bitJob, a decentralized marketplace for student employment powered by the Ethereum blockchain, has announced that it has raised an initial $2 million.

According to the official release, over 1,200 investors have participated in bitJob’s STU token sale so far, which concludes this week.

bitJob aims to transform the way students make a living and gain occupational experience. It offers students the opportunity to earn income and sharpen their skills while enriching their resumes, all within bitJob’s blockchain-based ecosystem of networking, compensation, rewards, and incentives.

The startup explained that its platform starts with a hybrid model, allowing students and employers to transact with PayPal or cryptocurrency, with incentives for using cryptocurrency. bitJob leverages blockchain technology to allow students to be paid instantly in cryptocurrency through its STU token from anywhere in the world, further offering the added benefit of introducing students to blockchain.

“bitJob offers a real solution to student underemployment: an open-source, decentralized, and secure marketplace allowing students to convert their free time into income while enriching their professional experience,” said Dror Medalion, CEO of bitJob. “In addition, employers will be able to develop talent from a global pool of students eager to apply their higher education.”

bitJob has partnered with several institutions to grow its network of students and employers, including the Government of the Netherlands, Blockchain Education Network, Blockchain Association of Canada, Cyprus International Institute of Management, and the Israeli Students Association.