SpringRole SWOT Analysis (new FIRE ico)

in cryptocurrency •  2 years ago 

SpringRole is a new blockchain-powered platform that will remove information asymmetry in the employment process. It provides an immutable ledger where any worker’s data needs to be verified only once; the platform works somewhat similar to LinkedIn, but the information each candidate provides on SpringRole is credible.

Read on to learn about this project’s strengths.

SpringRole SWOT Analysis

SWOT analysis sheds light on the potential of a project.

Strength.png

SpringRole is one of the few projects that has a working prototype that the public can try prior to the ICO. Understandably, this has brought in a lot of interest in to this project and this is a great benefit beyond capital raising.

SpringRole’s Telegram community is comprised of nearly 50,000 members and this figure is growing rapidly. This allows the company to jump-start the launch of their platform by having such a large community on it already. Additionally, from a marketing perspective, SpringRole’s community is wide and global enough to allow the company to reach a great market depth through sheer word of mouth. This factor is extremely important as SpringRole does not have a high hard cap and that means limited marketing funds. SpringRole will be able to leverage its community to reach the necessary product awareness; conveniently, it has enviable support from a massive, loyal backing.


Weakness.png

SpringRole is providing something that has been regularly likened to the LinkedIn on blockchain. SpringRole is indeed a professional networking/social media platform, but it adds value to the interactions taking on the platform and ensures that the information being provided by anyone on the platform is credible.

Despite the benefits, the fact remains that SpringRole is a (massive) upgrade to an existing platform and it takes time for the masses to adopt new, better services. For example, despite Google’s deep market penetration, it took the company years to overtake internet explorer; similarly, SpringRole would need time to reach its full potential.


Opportunity.png

Millions of vacancies need to be filled every year and that has caused the employment process to become an industry of its own. Even though the internet has made communication easier than ever before, thereby allowing jobs to be easily placed in front of the eyes of thousands, there isn’t a feasible means to prune through the applicants to narrow down to those who are genuinely qualified as anyone can falsify data on a resume/CV.

The employment industry is plagued with information asymmetry and falsification of CVs; now, SpringRole is providing the first ever tool to companies with which they can accurately pin down on genuinely qualified candidates with properly verified profiles. SpringRole stands to bring the greatest shake up to the employment industry since the first job vacancy was placed online. The platform targets a key inefficiency in the market and offers an accessible, simple, and convenient solution. SpringRole could become the most important resource in the hiring industry.


Threat.png

SpringRole is developing a platform that requires usage by the masses to be successful. Many of the interactions on the platform require SPRING tokens. A vast portion of the world has not adopted cryptocurrencies yet; SpringRole has an uphill battle to fight as it isn’t just pushing its own platform, but also the mass adoption of crypto.

However, SpringRole offers a dual monetary incentive: an opportunity for people with valid accomplishments to genuinely stand out during job searches and also an opportunity to earn SPRING tokens. Money is perhaps the greatest incentive that can be offered and people go through great loops to get a desirable job. Perhaps this dual monetary incentive could finally be the key to bringing everyone on board to crypto.

Wrap-Up: SpringRole is a brilliant concept, which, reinforced with the support of a massive community, is ready to transform the employment industry by removing the problems the industry faces due to information asymmetry.

SpringRole Essential ICO Links

🌐 Website: https://springrole.com/
💡 Whitepaper: https://www.dropbox.com/sh/ws5qx6h9whhesib/AAC3zGiElBO1p2zLGxf_3SL3a?dl=0
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3556999
💻 Telegram: https://t.me/springrole

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Followed and upvoted you because I closely follow some ICOs and am always looking for the best one.

I'm not even going to look into Springroles, it's a silly name, I've seen similar concepts for verifying a persons claims on a resume before (APPII, Echolink, etc.) Why would this company stand out? I think an app would have to work closely with LinkedIn to stand a chance and they're already looking into such solutions.

Also, why does this company need their own blockchain? Could they not just make a DApp, we are already swamped with low value tokens.

Hi @crypticat, Thank you for the support!
You've asked some great questions and I reached out to SpringRole team on Telegram to get you a response:

"Each of the competitors attacks the problems in a very narrow slice without tackling the problem as a whole. To build the professional network of the future, every facet of the ecosystem needs to be taken care of. The other platforms focus highly on jobs and hiring whereas SpringRole focuses on the users and having a genuine and verified professional profile which allows them to showcase their skills and build connections in a trust based manner. Anti-fraud measures will be built in, and more interesting functions will be added over time."

Thank you for this response Hatu, it definitely a plus that they gave you such a detailed answer on Telegram. Community management and support are very important factors in a sucessful ICO.

Definitely! I feel if a team is providing swift, detailed responses to their community, they have earned at least some degree of credibility.

In the past, I've written about the principal-agent problem the crpyto sphere is facing. Investors need to start taking into account, with a great deal of weight, the level of responsiveness a team dedicates to them.

Excellent, very successful and thank you for sharing.

Thank you so much!
Glad you liked it :)

Good post 👍

Glad you liked it!

excellent post friend, successes and blessings

Thank you so much!
Lots of effort went into it and I'm glad the audience is enjoying it :)

Let me join the ICO
Ilove cryptocurrency forever

Here on Steemit, we're all crypto fans :)
To join the ICO, head over to the company website: https://springrole.com/
You can also track updates on their Telegram: https://t.me/springrole

I am particularly interested in this project because it already has a working prototype for people to assess. I will really like to know how every information can be verified to be true, unlike linkedin where anyone can whip up a profile.

Ok, so the verification process has two aspects.

The verification of academic achievements is done directly by the universities and employers; they are incentivized to do so as this allows them to both protect their reputation as-well-as earn SPRING. Have a look at my previous post, for additional details. :)

The legitimacy of endorsements is guaranteed by the fact that endorsements aren't free. So, people won't just hand these out as there is a cost attached to them. The endorsements return a value only if the person you endorsed gets hired or paid; you receive a portion of the finder's fee, which is shared by all those who endorse the person. So, people will have to carefully take into account whether tor not heir endorsement will yield an ROI.

Also, spam endorsements won't be possible. Others have the right to reject your endorsements. Racking up rejections will be costly as they increase your cost of making future endorsements.

Thank you for this clarification. I think i now have way more confidence in this project than i did before.

You're very welcome!
You can have a look at my profile for additional information on it as I've written a number of pieces on SpringRole.