Blockchain technology can help to infuse the talent pool with reliable computer science professionals, while also helping to build a more robust talent pool.

Businesses are quickly discovering that adopting emerging technology at the speed of business takes more than just the usual resources. That emergence of disruptive technologies, such as big data analytics, artificial intelligence and virtual reality is priming the IT world for a massive boom. It is also driving the increasing demand for talented and knowledgeable coders.

However, that demand is exposing flaws in talent pools, creating situations where the ill-equipped are attempting to take on projects, which will ultimately fail. Simply put, more and more businesses are turning to talent pools consisting of contractual programmers, data scientists and other IT professionals, and it is becoming more difficult to find and retain qualified professionals who can get the job done.

Blockchain: re-inventing the talent pool

One of the biggest challenges with using talent pools comes in the form of setting expectations and goals, two elements that are often open to interpretation and can ultimately derail a project if not addressed properly.

Instituting governance proves to be one of the best ways to deal with those issues. However, most of the governance solutions used today lack flexibility and are built on closed systems, making it difficult for contractors and clients to come together to develop a smooth flowing process that results in success.

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Perhaps the answer to that dilemma lies with an open source ideology, one where a level playing field is established, flexibility instituted and fully auditable tasks are recorded. In other words, a decentralization platform built upon blockchain technology, where data is stored across multiple networks and every entry is both transparent and immutable.

Blockchain has the potential to change the project orchestration process. Take, for example, a situation where a rapidly approaching project due date is threatened by a coding or development problem.

Most managers will attempt to locate alternatives or specific expertise to get things back on track, forcing them to turn to external solutions. Locating those resources and expediting the process often creates additional challenges, situations where talent pools become a viable path. However, picking the right talent entails vetting the talent, managing the talent and making the appropriate arrangements.

Dealing with that talent can be tricky as well. There are many cases where contractors feel frustrated to continually be providing solutions that are company-changing, and only receive a pat on the back from management. Fantastic IT professionals often find themselves pigeon-holed into narrow scope positions, unable to really use their skills, and benefit from what they produce. The fundamental problem behind that situation comes in the form of support and orchestration.

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Using blockchain to land and manage tech talent

One startup, FundRequest, is aiming to bring a blockchain-based platform to fruition to solve the many problems of securing and managing talent. The FundRequest platform was created to ensure that IT professionals can receive compensation for work, while also allowing users and companies to provide additional incentives to keep IT professionals engaged in the development process, where they can continue to fix issues, deal with bugs,or design specific features.

FundRequest leverages the ideology of a decentralization platform, which allows participants to post projects and select which professionals are allowed to contribute. By decentralizing access to projects and professionals, FundRequest has epitomized the true nature of peer-to-peer (P2P) open source programming. Those capabilities bode well for businesses looking to leverage Open Source projects by allowing them to engage with the community and compensate those that offer value.

Solutions such as FundRequest returns control back to decision makers, where

IT professionals are in absolute control of their contributions and the tasks they choose to address. Contributors are able to select the jobs that best meet their needs, and at the same time, offer high level solutions to companies without requiring the company to hire a full-time employee.

For project managers, the platform provides a mechanism to reach out and find support for open source coding that is far better and more cost effective than current open source support, eliminating the need for purchasing an expensive support package, while still being able to make tailored requests so that tasks are fulfilled with precision.

Blockchain technology brings additional benefits to the process, where funds for project payments are escrowed using a smart contract, protecting parties until the job is complete.

The use cases for blockchain are ever-evolving, bringing opportunity and innovation to the market, where real-time performance and disruptive technologies have come to give businesses a competitive edge.