MyStandard Introduces MYST Token to Transform Talent Acquisition with Decentralized Technology
Staff Writer • 2024-12-13
SAN FRANCISCO, – MyStandard, a decentralized data marketplace aimed at revolutionizing the job search and talent acquisition process, has announced the launch of its MYST token. Leveraging blockchain technology, MyStandard ensures secure data ownership for job seekers while offering employers a bias-free, merit-focused approach to talent discovery. This innovative platform is set to redefine the $58 billion online recruitment market by addressing critical issues of data privacy and candidate empowerment. The first opportunity to engage with the $MYST token will be through three major launchpads: Republic (via Reg D*), Avalaunch, and Seapad. A New Era for Talent Acquisition Traditional job platforms often expose candidates to indiscriminate data usage and biased recruitment practices, with recruiters making quick judgments based on superficial details such as photos and names. MyStandard offers a groundbreaking alternative. By placing candidates in control of their data and enabling secure transactions through blockchain technology, MyStandard ensures only legitimate job opportunities reach job seekers. "With the online recruitment market expected to be valued at $58 billion by 2032, the need for new technology that protects job seekers has never been greater," said Adam Zec, co-founder and CEO of MyStandard. "Current job platforms leave candidates’ data exposed. We’re putting candidates back in the driver’s seat when it comes to sharing their information with prospective employers." MyStandard’s decentralized approach eliminates biases and ensures that candidates are evaluated purely on merit, helping employers connect with the best talent while preserving data privacy. The Role of Blockchain in Secure Data Transactions By leveraging blockchain technology, MyStandard provides job seekers with true ownership of their data. Unlike traditional platforms, where candidate information is often misused or undervalued, MyStandard’s decentralized framework allows candidates to selectively share their data with potential employers, who must pay for access. “Blockchain technology offers the only way for someone to truly own their data or anything else in the digital world,” explained Joshua Sklut, co-founder and COO of MyStandard. "When someone pays the rightful owners for access to their data, they value it more." How the MYST Token Powers the Ecosystem MYST tokens serve as the cornerstone of the MyStandard platform, promoting growth and rewarding both users and holders. Organizations use MyStandard to purchase data requests. The process involves MyStandard acquiring MYST tokens from the open market and depositing them into the organization’s wallet. Tokens are then used to reward successful data transactions with users. This innovative system ensures that tokens re-enter the market only after being allocated as rewards for verified data transactions. “This approach removes the complexities of requiring cryptocurrencies to use MyStandard,” added Zec. “MYST tokens purchased through this method can only re-enter the market via successful data transactions with users.” Additionally, organizations are incentivized to validate user data, enabling them to earn more searches while fostering a secure and trusted data ecosystem. Empowering Job Seekers and Employers Alike MyStandard’s unique model benefits both job seekers and employers by creating a fair, merit-based hiring process. Job seekers gain control over their data and avoid irrelevant or spam job offers, while employers access verified, high-quality candidate information. As the recruitment landscape continues to evolve, MyStandard’s MYST token and decentralized platform represent a critical step forward in addressing long-standing challenges of bias, inefficiency, and data misuse in talent acquisition.
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