise the information right from the start for targeted searches of suitable candidates.
For the first time, employees will get to own their own performance data. Traditionally, performance data is held by the company. When an employee leaves the company, all they are provided with are payslips and reference letters, which do not properly represent their capabilities and achievements. Performance data is valuable personal information and Peoplewave wants to place control back in the hands of the employee.
When asked about Peoplewave’s ambitions, Cummings shared, “Peoplewave is growing fast and changing the game for HR leaders and employers. We plan to be the biggest company in HR on the blockchain and to absolutely disrupt how people use and benefit from employee performance information - revolutionising recruitment, background checks, onboarding, performance reviews, employee development, and people management.”
To obtain the resources to make Wavebase a reality, Peoplewave is embarking on an Initial Coin Offering (ICO) and the presale is now available till 25th May 2018. Details on how to participate can be found at www.peoplewaveico.io.
Peoplewave is Asia’s leading blockchain-ready HR software company. It is revolutionising hiring and people management with data-driven, transparent feedback and verified performance data on its blockchain platform, Wavebase. Peoplewave offers 3 key products - the "First 100 Days": a new hire onboarding tool; "Performance Wave": continuous 360-degree performance appraisals; And the "HR Command Centre" analytics suite, which unlocks employee data and insights.
Peoplewave successfully raised $500,000 seed funding from a series of angels and aligned companies in the HR field in December 2017. The company has been named “Top 50 Most Promising Enterprise Start-ups in Asia Pacific” by CIO Outlook Magazine and more recently, “Top 20 Hottest Singapore Start-ups” by Singapore Business Review.
About The Team
Peoplewave was founded by Damien Cummings in Singapore in January 2017 and later joined by Phil Aldridge in April 2017 as Chief Technology Officer and co-founder. Cummings was a corporate high flyer with over 20 years in marketing and digital transformation leadership roles with renowned brands. When Cummings was inexplicably retrenched from his last role as Global Head of Digital for an international bank, it became clear to him that HR had to be made more transparent, data-driven and fairer to both the company and employee. This resulted in the birth of Peoplewave.
Today, Peoplewave boasts a world-class team of 19 team members in 4 countries with experience in technology, development, marketing, product management, user experience, and more.
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