More facts needed for PATO (Profede) unfortunately

The latest blockchain related ICO to appear on the market is PATO or Prefede as its longer namesake. A quick glance at the product and most seems to attract the attention of a potential investor, however, go in just a little deeper and there are flaws and a few questions that unfortunately need answering.

Starting with the product we can see that it could be quite handy. Basically a company, instead of going through a recruitment agency would go through Profede and pay for the information about a potential employee with PATO’s, Profede earn this way, as does the potential employee whether they get the role or not. It’s a neat way of getting around the recruitment agency and paying a good percentage of their yearly salary.

Therein lies the issue though. Everything is done digitally and as everyone will tell you, you can be anyone you want to be behind the might of the qwerty keyboard. That’s not to say that everyone tells fibs but you will get plenty that will try and plenty that will triumph. Whilst they might have ratings from other employers (if they choose to do so) and friends (who will always leave a good reference right?) it is not the same as meeting the candidate in person. When recruiting you look for everything you can and you cannot find everything out about a person just by reading about them, you need to meet them, make eye contact, find out if they have too much sugar in their tea and plenty of other small things that could prove vital to the company.

Now the company could find this out by meeting them themselves but then the recruitment agencies do exactly that and of course are paid to weed out the wheat from the chaff by noticing things an app for laptop wouldn’t. We feel there might be too many variables, no matter how well the blockchain works in their favour. It could simply be a learning curve and the product will get better with time.

One issue we had obviously was that of the privacy issue. Privacy has been huge over the last few years and it was highlighted even more by that social media network nobody I know seems to use but is worth billions. Going through the whitepaper we noticed that not one person on their team specialised or had experience in Legal matters, something we thought would be a must in this line of work. We were passed on to their Legal and Ratings section but found little to be happy about, even their Legal Auditors, who listed some great experts, showed that none of them actually claimed to be an expert in privacy law. One comment from admin on Telegram did confirm that more would need to be looked into on this one when their reply to “who deals with privacy law there” was, “don’t worry, we have a team to deal with all that!”

One to watch and more to learn from those in the recruitment and privacy businesses before ploughing in the big numbers on this one but a great idea with just a little more attention required.