WHAT IS 4TH PILLAR?
Written by Štamcar Urban on May 11, 2018
4th Pillar – it’s going to shake up the HR industry to its core and change the way recruiting was managed for the last 70 years.
4th Pillar is a digital platform with three innovative solutions based on Blockchain: Multiple payments system, document distribution, and verified recruitment. It runs on FOUR token – 100% permanent utility token.
Most, if not all competitive businesses run, more or less, the same HR processes and most of them agree that manual effort is one of today’s biggest challenges. Teams can easily spend hundreds of hours just combing through the data stored in out of date systems. And the data they acquire lacks validity and consistency. Even if the various disparate tools that affect human capital are aligned, that’s no guarantee the data contained within them is easily accessible, shareable and visible to all relevant stakeholders. 4th Pillar will disrupt the old and out of date HR processes that have not changed for the past 70 years.
Over the years, we have experienced a substantial lack of workforce in Europe. It is time to change and upgrade the HR industry. To list a few facts in the human resource industry:
- Finding an adequate number of qualified candidates is becoming harder every day.
- Dealing with high employee acquisition costs and non-transparent employee history (including data in the existing CV) is becoming a nightmare.
- There is great difficulty in defining incentive schemes for employees to change jobs.
- It is almost impossible to acquire reliable work history when recruiting cross-border.
- 38% of companies are thinking about digitizing their HR operations and are in dire need of a suitable affordable technological solution.
- A significant amount of manual labour (216 million working individuals in Europe alone).
4th Pillar is a human resource (HR) and finance connecting HUB for individuals and organizations built with over 22 years of experience. Based on the Ethereum Blockchain or DLT (distributed ledger technolog) and teleportation service, the platform utilizes smart contracts, wallets and IPFS protocol to solve day-to-day problems experienced by employers and employees. Their solutions drastically reduce the use of paper as well as help reduce the carbon and ecological footprint.
4th Pillar offers innovative Blockchain / DLT solutions:
- Wallet system capable of sending multiple payments from an organization to the individual
- DLT & IPFS based sensitive document distribution and new registered mail postal service
- The possibility of recruitment based on verified work history
They are proposing a system that enables employers to reward or transfer FOUR tokens directly to their employees without any intermediaries, saving cost and time. The goal is to build a self-managed and decentralized 4th Pillar personal savings fund, which will be funded by the individual’s work organization.
The 4th Pillar also provides a more efficient and elegant possibility to securely send confidential and valuable documents directly from employer to employee. By using Blockchain & IPFS they offer the infrastructure with which users can access their documentation through a strongly encrypted hash. This way the HR industry will no longer need to use paper.
Lastly, the 4th Pillar platform will enable the first DLT professional identity database with a non-discriminatory evaluation system. With this database, HR recruiters will easily access quality workforce and decide on suitable candidates. Individuals will become more visible and evaluated based on their work, not discriminatory facts. Overall, the system will make the recruiting process easier and more transparent.
What makes the 4th Pillar platform unique is the way their product is conceptualized, developed and integrated into the business. The 4th Pillar platform is DLT-based and combines several solutions that solve many well-known HR pains. Three of four founders are HR experts, working in the human resources industry for several years as executives and leaders. Their experiences and understanding of the HR field are the base for the platform supported solutions. To go even further. The 4th Pillar platform has great possibilities for the future as it has the potential to expand and target the wider market due to the fact that it will offer multi-field solutions. The important difference that separates them from the rest is the fact that this platform is not just an idea. They have already developed a working BETA for the first function – Multi wallet value transfer (https://www.the4thpillar.com). The 4th Pillar platform will combine functions that (in this form) are not offered by anyone on the market today.
Together with users – they are building a future – a green future. The 4th Pillar solutions will reduce the need for paper in the HR industry and elsewhere. 4th Pillar will make the HR industry and the world greener.
4th Pillar is not a start-up, but an expert team of 30+ people. They have an amazing team of experts. Their founders come from HR and know the problems of this 500-billion-dollar industry. To realize these solutions, they have programming specialists and a strong advisory team. To ensure the legal background the 4th Pillar team partnered up with Jadek&Pensa – one of the strongest legal firm in the blockchain. From the early adopters to the operational team – everyone put their heart into this project and are working day and night to make it a reality.