Peoplewave, a Singapore-based HR tech firm, last week launched an initial coin offering (ICO) presale for its blockchain platform, Wavebase, with a 50 percent bonus through May 25.
“The HR industry is overdue for disruption,” stated Damien Cummings, Peoplewave’s CEO. “Blockchain allows us to cut out the middleman and speed up the hiring process by providing both employer and employee with accurate, verified employment and performance data.”
The company says there is opportunity for blockchain to revamp HR operations from pre-employment screening and background checks to recruitment and talent acquisition.
Wavebase will establish a distributed database of accurate and verified performance and employment information on blockchain, to ensure such information remains secure. This will also allow employees to own their performance data, a statement said.
“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,” Cummings said.
Peoplewave raised USD 500,000 in seed funding from a series of angels and aligned companies in the HR field in December 2017 and has been named among the “Top 50 Most Promising Enterprise Start-ups in Asia Pacific” by CIO Outlook Magazine. More recently, it was listed among the “Top 20 Hottest Singapore Start-ups” by Singapore Business Review.
Popular listings site, ICO bench has awarded the Peoplewave ICO a 4.8 rating and, according to a statement, the company is also running a bounty program.
Peoplewave was founded by Damien Cummings in Singapore in January 2017. Phil Aldridge joined the company in April 2017 as chief technology officer and co-founder.
Cummings brought more than 20 years of experience in marketing and digital transformation leadership roles with renowned brands, the company said.
Peoplewave currently operates with 19 team members in four countries.