The world of recruitment is full of manual and repetitive tasks aimed at connecting clients and freelancers. Every time I hear that story, I’m thinking “blockchain will fix this”. While most industries are being disrupted by decentralized ledgers, I’ve always wondered why recruiting was not. Problem solved: the recruitment token Braintrust is born.
1. What is Braintrust (BTRST) ?
Braintrust is a blockchain technology matching clients and freelancers for a fraction of the cost of regular agencies.
The technology behind this “post-review-hire” automated workflow is the Braintrust blockchain. It basically gets rid of the middle man and cuts the cost with a decentralized ledger. Like every protocol out there, it has its native token (BTRST) that you can trade.
Now let’s check the Braintrust partnerships.
The partnerships list is quite shocking (a bit like the one of Fetch AI), and I’m very bullish because of this part:
All these companies are using Braintrust to hire freelancers.
Yes. And the platform launched only a couple of months ago only.
What do you think? Like me, right.
3. On-chain and tockenomics
The addresses opened have been on the rise consistently in the last 3 months which is a stat I like. However given the age of the project, it makes sense:
It’s also worth mentioning that the token is still quite concentrated with the top 100 addresses holding 82% of the current supply:
Check all this data on the CoinMarketCap page of the token here.
From an on-chain perspective, the token would gain to see a better decentralization in the next couple of months and years.
The tockenomicks of BTRST during vesting are alright, with 54% allocated to the community:
4. Analyze by market cap
As explained in this report, the market cap for freelancing platform will reach 9 billion USD by 2026:
It’s now valued around 4 billion USD. Meanwhile, the current market capitalization of Braintrust is 251 million USD. It leaves some room for growth if you believe (like me) that decentralization will eat the industry.
5. Conclusion and price prediction
I own Braintrust as a “recruitment token” and I am bullish on it. The coin is getting widely adopted by big corporations and the number of addresses is growing consistently. The risk I see for an investor is the level of centralization as most of the supply is held by the top 100 wallets. There is also a need for wider adoption by more companies.
My price prediction is that the blockchain will take about 15% of the market capitalization of the current freelancers platform market (around 4 billions USD) by 2023 leading to my price prediction of $7 for early next year.
Do your own research, and let me know your opinion.
Until then…Take care.
Disclaimer: this is not financial advice