Decentralized Human Resource Technology by Dr. Dennis Hill and John Macy
What has been promoted in a trustless world as a supply chain solution and an alternate form of currency, blockchain has gained acceptance in the enterprise space and various technical communities as a critical technology for the future. Given its embryonic state, blockchain is not a direct replacement for current human resource management systems. Rather, it is a new and better means of verifying claims of licensure, certification, formal degrees, and other records generally required throughout the applicant recruitment, on-boarding and engagement cycle for workers. Blockchain offers a component in an emerging HR architecture based on microservices that enables employee data ownership and portability across boundaries, as well as solves compliance issues regarding privacy conditions enshrined in legislation in many countries.
Blockchain has already established its’ place in world trade through supply chain tracking and financial transactions. At this hour, blockchain has multiple new roles to play for the HR profession, e.g. in vaccine prioritization and distribution among workforces, and in transnational employee data transfer amid security and privacy concerns.