Recruitment business takes interest in technology company to deliver more secure platform.
Recruit invests in the block.
Tokyo based Recruit has invested in Blockstack, a US based company which offers a distributed computing platform utilising blockchain technology.
The company has noted that in conventional client-server systems and cloud computing services that harness IT resources on demand, data used is stored server-side giving the possibility that user data can be leaked. Under the Blockstack platform users themselves are able to securely manage their own data.
Blockstack provides a secure application development environment which eliminates the need for traditional client-server systems and cloud computing services, and protects user data. Specifically, Blockstack offers user-specific storage and multi-purpose authentication systems for users to securely manage highly confidential information such as their personal information, which allows them to have direct ownership and control over that data. By adopting an authentication method that employs public-key encryption which is more secure for protecting confidential information than conventional password-based authentication, Blockstack allows users to manage the data that is used for authentication purposes. This creates a system that is more effective at preventing data leaks and protecting user privacy.
Through its investment, Recruit supports the expansion of the platform’s user base. Blockstack will be working on platform development and expanding its sales activities using the funds raised. The move further demonstrates Recruit’s interest in blockchain technology and its possible use within the industry in the future. The business will continue to uncover new technologies, new business models, alongside business opportunities for Recruit Group in the area of blockchain technology, with the goal of contributing to the development and increased awareness of this technology.