Monday, February 26, 2018

Science's SpringRole Targets Professional Networking With Blockchain

Los Angeles-based startup studio Science Inc. has officially launched a new company, SpringRole, which it says will use blockchain to create a new, professional reputation network. The new network looks to be taking aim at LinkedIn, currently the dominant professional networking service. According to Science, the use of blockchain--the core technology behind the cryptocurrency Bitcoin--will elimate fraud from user profiles, by attaching a cost to endorsing others. SpringRole's service uses a "endorsement protocol" which includes a cost associated with making an endorsement, with costs increasing as users endorse more users. The company said that, when people they've endorsed get paid or hired, they receive money for their endorsement. Science said SpringRole is the very first, blockchain-based network incubated by Science Blockchain, which is the startup studio's new Blockchain investment fund.