HOLTSVILLE, N.Y., Jan. 28, 2020 /PRNewswire-PRWeb/ -- Cisive, a global provider of compliance-driven human capital management and risk management solutions, joins 14 leading, enterprise multinational labor market organizations to launch the Velocity Network Foundation (VNF). VNF is a collaborative, vendor-neutral, nonprofit organization established to define, deploy, and champion the Velocity Network: a globally accessible, trustworthy "Internet of Careers" powered by innovative blockchain technology in response to growing data privacy, security, and market pressures.
Velocity Network Foundation, with its Founding Members Aon's Assessment Solutions, Cisive, Cornerstone, HireRight, Korn Ferry, National Student Clearinghouse, Randstad, SAP, SumTotal Systems, SHL, Ultimate Software, Unit4, Upwork, Velocity Career Labs and ZipRecruiter, is reinventing how people manage their career credentials. Combined, the Velocity Network Foundation's founding members have career-related data for more than 700 million individuals in their systems, including billions of professional and student credentials and assessments, as well as employment and contract work records spanning job information, pay histories, competencies and more.
"Career Credentials Data is key to sustaining labor markets' efficiencies and has enormous potential upside for individuals and businesses," stated James Owens, President and CEO at Cisive. "And, as Artificial Intelligence in HR gets smarter and more focused on solving specific problems, we all expect to see even further capabilities: smart matching of individuals and career opportunities, predictive analytics and smart people development recommendations."
By helping individuals to aggregate, maintain and securely control access to a comprehensive, trustworthy record of their verified career credentials spanning education, projects, skills, work history and more, Velocity Network helps businesses make workforce decisions based on trusted, immutable data. This reduces the time and costs associated with talent processes such as candidate screening and acquisition while reducing risk and gaining compliance in an increasingly global labor market. The Velocity Network provides a trusted, private and effortless way for people to take ownership of their career credentials, choose whether to share them, and decide how that data is used by others.
The Velocity Network is governed by a collaborative, democratic, nonprofit foundation, set out to put people back in control of their data by leveraging transformational blockchain technology – open source, trusted and self-sovereign. The Velocity Network will foster a thriving ecosystem of contributors to adapt and build on top of it, including the ability for members of the network to leverage open source technology to build blockchain issuing and verification functionality into their own proprietary technologies.
About Cisive
Cisive is a global leader in compliance-driven human capital and risk management solutions, providing onboarding and pre-employment background screening solutions to address the complex challenges and needs of large enterprises with dedicated, in-country account management teams committed to customer satisfaction. Cisive is accredited by the Professional Background Screeners Association (PBSA) and was named for the third consecutive year by HRO Today to the 2019 Baker's Dozen Customer Satisfaction rankings of Top Pre-Employment Screening Providers, in addition to being named Company of the Year by CIO Review. The company and its brands serve clients in financial services, transportation, telecom/media, healthcare, utilities and the home services end-markets, among others. For additional information, please visit http://www.cisive.com.
About the Velocity Network Foundation
The Velocity Network Foundation is a nonprofit organization established by Velocity Career Labs, a developer of innovative blockchain technology. The Foundation exists to govern the use of the Velocity Network by all involved parties; continuously build the rulebook, a common framework that ensures operational consistency and legal clarity for every transaction; promote global adoption and support among stakeholders and constituents; guide the development of the decentralized protocols; and support research and development of applications and associated services, fostering a community of open-source developers. http://www.velocitynetwork.foundation.
SOURCE Cisive
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