Japanese Multinational’s Blockchain App Taps India’s Tech Talent Pool Neglected By Trump’s Visa Ban
NEC Corporation, the Japanese multinational firm is taking advantage of the hole created by President Donald Trump's US H-1B visa ban, which has left thousands of technology talents in limbo as they are unable to secure work within the United States with their specialized skills.
NEC Corporation, a Japanese multinational information technology and electronics company, has partnered with Persol Career, a job-hunting firm, to pilot its blockchain app to help corporate Japan recruit Indian tech engineers. Nearly 2000 Indians are expected to be hired via the app in the next three years, according to Nikkei Asian Review.
Addressing the recruitment headache
Japanese firms have been finding it cumbersome getting skilled tech personnel. The blockchain-powered app will fill this void from a vast array of Indian engineers.
As per the announcement:
“The app will aid Japanese companies as they struggle to find skilled tech workers. With President Donald Trump's administration suspending the issuance of U.S. H-1B work visas, Japan's business community has more opportunities to tap the large pool of Indian engineers.”
The app’s pilot version is to go live later this month, while its full launch is scheduled for March 2021. Prospective candidates will take a skills test undertaken by Indian-based startup HackerEarth, and results stored in the blockchain app and other information like educational backgrounds.
Deterring academic falsification
By leveraging the blockchain app, Japanese companies will be provided with authentic academic credentials from prospective hires. Internet services provider GMO Internet is among six companies expected to trial the app for three months.
Japan is expected to grapple with a hiring gap of approximately 800,000 IT engineers by 2030. This shows a tight supply in the nation’s labor market.
According to the announcement:
“Persol said 7.05 job openings existed for every midcareer IT and communications professional seeking a job in June. This indicates a much tighter supply of workers than in the country's overall labor market, where there are 1.66 openings per applicant.”
The blockchain app seeks to offer light at the end of the tunnel by assisting in the recruitment of IT engineers. It is speculated to be rolled out in other target countries.
A global UAE Bank is also building a blockchain-enabled architecture for sovereign and federated digital identities to curb forgery and identity theft.
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