How Block chain technology can benefit the HR function?

What is Block chain technology?

Block chain is a method of storing data in such a manner that it is difficult or impossible to alter,
hack, or trick it. A block chain is a decentralized database of transactions that is duplicated and
replicated through the block chain's entire network of computing systems.
How will it benefit the HR functions?
Block chain is sometimes depicted as a magical wand. It isn't, but it does help the HR boss do a
couple of things to make his or her job smoother and more impartial.
The below are a few examples of how technologies can help with HR management.
 Make it easy to prove your identification.
The recognition and proof that candidates are who they think they are is the first step in the
recruiting process. The block chain provides citizens with the ability to provide sovereign
identities with unquestionable legitimacy.
Independent checking of tamper-proof identities may be taken about and introduced to
prospective employees using block chain apps including Civic.
An applicant may provide the HR department with access to their third-party validated identities
on the block chain as part of their submission by using a private key that only they have access
to.
 Make it easy to check credentials.
Fake academic and technical credentials are a problem for companies all over the world.
Any of the certifications are so intricately crafted that determining whether they are authentic or
not requires more than a cursory glance.
Any of the certifications are so intricately crafted that determining whether they are authentic or
not requires more than a cursory glance.
To verify the validity of a certificate, it is often necessary to contact the issuing institution.
However, it sometimes turns out that such organizations are often deceptive.
Institutions will now publish the certificates they issue publicly in a simple and cost-effective
manner using the block chain. More specifically, third parties, such as the government, will
vouch for the records' authenticity.
Additionally, HR has access to the documents through a private key issued by the claimant.
In addition, an employer can quickly validate a credential issued anywhere in the world.
  Smart contracts will help to increase employee participation.
Smart contracts make it simple for the HR department to simplify the majority of interactions
with itself, the finance department, the employee, and other departments using block chain.
It's especially simple to automate payment so that HR doesn't have to get involved. A smart
contract programme, for example, will release payment to an employee after such conditions are
fulfilled, such as correctly clocked time.
 Improve employee data protection, cut costs, and improve privacy.
Data has more access, anonymity, and security thanks to the technologies. Data is immutable
once it has been recorded. It cannot be manipulated to achieve the desired result.
It also contributes substantially to HR going paperless, which reduces the department's operating
costs dramatically. This is particularly critical for small companies that do not have large HR
budgets.