Will Blockchain Technology Disrupt Hiring Functions?

May 1, 2018

Blockchain technology could shake up corporate HR departments by streamlining hiring processes, eliminating the need to verify candidate records and providing new ways to protect employee data.
“You can look forward to a time when background screening, reference checks and verification of résumé data are obsolete,” said Kevin Wheeler, founder and president of the Future of Talent Institute, a San Francisco-area think tank, in a March 26 post from the Society for Human Resource Management.

Blockchain — a technology originally used to verify transactions involving cryptocurrencies such as bitcoin — is an encrypted digital ledger of records organized into “blocks” of data on servers and authenticated across networks. The technology has the potential to simplify contracts and payments, thus eliminating third parties, said Raghav Singh, director of reporting and analytics at Korn Ferry Futurestep, a Los Angeles-based firm that outsources recruitment processes.

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