GeneralHr Library

Blockchain: What is it and how is HR using it?

Source |Hrdrive .com  |  BY:Rilia O Donelli

If you’ve never heard the term “blockchain,” you’re not alone. If you have but don’t know what it means, you’re also in good company. Blockchain isn’t the newest tech (Bitcoin relies on it), but it’s becoming more mainstream. It has the potential to disrupt everything we do online and in the real world, including traditional HR processes.

Blockchain refers to a digital, decentralized ledger of, well, anything. It can be used to track all kinds of information and is largely immune to falsification, according to CB Insights. You can keep it to yourself or share it with others. Blockchain eliminates the “trusted third party” in transactions, removing unneeded intermediaries and creating efficiencies. This eliminates usage fees and puts the process directly in the hands of the sender and recipient of information. (Want more? CB Insights has a full explainer here.)



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