Japan – Recruit invests in blockchain firm Blockstack

Fibo Quantum

22 August 2019

Global staffing firm Recruit Co. Ltd. announced Thursday an investment in Blockstack, a New York-based company that provides a distributed computing platform using blockchain technology.

“Blockstack offers user-specific storage and multi-purpose authentication systems for users to securely manage highly confidential information such as their personal information, which allows them to have direct ownership and control over that data,” according to Recruit. It says the system is more secure than conventional password-based authentication.

Blockstack was founded in June 2013; its CEO is Muneeb Ali.

The investment was made by Recruit’s Singapore-based RSP Blockchain Tech Fund Pte. Ltd.

Tokyo-based Recruit ranks as one of the world’s largest staffing firms, but it’s not the only large staffing firm looking into blockchain. Earlier this month, Kelly Services announced a strategic partnership with Moonlighting, a privately held US-based on-demand hiring platform that uses blockchain.

Recruit has also been making several investments. Earlier this week, it announced an investment in a company that makes delivery robots.

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