How Blockchain-enabled Processes Change the Way Industries Work?

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How Blockchain -Enable Processes Change the
Industries work?

• Blockchain, as we know, is a distributed database
  that is a decentralized, digital ledger shared
  over a large computing network. Each computer on
  the network has a shared copy of the ledger and
  can access it at any time but cannot alter or
  delete any record or information stored on a
  blockchain.

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How Does Blockchain Impact The Global Market?

• So, what are the various ways in which blockchain
  impacts the global market? Let us analyze this
  aspect from the point of view of various
  industries.

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• 1. Human Resources
• Human resources professionals function such as
  planning, coordinating, and directing the
  interviewing, recruiting, and hiring of new
  staff. HR professionals consult with top
  professionals regarding strategic planning, and
  often handle duties related to employee relations
  and also those tied to training, benefits, and
  compensation.

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• Though human resources largely rely on the human
  aspect, there is a lot of technology that goes
  behind retaining, evaluating, hiring,
  compensating, and terminating employees.

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• According to the Society of Human Resource
  Management, blockchain will soon modernize
  hiring. This will allow HR professionals to
  quickly verify the credentials of both job
  candidates and existing employees. The
  association also predicts that blockchain-enabled
  processes might "reduce the chances of
  third-party companies providing inaccurate
  historical data about a candidate or existing
  employee since those individuals would have
  greater input and control over data that's
  already been verified by multiple parties.

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• Blockchain processes will affect payroll systems
  and blockchain will be able to handle the
  back-end work for simplifying and standardizing
  payments in multiple currencies.

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• 2. Accounting
• This is a textbook case study for a business
  field that stands to benefit from the blockchain.
  The need for accuracy and precision is paramount
  in accounting. There are many challenges that
  come with managing businesses in far-flung
  locations and the tax code is also overwhelmingly
  complex.

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• The transparency of blockchain provides
  visibility to all transactions for approved
  users. It also reduces the auditor's job of
  validating and sampling transactions. Blockchain
  technology reduces the potential for fraud and
  manipulation.

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• Blockchain has the potential to disrupt the 260
  million annual global lottery market by providing
  confidentiality and anonymity for providers and
  participants alike. Prime Ball, managed by
  Ethereum smart contracts, will be one of the
  first transparent and fully decentralized lottery
  platforms based on blockchain technology. The
  winning results will be publicly distributed and
  recorded on the Ethereum blockchain without
  involving any third party. This model is a major
  shift in such an industry where scratch-off
  tickets and pencil-filled payslips are very
  common.

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• 3. Management and Operations
• Blockchain is changing the way companies are
  doing business. This technology is creating new
  opportunities and operational efficiencies in
  developing markets where political instability,
  hyperinflation, and corruption that have
  frightened many entrepreneurs away. Eastman Kodak
  founded 120 years ago, is trying to reinvent
  itself with its new blockchain venture in this
  ear of smartphones.

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• The KODAKONE management platform will be an
  encrypted, digital ledger of rights ownership.
  Photographers will be able to register their new
  and archived work and license it using the
  platform. This will allow professionals to take
  part in a new economy for photography and offer
  their work on a secure platform.
• To learn more about blockchain certifications,
  check out Blockchain Council.

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Blockchain Council Certifications

• You can check out our certifications, and kick
  start your career in the Blockchain space today.
• Certified Blockchain Expert
• Certified Blockchain Developer
• Certified Smart Contract Developer
• Certified Solidity Developer
• Certified Ethereum Developer

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