How Blockchain can help with HR processes

1
visit www.sphinx-solution.com
Call 91-020-26434646
How Blockchain can help with HR
processes? Different governments and industries
around the world have already started leveraging
the potential of blockchain technology.
Blockchain technology development is not only
about Bitcoin and other cryptocurrencies, it can
do a lot more than that.
The decentralized feature of blockchain verifies
and automates the flow of data/information. This
makes it a trusted system to store data without
any third- party help or middlemen. This is the
reason it has attracted different economies.
Well, to our surprise HR professionals can also
take the advantage of blockchain. This article
talks about the potential, an idea which is
generating all over the web. Consider it as a
layman guide. No need of resumes or job
portals The blockchain is a decentralized and
distributed system which can store employee
information related to their job experience,
achievement and even the reason behind him/her
job change. The HR doesnt have to verify it each
time they get in touch with the candidate. This
detail is all authenticated and are stored on the
journey levels of an employee. Likewise, the
company detail will also be provided, so that
the candidate can also check from their side
before applying. It is also possible to store the
performance indicators for better scrutinizing.
2
Blockchain can automate taxes Right now, it is
little difficult to adjust the tax for
contract workers. Blockchain can track the
income, tax rate and how much an employee needs
to pay. So, there is no need to struggle with the
documents when the HR professionals and employees
can record and manage all the document on this
public blockchain database. Streamline everyday
HR work Support of the blockchain-based
application can help with tracking payroll to
issuing pay slips. This technology allows network
computers to efficiently send and receive funds
instantly and securely anywhere around the
world. Thus, blockchain development guarantees to
streamline the everyday HR tasks. Blockchain
technology is different, unlike other technology
which is just altered and added with updates. It
is something world has never seen
before. Research and development regarding this
latest technology potential are happening all
over the world. Where few countries are accepting
it gladly, few are still confused about its
security. One thing, blockchain is cheaper than
people intensive method and it is also
hack-proof. The codes and unique keys save all
the private information on the chain. The time
will reveal its more use case. Till then, if you
are looking to develop a blockchain based
application for your own company to help the HR
process or simply use it for the transaction,
some of the top blockchain development companies
can help you out. We are one among them, contact
us to know in detail.
3
USA 1 732-947-4310 UK 964 0771 7777
916 Malaysia 6017-2126274 IRAQ 964 0771
7777 916 BRAZIL 55 21 2258-7260 INDIA
91-020-26434646 https//www.sphinx-solution.com
Copyright 2018 Sphinx Solutions Pvt Ltd. All
rights reserved.