The future of HR could be in blockchain technology

Financial operations are the most common application for blockchain technology; however, blockchain can also be used in other situations such as staff recruitment. Currently, relations between companies and employees lack transparency, and there is no single system to verify the skills and competencies of employees. As such, the labor market is dominated by three main problems: little confidence in candidates outside recommendations, recommendations being too general or very subjective and unreliable recommendations. All of these problems would be solved by a unified system of verification — something blockchain technology was designed for. This will allow companies to receive more reliable information on applicants and applicants to stand on their merits instead of who better “sells” him/herself better during an interview.