 From New York, it's theCUBE. Covering Blockchain Week. Now, here's John Furrier. Hello everyone, I'm John Furrier with theCUBE. We are here for exclusive coverage of Blockchain Week in New York, with theCUBE's continuing coverage of what's going on crypto, blockchain, and decentralized apple-class. We're here at the Block Crypto House, special event, we're here with Matt Roszak, who's the co-founder of Block, and we're here at Paul Stallion, who's the co-founder of Job.com. With some news, you guys got a pre-sale, do you want to get into the details? Thanks for joining. What do you guys do? First, take a minute to explain what Job.com is. Sure, so we're decentralized in the recruitment platform. So in our world, we have three parties. We have a job seeker, we have a recruiter, and we have an end hirer. What we're doing basically is we are removing the recruiter. We're putting the value back to the job seeker, who's the person who does the work. So the candidate, the job seeker, looks for a job. We peer to peer them with the direct client who's looking to hire. So we said charge these huge fees that recruiter companies can't charge, like 20, 25%, we charge the client 6%, and out of our 6%, we kick back 83% of that value to the job seeker. So there's a racket going on. Anyone who's raised the company knows that recruiting is one of the things they're going to write a big fat check. Well, it's a $638 billion industry globally. It's a nice racket, as I said. So you guys are disrupting and using blockchains. You're taking the middleman out of it and really making the community collective intelligence of the seeker and job hirers together. That's the secret sauce. That's the secret sauce. We have a very clever matching technology which means that the shortlist is provided by technology. We have some nice user flows that help the user actually be nurtured through the process and the job seeker gets a reward for the effort. Matt, you're an advisor to this company. What did you like about this company? What got your interest? Was it the nature of the team, the disruption? What was the catalyst for the advisory? Yeah, honored to be an advisor to job.com and it always starts with the team, right? Yeah, we talk about these new tech railroads, these new networks, but it always comes down to the core team and I think what Paul and his team are putting together is fantastic and you see all these use cases for financial services or real estate, but jobs and recruiting, human capital management is a massive industry that has a lot of middleman friction, a lot of middleman cost and blockchain and finding that connective tissue between the job seeker and the jobs is like a marriage made in heaven in this case. So I think they've got the right compass, got great funding and a great future. It's certainly a great testament having you as an advisor. You had a great compass too. You got in crypto early. You can just smell it and all these disruption opportunities, right? Is this one of those cases? Yeah, I mean, it's like, there's not a lot of competition in the space. This doesn't mean there won't be more, but I think what's interesting in blockchain is building these networks early gives you an advantage and so I think a lot of the road that's going to be paved by job.com will help the job seekers and employers find utility in this new service. I like the word that you use networks. You didn't say audience. It's a different world now. It's not audience and people, uniques, it's networks. That's the key to success. And networks are powerful. When I think of blockchains, I don't think of blockchains. I think of networks. I think of digital cooperatives. When you contribute something, in this case, job seekers will contribute. They're CVs, if you will, and hopefully find utility on this platform to find jobs. And as hiring people in the tech field, it's a very expensive endeavor. Hiring people in the blockchain field is almost impossible. It's a very high bar and very expensive. And so if you find a platform that could provide this service utility, I think it's going to be fantastic. And the efficiency is not there either. I mean, you thought about the cost, but there's also an efficiency angle on all those. The flywheel here is the network effect, the referrals. So there's no middleman there, it's no distortion. Yeah, and I think from this network, you could build other concentric circles of services on top of this. If you get this part right, you could pave into other areas of human capital management. So I think the future's very bright. Paul, talk about the round that you just did. So you got news that's either private pre-sale, was that accredited only? Just talk about some of the details. People really are interested. This is funding landscape, but it's super robust. And they want to hear the best practice. How'd you do it? What was the format? Share. Sure, so we're a company based out in Singapore, although we have an entity across the UK and the US. We've taken a strategic review on who we've partnered. We've partnered with a company called Chainrock that have helped us bring the capital for our pre-private sale. Private sale is now open. We are all about working with the right partners. We want to be able to expand the business globally, very quickly, about execution, about making sure that we get a land grab and take it to the masses. Did you use your job.com platform to get the matching investors? Yeah, we did, yeah. Did they take a feat? Yeah, they did. I'm sure they did. We gave them the feedback. Give the feedback. All right, talk about the pre-sale dynamic because some people are talking about pre-prize. I mean, there's all kinds of new nomenclatures. This is the first round of outside money. How big is the team? Take a minute and talk about the staff, what your plans are. Sure, okay. Currently, we have 38 staff. We have four offices, three in the US, one in Singapore. We'll launch the product across the US first of all because we already have 60 million resumes across the US. In the UK, we have seven million resumes and we will go in across Asia in the next 12 months. So you didn't wake up one day and say, hey, I'm just going to disrupt the job industry. You had some pre-existing experience. Sure. Was there an issue with scratching? Were you frustrated? Like, man, I could take this to the next level. How did you go from industry expertise to crossing over saying, damn, I'm going to use this disruptive technology and then drive this straight down to the world? So basically, we started off seven years ago and the business is seven years old. We built a matching technology. And the idea was basically to take search away from job seekers because when you search for a job, you're presenting with so much information back to you that you don't actually get what you're looking for. But by matching, you can upload a resume and our technology will read that resume, read a job and allocate the relevant person to the relevant job. Matt, I want to show you the network effect again because I think this is super important. He brought up the notion of referrals basically. The best hires come from the network. The flywheel of the network is the contributions that people have when you have efficiency in the referrals. This network effect is super important. You mentioned that earlier. The infrastructure of this new internet is not based upon the old DNS search. I mean, let me talk about search engines. It's so old, right? I mean, do people still use, but it's not effective. The infrastructure is changing. How are you looking at helping companies look at this new infrastructure saying, hey, you can't measure network effect? Yeah, I think you hit on a really important part, the referrals, right? These are like the influencers in the network that the more positive referrals they make, the more influential and the more economic activity they could achieve. And there's a reason why Microsoft bought LinkedIn, right? There's an incredible amount of data in there. But when Microsoft bought LinkedIn, I don't know if you got a paycheck for that. I didn't. But if something good happens. Internet developer programs, the worst. Yeah, it's not open source, so you can't innovate on it. But if you have a platform like job.com, then you can innovate on that. A, B, you share in the proceeds of that network building, and if you contribute, then you get back. So again, going back to the definition of this digital cooperative for job seekers and employers, it makes a ton of sense. How's the token economics work on this? Token workers, tokens go to the work of the referrals or the job seeker. How's the economics work? What's the transfer of the token piece here? I think you should cover that one. So we have basically, I mean, and the wonderful blue sky I think in clients will come to us and buy job tokens immediately from day one, but that's not gonna happen. We're gonna have, there's a learning curve here to make people start working with us. So we will be charging clients fear, convert them to job tokens and the job seeker will get a job token. But the job seeker actually earns job tokens on the entire journey. For us, it's about rewarding every step of the job seeking way. So engagement with the platform. So if you upload your resume, you'll get some job tokens. If you go for an interview, you're the person taking time off of work, using up your holiday, putting gas in your car to go to an interview. Referrals get tokens for that too, right? Referrals get tokens as well. Is there a reputation system in this? There will be, yeah, there will be. But the referral tokens work on the basis of, you can earn more as a reward if you refer more people to the platform. Well, congratulations and congratulations on the news. What's the next round? Sure, it's over subscribed. Share, I mean, you probably can't share, but share a little bit of color commentary. The private round is, and you're right, the private round, people are queuing up at the door, being quite frank. And we're just handpicking who we wanna work with by the assistance of Matt and the team. But yeah, it's exciting times. All right, good job. We're here at Block Party at the event at the Crypto House for Block Chain Week in New York. I'm John Furrier. Thanks for watching.