Unlocking the Power of Blockchain in Recruitment

Speeding Up Hiring and Ensuring Trust

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What is blockchain, and how can it be useful for recruiters?

Dan Tapscott, a blockchain expert, defines it this way:

“An incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott. Authors of Blockchain Revolution

A few years ago, everyone was excited about blockchain's potential to change business by securing data and increasing transparency. However, blockchain got a bad reputation when cryptocurrency became the rage, and people lost money when the value of cryptocurrency fell.

But this is no way changed its value for recruiting or for storing confidential data securely.

Let’s explore how blockchain can speed hiring, provide verified, accurate information, and prevent wrong hiring.

Applications of Blockchain in Recruitment
Because blockchain provides a tamper-resistant ledger for storing candidate information, reducing the risk of fraud, it allows candidates, employers, and recruiters to access accurate and verified information. Several firms are now offering recruiting services based on blockchain technology. The Australian-based Chrono.tech, 6Pence, Jobvite, and APPII all offer some blockchain-based solutions. The number of firms adding blockchain integration is growing rapidly.