IRVINE, Calif., March 7, 2018 /PRNewswire/ --
ShiftPixy, Inc. (NASDAQ: PIXY), a disruptive workforce
engagement platform provider, is leveraging blockchain as a digital
ledger for all human capital transactions. Blockchain is being met
with skepticism due to the lack of use cases.
ShiftPixy is a prime use case for implementing a private,
centralized blockchain due to the security and privacy of the data
that a blockchain affords. In business, human capital transactions
contain some of the most crucial and sensitive personal
information-namely, everything contained in the personnel records
for an individual (including social security number, date of birth,
driver's license or passport details, bank account information, tax
form elections, and more). Any data considered to be a human
capital validation point or part of the hiring and onboarding
process is being utilized and recorded in ShiftPixy's blockchain
ledger. The employee I-9 verification process, for example-one of
the most stringent, rigorous, and penalty-laden compliance
procedures-is positively impacted by blockchain utilization of
biometric authentication and automatic verification of I-9 data,
removing human error in the process of screening for fraudulent
information. Scott Absher, President
and CEO of ShiftPixy, stated, "We use blockchain technology in our
ecosystem, because it is one of the most efficient tools available
to help us protect our data from cyber interference. Any data
considered to be a human capital validation point or part of the
hiring and onboarding process is being utilized and recorded in
ShiftPixy's blockchain ledger."
The security and ability for auditing transparency afforded by
the integrated blockchain technology is paramount to protecting
both the employee and the ShiftPixy job providers in the ShiftPixy
ecosystem. Verification of that data on the blockchain allows both
employers and auditing agencies to confidently validate additional
criteria such as employment dates, and a candidate's background
(i.e. education, references, certifications, etc.), and share the
verification status directly on multiple distributed sources within
the blockchain, further underscoring the trust and accuracy of a
candidate's information and corporate compliance. Added benefits
for data integrity include allowing employees and shift workers to
rate experiences at a workplace-also recorded in the blockchain's
transparent ledger, which gives the peace of mind that the review
or rating cannot be tampered with (i.e. neither shifters nor
companies can pay to change or remove unfavorable ratings). Future
implementation of blockchain technology within ShiftPixy's
technological ecosystem include the extended applications for
payroll and real-time payments, and utilizing smart contracts for
employment contracts, which facilitate the performance of credible,
trackable, and irreversible transactions without third parties.
Learn More
To discover the power of ShiftPixy for your business please
select one of our convenient webinar timeslots at:
https://www.shiftpixy.com/webinars/ or call us at 888-798-9200
to register.
Note of Clarification
To be clear, ShiftPixy has never, does not now and will never
use its blockchain technology in any form of cryptocurrency or
cryptocurrency related application.
About ShiftPixy
ShiftPixy (NASDAQ: PIXY) is a disruptive human capital
management platform, revolutionizing employment in the Gig Economy
by delivering a next-gen mobile engagement technology to help
businesses with shift-based employees navigate regulatory mandates,
minimize administrative burdens and better connect with a
ready-for-hire workforce. With expertise rooted in management's
nearly 25 years of workers' compensation and compliance programs
experience, ShiftPixy adds a needed layer for addressing compliance
and continued demands for equitable employment practices in the
growing Gig Economy.
ShiftPixy Cautionary Statement
The information provided in this release includes
forward-looking statements, the achievement or success of which
involves risks, uncertainties, and assumptions. Although such
forward-looking statements are based upon what management of the
Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate. If any of the risks or uncertainties, including those set
forth below, materialize or if any of the assumptions proves
incorrect, the results of ShiftPixy, Inc., could differ materially
from the results expressed or implied by the forward-looking
statements we make. The risks and uncertainties include, but
are not limited to, risks associated with the nature of our
business model; our ability to execute the Company's vision and
growth strategy; our ability to attract and retain clients; our
ability to assess and manage risks; changes in the law that affect
our business and our ability to respond to such changes and
incorporate them into our business model, as necessary; our ability
to insure against and otherwise effectively manage risks that
affect our business; competition; reliance on third-party systems
and software; our ability to protect and maintain our intellectual
property; and general developments in the economy and financial
markets. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change, except as required by
applicable securities laws. The information in this press
release shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section, and will not
be deemed an admission as to the materiality of any information
that is required to be disclosed solely by Regulation FD.
Further information on these and other factors that could affect
the financial results of ShiftPixy, Inc., is included in the
filings on Forms 1-A and 10-K and in other filings we make with the
Securities and Exchange Commission from time to time. These
documents are available on the "SEC Filings" subsection of the
"Investor Information" section of our website at
https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC's April
2013 guidance on using social media outlets like Facebook
and Twitter to make corporate disclosures and announce key
information in compliance with Regulation FD, ShiftPixy is alerting
investors and other members of the general public that ShiftPixy
will provide updates on operations and progress required to be
disclosed under Regulation FD through its social media on Facebook,
Twitter, LinkedIn and YouTube. Investors, potential investors,
shareholders and individuals interested in our Company are
encouraged to keep informed by following us on Facebook, Twitter,
LinkedIn and YouTube.
Media Contact:
Clark Wilson
clark.wilson@shiftpixy.com
+1(949)-245-7250
SOURCE ShiftPixy, Inc.