Industry Powerhouses Join Forces to Build the First “Internet of Careers” Platform Using Blockchain

Joining forces with Velocity Career Labs, developer of innovative blockchain technology, 14 industry leaders from across the Human Capital Management and Education markets launched the Velocity Network Foundation. This vendor-neutral, nonprofit organization will define, deploy and champion the Velocity Network: a globally accessible, open-source, blockchain-powered “Internet of Careers.”

About the Initiative

The Velocity Network Foundation aims to solve critical challenges for the future of work while addressing the growing need for data privacy and security. Founding members include Aon’s Assessment Solutions, Cisive, Cornerstone, HireRight, Korn Ferry, National Student Clearinghouse, Randstad, SAP, SumTotal Systems, SHL, Ultimate Software, Unit4, Upwork, Velocity Career Labs, and ZipRecruiter.

The Fourth Industrial Revolution is driving disruption across global labor markets, including skills shortages, accelerated turnover, the shift toward contingent workforces, and a growing gig economy. By 2030, a shortage of 85.2 million skilled workers is projected to result in lost revenue opportunities of $8.452 trillion worldwide. Over 50 percent of millennial workers are already freelancing, with 57 million Americans freelancing in 2019 alone.

In this evolving landscape, career credentials become one of the most valuable assets for workers, enabling them to navigate the labor market. The Velocity Network empowers individuals to claim and manage their career credentials—including verified education, projects, work history, skills, and talent assessments—while allowing employers and educational institutions to rely on trusted, immutable data.

Key Features

• Enables individuals to own and share verified career credentials securely.
• Reduces time and costs associated with talent processes for employers.
• Supports compliance in the global labor market through reliable, tamper-proof data.
• Combines career-related data for over 700 million individuals across founding members.

Leadership Perspectives

Dror Gurevich, CEO of Velocity Career Labs, stated, “The democratic, nonprofit nature of the governance and the open-source framework will make it a true public utility layer. This is why we are calling it the ‘Internet of Careers.’”

Holger Mueller, Vice President and Principal Analyst at Constellation Research, noted, “The workforce use cases for what Velocity is doing abound, from talent acquisition and employment verification to competency certification and compensation management.”

Jason Averbook, co-founder and CEO of Leapgen, added, “The Velocity Network puts people back in control by building a globally accessible, trustworthy foundation that will underlie global labor markets.”

About Velocity Career Labs

Founded in 2018, Velocity Career Labs reinvents how career credentials are shared across the global labor market, empowering individuals, businesses, and educational institutions through self-sovereign, trusted, and decentralized blockchain technology.

About the Velocity Network Foundation

The Velocity Network Foundation is a nonprofit organization established to govern the Velocity Network, build its rulebook, promote global adoption, guide decentralized protocol development, and support open-source community efforts.