Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - Smart Certificate (The trusted solution for issuing certified documents to the blockchain, checkable in just a click)
Teaser
Although ~25% of applicants lie about their experiences and expertise in their CVs when applying for a new job position, there is no secure and effective tool to detect fraud in the recruitment sector, putting pressure on both recruiters and applicants. Due to lack of trust in...
Summary
Although ~25% of applicants lie about their experiences and expertise in their CVs when applying for a new job position, there is no secure and effective tool to detect fraud in the recruitment sector, putting pressure on both recruiters and applicants. Due to lack of trust in the recruitment sector, honestly earned degreed are devalued, making recruitment processes complicated, eventually damaging the reputation of education institutions and training organizations.
CVTrust has created Smart Certificate 2.0, a universal stamping machine that builds TRUST by digitally generating and sharing any kind of certified document, making its verification accessible online with just 1-click. The SaaS solution is based on a patented business method and includes secure and decentralized technologies guaranteeing the integrity, authenticity and validity of digital documents and so makes fraud impossible. Smart Certificate 2.0 revolutionizes the education and recruitment sectors by solving all the different needs related to credentials´ certification and validation in a unique, centralized, 100% trustable platform, available both in a website and in an app.
A feasibility study is needed to confirm that there is a real market opportunity whilst the conditions for the commercialisation are beneficial.
Work performed
Creation of a work plan of technical activities needed to complete the innovation, divided in three main areas: product design, app development and back-end optimization.
According to the market analysis, the global e-learning market is expected to reach $398.15 billion by 2026 from $176.12 billion in 2017. Corporate e-learning sectors are expected to grow at the fastest pace.
The freedom-to-operate demonstrates that CVTrust is not-infringing patents or pending patent applications of others. CVTrust has decided to protect its software in every target market through copyright.
The business plan demonstrates that the business idea is profitable and it has a positive impact: moving from a traditional business approach to a pure SaaS model will allow to create a universal label of trust for the education and recruitment sectors.
Final results
The evolution of Smart Certificate will allow CVTrust to generate €66.75M of revenues during the period 2021-2025, and a total net profit of €49.86M. Moreover, the project will have a remarkable impact on CVTrust´s performance by 1) making the solution accessible to any kind of institution, 2) expanding to new markets, and 3) creating job opportunities.
Website & more info
More info: https://cvtrust.com/.