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Blockchain

Public and private blockchains have different purposes, but they both hold potential

for applications in human resource management. A public blockchain is open to anyone with

an internet connection, whereas a private blockchain is only accessible by approved

participants (Zheng et al., 2018). Public blockchains are better suited for distributing

information across a large group of people. This allows organizations to keep track of

employee data more securely and transparently than traditional methods like paper records or

databases.

Private blockchains are perfect for tracking the flow of money and assets between

businesses and their employees. Transactions take place directly between parties without

having to go through a third party, which can reduce costs and improve security. Both types

of blockchain present unique benefits that could be useful in HRM processes. Blockchain

technology is most often associated with the cryptocurrency world, but there are potential

applications for blockchain beyond currency transactions (Belotti et al., 2019).

A public blockchain is a distributed ledger of all transaction history that can be freely

viewed by anyone with access to the internet. Because it is publicly accessible, a public

blockchain has the potential to revolutionize how businesses process and track transactions.

Public and private blockchain networks have different characteristics that make them suited

for a variety of applications in human resource management. A public blockchain network is

open to anyone with an internet connection, making it accessible to a wide audience. This

makes public blockchains ideal for cases where data needs to be shared broadly across an

organization or consortium of organizations.

Public blockchain technology is built to serve as a tamper-proof and transparent

infrastructure for managing transactions. It features an incorruptible ledger, which helps

reduce fraud, thereby improving efficiency and trust in the marketplace. In terms of potential
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applications in human resource management, public blockchains could be used to create a

more streamlined system for collecting employee data, streamlining pay processes and

automating HR functions. They could also be utilized to manage apprenticeships or

workforce training programs.

Public blockchains have enormous potential for supporting efficient and secure

human resource management practices. Public blockchain technology has the potential to

revolutionize human resource management HRM due to its transparent and secure nature.

One of the biggest benefits of public blockchains is that they are completely trustless. This

means that there is no need for third party verification or approval everything is recorded on a

public ledger, which makes them ideal for tracking transactions and ensuring accuracy.
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References

Belotti, M., Bozic, N., Pujolle, G., & Secci, S. (2019). A vademecum on blockchain

technologies: When, which, and how. IEEE Commun. Surv. Tutor., 21(4), 3796–3838.

Nofer, M., Gomber, P., Hinz, O., & Schiereck, D. (2017). Blockchain. Bus. Inf. Syst. Eng.,

59(3), 183–187.

Zheng, Z., Xie, S., Dai, H. N., Chen, X., & Wang, H. (2018). Blockchain challenges and

opportunities: a survey. Int. J. Web Grid Serv., 14(4), 352.