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HR functions should consider the benefits blockchain delivers – such as trustworthy verification of counterparties’ identity without the involvement of a third-party – and then identify problems and areas of inefficiency in their existing operations.
The implementation of blockchain-based solutions to address some of the above-mentioned HR challenges won’t happen overnight, it’s likely going to be a gradual process. 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.
Often, even when tech gurus talk about innovation, they usually end up with renovation. Instead of coming up with truly novel technology, they just slightly alter and refresh what already exists. Blockchain is different. It’s one of the few developments out there that is really and truly brand new, like nothing that we’ve ever seen before.
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 will streamline routine tasks.
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