Oracle has joined Velocity Network Foundation as a founding member. Along with other Human Capital Management and Education industry powerhouses, Oracle will help define, deploy, and champion the Velocity Network: an open-source, blockchain-powered “Internet of Careers.”
- The Velocity Network Foundation, which has been recognized globally for its vision of a new Internet of Careers, helps individuals consolidate, securely store, manage and control access to a comprehensive record of their verified education, projects, skills, and work history.
- As a founding member, Oracle holds a seat on the Velocity Network Foundation’s board, actively contributing to the development and governance of the Velocity Network.
- Combined, the 16 founding members of the Velocity Network Foundation manage more than 800 million individual records in their systems, along with billions of associated credentials including employment and student information, capabilities, skills, certifications, licensure, and more.
Commenting on the the adoption of blockchain in HR, Gretchen Alarcon, group vice president for Oracle HCM said: “Velocity Network Foundation’s mission to leverage blockchain technology to create an Internet of Careers is exactly the type of initiative Oracle wants to help drive…We’re proud to play a key role in this innovative initiative and are committed to working with the other founding members to shape the future of blockchain in HR.”