The 4th Pillar has already impressed early investors with its unique and eco-friendly business solutions. Perhaps one of its most impressive features, however, is its IPFS-based sensitive document distribution system alongside a new registered mail postal service.
Protecting Sensitive Documents
The 4th Pillar is a human resource (HR) and finance platform for both individuals and organizations, with a highly experienced team running the show. It’s based on the Ethereum blockchain and utilizes smart contracts, wallets and an IPFS protocol to solve everyday problems experienced by both job seekers and prospective employers. As an added benefit, The 4th Pillar helps protect the environment by drastically reducing the use of paper and minimize participating companies’ carbon footprints.
The 4th Pillar offers three primary innovations by utilizing blockchain technology. In addition to a secure database of prospective employees with verified work histories and a wallet system capable of sending multiple payments from an organization to individuals, the project features an IPFS-based sensitive document distribution system alongside a new registered mail postal service.
Private document distribution is one of the largest issues facing organizations and businesses of all sizes. With employment contracts, payroll slips, work annexes, CVs, medical reports, performance reports, and work histories all primarily recorded on paper and delivered via closed envelope, security breaches are common — not to mention the negative environmental impact from the production of so much paper.
The 4th Pillar uses blockchain technology and an interplanetary file system (IPFS) in order to provide a streamlined and smooth platform for the safe storage of valuable documents, while also allowing for the direct transaction of said documents from employer to employee — without the need for a middleman. Such a system allows individuals to retain complete control over their professional documents.
The beta version of this document transacting system is currently scheduled for launch in September 2018, while the team works on a new 4th Pillar Add-On featuring a new and improved code. Furthermore, document transfer will be backed by smart contracts — ensuring maximum security and transparency.
An Example Use Case
So how does it work in the real world? Here’s an example.
Let’s say that Jane has worked as an account executive for 12 years. Recently, her employer has decided to utilize The 4th Pillar’s platform, which means that Jane now receives all of her payslips and work-related documentation in her own, personalized digital wallet.
Such a system benefits both Jane and her employer since it cuts down on both costs and paper usage while letting Jane keep complete control of her important and sensitive documents in one private location.
Jane then decides to make a career move and switch jobs. Naturally, her new prospective employers would like her work history. Luckily, Jane has all of her work-related documents saved in one secure location, and is able to quickly, easily, and safely share the required documentation with her interviewers. In fact, the need for a CV is completely removed, as everything her prospective employer needs to know is available instantaneously.
Perhaps the most important aspect of this system is that Jane’s documentation has all been verified by her past employer, so her future employers can trust that all of her information is accurate — eliminating the need for a CV or reference calls.
This obviously puts Jane at a competitive advantage over anyone else applying for the same job, who doesn’t use The 4th Pillar.
If you’d like to learn more about what The 4th Pillar has to offer, check out the project’s official website.
What do you think about The 4th Pillar’s disruptive potential in the HR industry? Are you interested in maintaining complete control over your verified professional identity and sensitive documents? Let us know in the comments below!
Images courtesy of The 4th Pillar, Shutterstock