Braintrust – BTRST Token

Braintrust (BTRST) is the decentralized talent network that connects qualified individuals with vetted knowledge to some of the world’s leading corporations. As mentioned on the website, Braintrust is also known to be the world’s first decentralized talent network. The community of individuals who use Braintrust to find employment builds and owns it, ensuring that the network is always serving the needs of its consumers rather than a centralized organization. Thus, the mission statement of Braintrust is to create the world’s most effective talent network—one that is user-owned, aligns incentives, and redistributes value to talent and organizations.

Braintrust makes use of blockchain technology to transparently spread the control of its network to the members of the community, contributing toward the development of the platform. Based on the users’ contributions, Braintrust’s blockchain-based concept aligns the network’s incentives with those who are building it. The contributions by the users may include referring clients, referring talent, vetting talent, and more. Braintrust believes that putting control in the hands of the community always helps grow the network at a faster rate than relying on a central authority, which may otherwise extract disproportionate value in the form of excessive fees from its knowledge workers.

As given in the whitepaper, the Braintrust ecosystem consists of three separate parties: connectors, talent, and clients. Talents are self-employed individuals looking for work. These users sign up for the platform and go through a screening process that verifies their qualifications and background. Talents can apply for various positions on the platform, complete educational courses from the Braintrust Academy, and then participate in the community once their profile has been approved by the authorities.

Following that, there are connectors who are eligible to invite clients and talent, as well as earn BTRST tokens for successful recommendations. Not only that, but they can also receive a dynamic share of the referred talent’s invoice after completing a task.

Lastly, there are clients who place their “asks” on the Braintrust talent network by publishing jobs, providing factors like skillset, area, prices, and other parameters. They are matched with qualified talents who respond with “bids” in the form of job proposals.

Another prominent feature that makes the platform special is its effective price recovery, which is only possible because of its decentralized structure. Typically, corporations lack the necessary resources and time to hire employees at their recognized market value, leading them to use the services of middlemen, such as consulting firms, to obtain talent. This talent, on the other hand, comes at a premium. On Braintrust, a talent’s fee is frequently determined by their skills, rate, and location, which makes the entire process much more streamlined and impartial.

Furthermore, the BTRST token represents governance and ownership in the Braintrust Network. BTRST token holders can influence the network’s future by voting with their tokens on which categories the network should grow into, how disputes should be settled, what platform fees should be, what platform rules should be, and other network governance matters.

History of Braintrust (BTRST)

Braintrust token was founded by the Braintrust Technology Foundation, which is a nonprofit foundation. The whitepaper of Braintrust was released in September 2021. The founders of Braintrust are Adam Jackson and Gabriel Luna-Osasteski.

Before founding Braintrust, Adam also cofounded Cambrian Asset Management (a blockchain asset management firm) and Doctor On Demand (a healthcare service provider). Similarly, Gabriel spent his career building and investing in marketplaces before founding Braintrust. He is also a cofounder of Modernize (a marketplace in the home improvement category) and Upshift Partners (a start-up business solutions provider).

How Are New BTRST Tokens Created?

BTRST is an ERC-20 token issued on the Ethereum blockchain. ERC-20 describes a common list of rules to be followed by the tokens in the Ethereum ecosystem.

On the Braintrust platform, talent and clients can stake tokens to stand out. Staking is a process of earning rewards by holding certain cryptocurrencies. Having said that, staking of BTRST helps users stand out when applying for jobs. Similarly, by staking BTRST, clients can also stand out and attract more and more talent. Besides that, token bid staking helps the network “un-stick,” or minimize friction, making it more transparent.

How Many BTRST Tokens Are There?

The maximum supply of BTRST tokens is capped at 250,000,000.