Decentralized Labor Record System Based on Wavelet Consensus Protocol

The labor market involves several untrusted actors with contradicting objectives. We propose a blockchain based system for labor market, which provides benefits to all participants in terms of confidence, transparency, trust and tracking. Our system would handle employment data through new Wavelet blockchain platform. It would change the job market enabling direct agreements between parties without other participants, and providing new mechanisms for negotiating the employment conditions. Furthermore, our system would reduce the need in existing paper workflow as well as in major internet recruiting companies. The key differences of our work from other blockchain based labor record systems are usage of Wavelet blockchain platform, which features metastability, directed acyclic graph system and Turing complete smart contracts platform and introduction of human interaction inside the smart contracts logic, instead of automatic execution of contracts. The results are promising while inconclusive and we would further explore potential of blockchain solutions for labor market problems.