This Talent Marketplace Is Using Crypto To Transform Work For Remote Engineers Globally

Outdefine is rewarding talent and transforming work using the ethos of 'one market, equal opportunity'

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Hiring technical talent has been one of the biggest challenges of the startup and corporate world in the past decade. With the world going remote, access to talent has expanded, but to Sanjay Verma and Romil Verma, the founders behind Outdefine, solutions to hire and manage talent at scale have looked fragmented.

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Romil, back in 2018, was struggling with the cumbersome and frustrating mechanics of hiring engineering talent the traditional way. He leveraged both the new-age startups and traditional agencies to fill his talent needs. Digging deep, he noticed the misalignment of incentives between talent and talent providers, where intermediaries were taking a big cut from the engineers' pay in order to help them find jobs. Being a software engineer himself for five years at Google and CTO at venture backed startups, he believed the market should be talent driven and engineers needed their fair share of representation.

Sanjay on the other hand, came with over 25 years of experience in the talent and HR technology domain. As a C-level leader at large corporations, he had worked strategically to scale and engage engineers globally. He envisioned that with growing aspirations, the future of the workforce would be talent seeking flexibility and having access to opportunities regardless of where they are in the world. With the world going remote due to the COVID-19 pandemic, Sanjay saw accelerated change in the way the talent landscape was transforming.

Together they wanted to build a more holistic future for tens of thousands of engineers. This led to the start of Outdefine, a web3 HR technology marketplace for engineers.

What is Outdefine?

Outdefine is a San Francisco based vetted talent marketplace for remote engineers that operates on a decentralized crypto token. It is a global network powered through blockchain for pre-vetted software engineers. The barrier to entry is high for the engineers, but the rewards and incentives of staying on the platform lifetime are higher.

Talent gets access to high paying jobs where they command the salary and benefits they deserve. And with the token, talent transacts in trust and transparency. The talent gets to earn tokens on the platform for doing tasks. These tasks include completing jobs, interviewing other engineers, and referring qualified talent to the platform. The token is used on the platform by talent to increase their profile visibility to desired employers and vote on the platform’s roadmap. This allows talent to shape how the platform will evolve and be invested in its success. It's a model of a decentralized organization where the company and users have aligned incentives at scale.

The platform will be of immense help to engineers as they can now bid for global opportunities. Also, with benefits support and the ability to earn tokens, talented folks get to decide their preferred compensation without an intermediary dictating terms. This is in contrast to the old system, where companies and talent are in the dark about the arrangements among service providers and agencies.

Sanjay Verma further elaborates that, “The tokens offer yet another breakthrough revolution. These incentivize talent to engage at all stages and creates a balance between labor supply and demand. It is a holistic solution for the talented and the underrated.”

Creating a difference

Outdefine is a one-of-its-kind channel that has entered the global job market. It is building an end-to-end platform that helps customers hire vetted remote engineers, provide benefits and stay globally compliant. Talent, on the other hand, gets access to global jobs, determines their own compensation and earns token incentives on the platform. At Outdefine, the ethos is one market, equal opportunity.’

On the business side, clients pay a fixed percentage for the value provided. Once the customer selects a talent for the job, payroll, benefits are managed directly on the platform. The token on the other hand attracts more engineers to join the talent pool. This flywheel attracts and retains more talent in the ecosystem.

The prospects and possibilities

 

“Web3 is the next generation of the internet. The unique property is that incentives of the platform and all of its users are aligned. On the blockchain, there is no room for unpleasant surprises, such as hidden fees. Outdefine enables talent to have the opportunity to receive benefits and capitalize on their full potential regardless of where they are in the world,” states Romil Verma.

Currently, the IT services market stands at over USD1.2 trillion. Here, the playfield is enormous for companies like Outdefine that want talent to collaborate and bring forward a new future of work. What’s more, the transformation has already begun and a manifestation of this is the great resignation. The voice of talent needs to be heard and they ought to get the best of their worth.

Crypto is also becoming a well-recognized means of creation for young minds globally. However, less than 10% of the global population today has participated in crypto. Outdefine is bringing crypto to the talent ecosystem and is laying the groundwork for the industry evolution. The bold move here is to openly invite talent onto the network to help co-create a vision that unites all parties at scale. That is the future that Outdefine’s founding team believes in.

Note: Investment in cryptocurrency is subject to risk and readers should do their own due diligence. Entrepreneur Media or Outdefine does not endorse any such investment.