Decentralised Opportunity Sharing Platform
White Paper (draft)
everyone is a headhunter
Copyright © 2019 Canlead Ltd. All rights reserved.
Decentralised Opportunity Sharing Platform
White Paper (draft)
everyone is a headhunter
Copyright © 2019 Canlead Ltd. All rights reserved.
TABLE OF CONTENTS
Abstract
Introduction
Current Landscape
Recruitment Challenges
Market Research
Market Opportunity
Competitive Analysis
Canlead Solutions
Opportunity Sharing Model
Technology and Operations
General Use Case
FEEFER Artificial Intelligence
Business Model and Tokenomics
Roadmap
Team and Advisors
Conclusion
References
Disclaimer
3
4
5
6
7
8
9
10
10
11
13
14
15
17
18
19
20
21
White Paper Draft Version | Page 2
Canlead presents a revolutionary decentralised opportunity sharing ecosystem in which the community of participants interact as sources of opportunities - becoming a collaborative system of agents working together within a network of interconnected peers. The ecosystem rewards the job recruitment agent, real estate agent, travel agent and referral bot to connect unprecedented opportunities with exceptional prospects, and compensates successful outcomes via a carefully-balanced system of incentives based on tokenised game theory.
Canlead will catalyse that energy of the 4th industrial revolution, the force that drives the resource efficiency of the sharing economy - powering the present gig economy towards a better, smarter, and fairer future.
We are investing in the development of the decentralised opportunity sharing platform and protocol for the recruitment industry as our first business case. We aim to disrupt this $642 billion recruitment industry, by effectively enabling everyone to be a headhunter - earn commissions and kudos for helping friends, colleagues and strangers connect for mutual success. The ecosystem unlocks the value of the personal network, bringing tangible liquidity to the old expression… “It’s not what you know, but who you know, which really counts”.
This paper presents the market overview and need assessment, and the proposed solutions for the recruitment and sales referral industries - while scoping the tokenomics and broad applicability of the solution, and the capacities of the team which will deliver it to market and disrupt a diverse range of verticals over the 3 year roadmap to 200k users.
ABSTRACT
White Paper Draft Version | Page 3
INTRODUCTION
About Us //
Canlead Ltd (reg no. 10524761) headquartered in London, UK that operates an online recruitment and property advertising marketplace which is accessible via its websites and mobile apps. Members can use the service to post business opportunities such as a job or service and make referrals to earn extra income. Canlead aims to be a decentralised opportunity sharing platform that creates trust between parties in the global economy.
Canlead brings together and improves upon the concepts of social networking, sharing economies and the token ecosystem, and allows developers to create consensus-based applications based on standardisation, scalability and interoperability. Canlead does this by building a multi-party tokenised incentive system where all participants are motivated to participate.
Selling products and hiring people presently relies on trusted intermediaries, in both B2B and B2C environments. While this works well enough to date, the trust-based model has many intrinsic weaknesses.
The cost of selling and hiring increases transaction costs depending on the value of the opportunity, limiting the maximum practical transaction size. Typically, payment providers such as PayPal, Worldpay or Stripe charge a 3% transaction fee, which can be avoided by using an offline method or making payments over a cost-effective platform without a trusted party.
What is needed is an opportunity and referral platform with a payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly and cost-effectively with each other without the need for a third party. Transactions that are immutable would protect sellers or hirers from fraud, and routine escrow mechanisms protect referrers or buyers.
In this white paper, we present a decentralised platform that will have built-in incentives for everyone: customer (employer or host), agent (recruiter, referrer or headhunter) and candidate (friend or seeker). A platform that is open and free to evolve, is highly scalable and has no single point of failure.
Canlead will target the recruitment market first, and focus on the job boards, recruitment agencies and freelancers.
White Paper Draft Version | Page 4
CURRENT LANDSCAPE
Sharing is hip, disruptive and a potentially lucrative investment theme
The ‘Sharing Economy’ is not a vision of the future, it’s been here a while. Online platforms have already hugely disrupted verticals including on-demand (Uber), rental (Airbnb), gig (TaskRabbit), access (Spotify), collaboration (WeWork), platforms (Amazon), circular (ThredUP) and peer-to-peer (Lufax). As BofAML points out, these tech-focused models are unlocking the value of unused and under-used assets, promoting a culture of access over ownership. [1]
The Future of Jobs - Employment, Skills and Workforce Strategy for the Fourth Industrial Revolution
Many of the major drivers of transformation currently affecting global industries will have a significant impact on jobs, causing significant job creation alongside job displacement, and heightening labour productivity in the face of widening skills gaps. In many industries and countries, the most in-demand occupations or specialities did not exist 10 years ago, and the pace of change is set to accelerate. [2]
UK recruitment industry: a decade of growth 2008 – 2018
Since 2008, the number of recruitment agencies operating in the UK has grown on average 27% per year. [3]
Global Recruitment Market Size, Share, Demand, Opportunity, Outlook, Trend, Overview, Future by 2018-2023
According to KD market insights, the Recruitment Market is expected to attain USD 1,147.8 Billion by the end of 2023. According to the current scenario the market is held to be USD 642.8 Billion by 2017 which clearly depicts the growth of the market in the upcoming years. [4]
The past 15 years have seen the proliferation of social networking technologies and platforms that have transformed the way individuals connect and interact with friends, family and professional contacts online.
These platforms have significantly impacted the way we create and refer opportunities, along with how we establish and maintain public or private networks of connections. Simultaneously, many businesses are looking to capitalise on the international expansion opportunities presented by today’s increasingly globalised business environment.
White Paper Draft Version | Page 5
The world of recruitment and marketing has undergone a major transformation in the last decade. Changing employment trends, social media and technological advancements, evolving employee demographics, have all contributed to industry disruption - creating new opportunities for proactive industry leaders with an eye to the future.
RECRUITMENT CHALLENGES
20 %
EMPLOYER
COST OF HIRING
PER IT HEADCOUNT
4 K USD
4 MONTHS
AGENCY FEE
ADMINISTRATION
HIRING TIME
2.5
AGENCY
COST OF PLACEMENT
PER IT HEADCOUNT
5 K USD
2 WEEKS
DEALS CLOSED PER AGENT PER MONTH
SALARY AND BONUS PER MONTH
PLACEMENT TIME
10 X
CANDIDATE
COST OF FINDING
NEW EMPLOYMENT
3 X
3 MONTHS
APPLICATIONS
INTERVIEWS
TIME TO EMPLOY
White Paper Draft Version | Page 6
A lot has happened in the job recruitment, property advertising and professional service industry since the launch of Linkedin, Indeed and Rightmove. Many common problems from these industries remain unsolved and new innovations have been slowed.
Lack of certainty if the opportunity, candidate, agent and customer is reliable
Lack of incentives to share quality opportunities and build long term relationships
No de-facto rating portal for candidate, agent and customer
No universal portal for users to earn from sharing opportunities
MARKET RESEARCH
Sharing is not a new concept. Giving someone a ride in your car, cooking for guests and referring friends to an opportunity are all common actions. The sharing economy, on the other hand, is a newer form of sharing where a service is provided for a monetary return. Examples of industries already impacted include accommodation (Airbnb), transport (Uber, Citymapper), services (TaskRabbit, Freelancer), finance (Xero, Wefunder), goods (eBay), digital content (Spotify), and many more.
White Paper Draft Version | Page 7
The current market is $642.8 Billion
$1.1T
GLOBAL RECRUITMENT
MARKET BY 2023
$335 biLlion BY 2025
SHARING ECONOMY MARKET SIZE
Most new entrants coming into the sharing economy market are still related to travel, accommodation and collaboration.
As a result, a great opportunity has arose for a platform aims at the Service sector focusing initially on the HR/ Recruitment market, which is where Canlead intends to disrupt.
The market grew 11% from 2017
$50B
UK RECRUITMENT
MARKET IN 2018
1.1M
people were placed into permanent jobs in 2017/18 by recruiters & 1.0M agency workers on any given day.
Recruitment businesses are clearly striving to innovate, which partly due to greater competition and risk of disruption from smaller tech-led rivals. Of the respondents we surveyed:
White Paper Draft Version | Page 8
Recruitment Market Opportunity //
75%
OF THE MEDIUM TO LARGE ENTERPRISES
AND AGENCIES OFFER A REFERRAL SCHEME
Did you know?
90%
of the referred candidates get an interview
Did you know?
50%
of the referred candidates get hired
see technology as a core
part of their business
80%
invested in technology substantially in the last 18 months
70%
see technology as an important opportunity to do more
85%
25%
OF THE REFERRAL SCHEMES ARE EFFECTIVE
Most recruitment businesses are based on recurring income, this means referrals can be as high as 80%, indicating a strong need for an Opportunity Sharing and Referral solution.
CANLEAD SOLUTONS
Consulting, advisory, recruiting and marketing agencies are intermediary, brokerage entities. They have the know-how other businesses rely on to complete their business transactions, whether that business seeks to hire talent or procure software solutions. Today most business entities are acting as an intermediary entity from an ecosystem perspective. Canlead has developed an Opportunity Sharing Economy model to disrupt and transform the traditional intermediary business.
The Opportunity Sharing Economy model addresses the challenges mentioned in the previous section and offers the following advantages over other Sharing Economy models such as Accommodation and Ride Sharing.
White Paper Draft Version | Page 10
Opportunity Sharing Model //
Three user profiles or actors: customer, referrer and candidate support the Opportunity Sharing Economy model
A three-way rating system: customer, referrer and candidate - improves trust for greater success
A three-sided market: customer, referrer and candidate lead to more users which leads to more revenue, and thus to continued growth
User Roles
These are the required use roles for a self-governed ecosystem.
Canlead three-sided market means the supply and demand for opportunities and talents are perfectly in balance.
Customer is someone who can CREATE the opportunity, SET and PAY the referral fee.
Referrer is someone who can REFER the opportunity and RECEIVE a referral fee from the Customer.
Candidate is someone who can CONSUME the opportunity i.e. get hired via the referral process.
Verifier is someone who can VERIFY the authenticity of the opportunity.
Mediator is someone who can MEDIATE conflicts between parties.
Background
Canlead is a ‘startup’, our business case was proven in the real-world of recruitment, sales, business development, and we presently launching an online service where the customers, referrers and candidates can choose to create a Canlead user account so they may list their unique opportunities or refer their friends - making the job, product, service opportunity sharing and referral easy, enjoyable and safe.
Therefore, a detailed technical description is not presented in this document to reduce unnecessary duplications with other technical documents.
White Paper Draft Version | Page 11
Minimum Viable Product (Off-chain)
The MVP is a web application (web-app) using a modern open source technology stack and Amazon AWS that allow for performance, availability, scalability, reliability and high security.
Technology and Operations //
Architecture Overview
Canlead has two domains, the real-world or off-chain domain and the blockchain or on-chain domain. The on-chain domain is known as the 'Canlead Protocol' that allows authorised 3rd party platforms to request services provided by the Canlead Smart Contract, thereby creating the Canlead ecosystem. The off-chain domain is known as the Canlead Platform or App, to focus on the recruitment and property market.
At the centre of the Canlead ecosystem is a set of advanced smart contracts hosted on the Ethereum blockchain - it's open source. The approach to Tokenise Opportunities is based on the Canlead Fee Staking System Smart Contract (FairOp). It's similar to the blockchain voting concept, where users spend the 'Opportunity Stake Token'
to advertise their job opportunity and the 'Referral Stake Token' to obtain the job opportunity they want to refer talented candidates. The design has three components:
FairOp (Fair Opportunity)
When the Customer lists the job opportunity with the success fee and the opportunity staking fee onto the opportunity board, the Sharing Service passes the staking fee in Canlead Token to the FairOp Smart Contract to open a contract. The staking fee confirms the commitment of the opportunity provided by the Customer and provides liquidity to the Canlead ecosystem. There is also a cancellation fee to deter bad actors. FairOp Smart Contract can be called by third-party smart contracts using the Canlead API.
White Paper Draft Version | Page 12
FairOpMgr (FairOp Manager)
The Smart Contract Manager receives the user wallet addresses from the User Wallet Registry and passes them to the Smart Contract if they are verified successfully. Any unregistered or unrecognised wallet addresses that are trying to access the Smart Contract will be rejected.
FairOpReg (FairOp Registry)
The User Wallet Registry stores the user wallet addresses and passes them to the FairOpMgr for verification.
Canlead Platform
The Canlead Platform comprises of a suite of core features underpinned by the Canlead Smart Contract; the sharing service, staking service, bidding engine, rating service, payment service and the conversion module that support fiat-to-crypto and crypto-to-fiat.
Canlead API and 3rd Party Platforms
Canlead provides an API whereby any authorised 3rd party entities can integrate their DApp with the Canlead Smart Contract to offer new services to their users, thereby expanding the Canlead ecosystem.
Support
The technology will be developed and supported by the Canlead project team and community. Canlead is intended to be an open protocol and will offer the development community rewards for their contributions, and integrate their own apps via the Canlead API, for which they will earn CAND tokens on an uptake basis. Canlead has selected the Ethereum blockchain as a foundation to build the Canlead DApp.
A recruiter from agency “ABC” registers with Canlead, as a customer, and posts a job opportunity (along with an appropriate success or referral fee). They invite their own network of contacts to join Canlead as trusted connections or referrers.
The customer receives referrals from their network, but at any point, a candidate can become a referrer and invite their own contacts to join and connect, so they can refer them to the customer and other opportunities on the site - continually growing the value of the total network according to Metcalfe’s Law's network effects.
All parties are peers on the network, and the state of referrals and relationships is visible on the blockchain at all times, to ensure fair payment of rewards on successful hiring.
General Use Case //
BOARD
Post jobs
Build networks of
trusted referrers
Search jobs
Find talents
CUSTOMER
Invite contacts to
become candidates
CONTACTS
CANDIDATES
Pay the success or referral fee to the referrer after successful hiring
Refer talents to the customer
VERIFIER
Mediate conflicts between parties
MEDIATOR
Verify the authenticity of the opportunity and referral
REFERRER
Build networks of
trusted candidates
White Paper Draft Version | Page 13
White Paper Draft Version | Page 14
Canlead FEEFER Artificial Intelligence //
A major challenge to solve is to provide personalised, engaging and timely referrals or recommendations from a pool of millions of items to millions of active users. Canlead Feefer Artificial Intelligence (AI) will address this challenge. The key referral problem is: given a query set Q comprising a set of opportunities and corresponding weights, return a set of options that the referrers may be interested in. The query set Q is referrer-specific and is generated dynamically after every action the referrer performed. As an example, most recently interacted opportunities have high weightings while opportunities from a long time ago have low weightings.
The sophisticated and intuitive recommender algorithm will:
At the same time the demand for the CAND tokens will increase significantly as more employers and candidates will use the service.
In a market where every employer is looking for talents and every candidate is looking for job opportunities, the Canlead Token will incentivise a network of head-hunters to connect unique opportunities with outstanding talents and reward successful referrals - this cycle will never end!
Revenue Distribution Model
The project is proposing the following revenue distribution model:
BUSINESS MODEL AND TOKENOMICS
Business Model
While the Canlead on-chain protocol will be open source and free to use, Canlead has designed a transactional and usage-based paid service to cover a number of customer types, business to business (B2B), business to consumer (B2C), consumer to consumer (C2C) and the marketplace.
The Canlead platform takes 10% service fees from on each successful transaction to operate the business.
Business Benefits
A no win, no fee and no upfront cost decentralised job and property opportunity sharing service.
Companies and developers can build their own Apps or Portals for specific sectors such as travel, healthcare, use the Canlead protocol and API for free.
As with any platform, the network effect is enhanced by the growing number of participants, and the utility of the Canlead Token (CAND) increases along with its market reach.
Tokenomics
A number of the key tokenomics approaches and strategies are being introduced to the Canlead project to incentivise the community, to contribute to the project and to develop the technology.
Deflationary Model
This is an innovative approach to improve the quality of the CAND tokens, and therefore the project.
The Utility Token Value Curve graph shows the token supply decreases over a time period and will affect the CAND token value in an upwards trajectory.
White Paper Draft Version | Page 15
Token Supply
Token Value
About 50% of the revenue will be spent on 'development and operations' including C-Level salary and allowances.
The Smart Contract will allocate 20% of the revenue to the company Defence Pool which will be managed by the executive management team. The Defence Pool is a reserve fund consisting of major cryptocurrencies such as BTC, ETH, XRP, LTC, etc to defend the CAND tokens during periods of market volatility.
The Defence Pool also has an important function later when the 30% Price Support Wall is no longer in effect. For example, when the market dumps the CAND tokens the Defence Pool could be used as a countermeasure that support the CAND tokens - the buyback option could be exercised. This will further deflate the circulating token supply, stabilise the CAND token price and increase the CAND holdings by the project team, thus improving the project financial position.
The remaining 30% of the revenue will go to the furnace for token burning as part of the Canlead deflationary model and approach.
Price Support Wall
A 30% Price Support Wall is proposed to give rock-solid confidence to the project contributors that their stake will not drop drastically.
Token Sales
The crowd-sale period will begin on 1st October 2019 and will continue until Canlead reaches the $20 million hardcap in fiat currency. We have created 1.0 billion CAND tokens to ensure there is enough supply to incentivise our contributors and participants.
White Paper Draft Version | Page 16
There is a lock-up period so the founders and stakeholders cannot sell their tokens as soon as Canlead is listed - ensuring commitment to execution and delivering value to the users and community, as well as protecting the investors. The strategy is to release the tokens every quarter (three months) upto one year.
White Paper Draft Version | Page 19
CONCLUSION
Our aspiration for Canlead is to create a large global decentralised network with millions of Customers sharing opportunities with millions of Referrers, who refer them to millions of Candidates.
These aspirations are being realised through our concept design, product development, and working with various businesses and individuals across multiple industries. We are committed to our roadmap of thorough testing, partnership, and growth - and invite investors to be part of this transformative disruption of the recruitment, property and technology industry.
Canlead is continuing its mobile application platform development, acquiring new users and working on the ICO/ IEO crowdsale project.
ROADMAP
White Paper Draft Version | Page 17
Canlead ICO business case approved
MVP, product market fit test
Business development, partnership agreed
ICO preparation, planning, team creation
Website, white paper, airdrop & bounty starts
IEO token sale, airdrop & bounty, community management
GOAL: onboard 50k users & 20 partners/ customers
Launch on MainNet, sale & marketing capability ready
IEO token sale, development & operations capability ready, launch on TestNet
GOAL: onboard 200k users and 50 partners/ customers
REFERENCES
White Paper Draft Version | Page 20
[2] http://www3.weforum.org/docs/WEF_Future_of_Jobs.pdf
[3] https://www.sonovate.com/blog/uk-recruitment-growth-2008-2018/
[6] https://www.cv-library.co.uk/recruitment-insight/job-market-report-q2-2018/
[7] https://www.bbc.co.uk/news/uk-england-46288515
[8] https://www.weforum.org/agenda/2019/01/sharing-economy/
[9] https://gigeconomy.ey.com/Documents/Gig%20Economy%20Report.pdf
[11] https://www.td.org/insights/2025-how-will-we-work-how-will-your-job-change
TEAM AND ADVISORS
White Paper Draft Version | Page 18
Michael Quan
Founder & CEO
20+ years in technology. Two electronics product launched in the 1990s and a software product launched in 2009.
Siri Narasimham
Business Director
20+ years in HR and recruitment business. Cofounded eSynergy, a $35m revenue business focusing on DevOps recruitment.
Nito Martinez
CTO
20+ years in software engineering and technology. 50+ developers under management. A managing partner at Qindel consulting.
Guilherme Muck
Community Manager
Experienced ICO/ IEO community manager who has successfully managed numerous ICO/ IEO projects and raised funds.
Qindel Group
Tech Team
Founded in 1999, software and technology consultancy, 90+ staff with Blockchain expertise.
Asher Looi
Advisor Board, Project Advisor
15+ years entrepreneurial experience in startups. Successfully advised many projects based in Asia. A senior team member of BridgeX Network.
Irina Spekman
Advisory Board, Business & Funding Strategy
Irina has a successful international track record as an entrepreneur, business strategy and growth advisor in multi-industry sectors.
Michael Creadon
Advisor Board, Marketing & Fundraising Advisor
Michael is the CEO of 4Rev, a global crypto research blog. He has a wealth of knowledge in capital markets, served for two decades as CEO of Traditum, a proprietary trading firm based in Chicago.
Peter Gold
Advisor Board, HR-Tech Industry Advisor
Over 20 years experience in Talent Acquisition; technology thought leadership, writer, blogger and speaker. Working with organisations to help them utilise great technology to attract, hire and retain the best people.
Canlead has identified a number of competitors who will have a referral application. Canlead differentiates from its competitors by providing a simple-to-use opportunity and referral platform as detailed herein.
Competitor Analysis //
White Paper Draft Version | Page 9
Concept, features, market and user
Recruitment Industry
Refer and Earn
3-sided Market Model
Enterprise
B2B & B2C
Consumer
C2C
Fiat and Crypto
Support
Canlead
Aworker
WOM
Plentix
Job Opportunity Sharing Market
Artificial Intelligence
No
Yes
Partial
DISCLAIMER
White Paper Draft Version | Page 21
Canlead Limited. has prepared a DRAFT white paper and other materials concerning the sale of tokens and the project.
The White Paper, as it may be amended from time to time, is hereby incorporated by reference. Canlead Limited (Company) will distribute the Canlead Coin tokens (Tokens) to buyers (Buyer) pursuant to the Canlead Distribution Contract (the Contract). The company makes no representations or warranties, express or implied, including any warranties of title or implied warranties of merchantability or fitness for a particular purpose with respect to the Contract or Tokens or their utility or the ability of anyone to purchase or use Tokens. Without limiting the foregoing, none of the Company parties represents or warrants that the process of purchasing and/ or receiving Tokens will be uninterrupted or error-free or that Tokens are reliable and error-free. As a result, Buyer acknowledges and understands that Buyer may never receive Tokens and may lose the entire amount Buyer paid to Company. Buyer shall provide an accurate digital wallet address to Company for receipt of any Tokens distributed to Buyer pursuant to the Contract.
The sale of Tokens and Tokens themselves are not securities, commodities, swaps on either securities or commodities or a financial instrument of any kind. We will be receiving a memo from our legal representative stating that our token is a utility token. Accordingly, this document does not constitute the investment counsel, advice, or solicitation for investment in any security. Purchases and sales of Tokens are not subject to the protections of any laws governing those types of financial instruments. This Agreement and all other documents referred to in this Agreement, including the White Paper, do not constitute a prospectus or offering document and are not an offer to sell nor the solicitation of an offer to buy an investment, security, commodity, or a swap on either security or commodity. The buyer should not participate in the Canlead Coin Distribution or purchase Tokens for investment purposes. Tokens are not designed for investment purposes and should not be considered as a type of investment.
The company has prepared this white paper for the sole purpose of introducing the technical aspects of the Canlead network, its associated platform components, and its underlying blockchain protocol Ethereum. This document does not constitute an offer, solicitation, recommendation, or invitation for or in relation to the securities of any company described herein.
The White Paper is not an offering document or prospectus and is not intended to provide the basis of any investment decision or contract. The information presented herein is of a technical engineering nature only and has not been subject to an independent audit, verification, or analysis by any professional legal, accounting, engineering, or financial advisors. The White Paper does not purport to include information that Buyer might require to form any purchase decision nor does it comprehensively address risks of Tokens, which are numerous and significant.
Company (along with its directors, officers, and employees) does not assume any liability or responsibility whatsoever for the accuracy or completeness of the information contained in the White Paper or for correcting any errors herein. Furthermore, should Buyer choose to participate in the initial sale of Tokens, Company does not assume any liability or responsibility whatsoever for any loss of market value of Tokens.
The content of the White Paper may be technically challenging and require a high degree of familiarity with distributed ledger technology to comprehend Tokens and associated engineering risks. Readers of this document are encouraged to seek external advice and are solely responsible for making their own assessment of the matters herein, including assessing risks and consulting technical and professional advisors.