How blockchain technology can help HR

Technology

The good news is, we have it in our hands to design the next generation of digital workers and there are some blockchain features we can incorporate into our digital work platforms that can improve the situation.

For instance:

  • The ability to exchange digital assets without the need of a 3rd party
  • The ability to execute smart contracts in the employment space
  • A distributed ledger to store digital records
  • An indelible record of all previous transactions 

Blockchain at work
Let’s look at some examples of blockchain at work.

Only a year ago, there were about 10, maybe 15 startups in this space. Now, there are over 52 startups building blockchain-driven solutions to many different workforce problems.

There are different segments, but let me take you through four of them that are quite interesting:

  1. Qualification and verification.
  2. Paying employees.
  3. Work matching platforms.
  4. Connect your information across the web.

Developments in blockchain technology can be of great use to HR in helping to get their organization ready for a changing workforce. As with any new technology, however, the starting point should always be: what problem are we trying to solve here? In order to get this right, all of the parties involved – from HR and recruitment professionals to startups and blockchain technologists – should constantly keep talking to each other

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