Braintrust is a decentralized talent network that helps companies and talent find each other in a faster and more economical manner. The network is controlled and self-governed by network participants who earn Braintrust tokens (BTRST) by introducing and onboarding clients (demand) and talent (supply) to the network. Network participants (i.e., token holders) are members of the Braintrust DAO (decentralized autonomous organization) where they vote to make decisions on how the DAO operates. Earning tokens by participating in the network creates an incentive for users to contribute to the system, thereby making the network stronger (1).
Braintrust refers to this incentive alignment as the ownership economy, which generally speaking, is the essence of what web3 is. Braintrust is still a relatively new company but it has the potential to significantly reduce (or eliminate) the need for a person/company in the middle brokering the recruiting process, which can be opaque, costly, and lengthy. Using Braintrust’s platform, companies have been able to reduce search costs by 50–75 percent compared to using traditional talent networks and staffing firms. Braintrust launched in 2020 and over the course of one year the network grew to more than 50,000 participants, which now includes over 100 Fortune 1000 companies.
It’s easy to earn Braintrust tokens on the Braintrust platform. You can sign up to refer clients and earn 2% of future billings in BTRST for any clients you introduce. You can also sign up to refer talent and you’ll get 1% of their earnings for any job they land on Braintrust.
Braintrust is solving a real problem and I believe this company and others like it have the potential to disrupt the incumbents to become the new standard for how companies source and hire talent. I personally know several experienced recruiters and have seen (and experienced) how inefficient the current recruiting model is. It may take a few years for the masses to catch up, but it’s exciting to see how blockchain technology can be applied to services such as this to make a real difference for job seekers and companies seeking better solutions.
For the sake of brevity, I’ve greatly shortened the scope of how Braintrust operates. But if you’re interested in learning more about Braintrust, take a look at their white paper which provides more detailed information about how Braintrust generates revenue, the Braintrust DAO and tokenomics, and the extended list of benefits of using the platform. The whitepaper is an interesting read that also sheds light on the benefits of decentralized networks in general and it provides a useful and relevant use case of web3 as applied to the real world.
Cheers — KM
Photo by Milad Fakurian on Unsplash