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Are you sure your business is prepared ahead of new regulations coming down the pipe? This webinar is for crypto business leaders and will cover all you need to know and do to scale up your regulatory compliance operations and protect your […]. Explore the state of the bitcoin derivatives market, factors impacting bitcoin adoption and new developments in cryptocurrency risk management solutions. Transaction volumes on Bitcoin primarily represent the movement of BTC from one address to another.
On Ethereum, however, transaction volumes represent the movement of a much more diverse array of crypto assets. By tracking the on-chain volume of specific ERC tokens, investors can gain unique insights about the value of these tokens. In this fourth […]. Because organizations are spending time and money to properly evaluate potential hires. From standard background checks to drug tests and employment verification services, the need to confirm employee claims and skills is a major cost-sink for HR teams and can impact recruiting timelines.
A recent Deloitte report notes that 58 percent of employers have discovered outright lies on employee resumes, while 86 percent of employees have misrepresented facts or experience. The result? HR needs a better way to vet new employees and ensure they're getting the skills and expertise they need.
Blockchain offers the potential for employees to request education, training and certification records verified by the issuing institution and then pass these records on to prospective employers — who can easily access complete chain-of-ownership to ensure records match resume claims.
For HR this is critical — consider the risks if an employee is hired who claims to have specific job safety training or credentials but isn't telling the truth. Both worker safety and organizational reputation could be at risk.
According to Bitcoin Magazine , meanwhile, some organizations are linking payroll with blockchain transactions. For example, GMO Interent Group in Japan now offers employees the ability to receive some of their salary in bitcoin rather than yen. As more companies adopt blockchain for payroll, employees may eventually prefer to deposit some or all of their paychecks into a digital wallet, allowing them to convert their earnings into the fiat or cryptocurrency of their choice.
Beyond actual bitcoin payments, the use of blockchain helps secure payroll transactions since both parties must agree to the transfer.
In addition, issues with missed payments or disputed amounts can easily be resolved using the shared blockchain ledger. So what's next for blockchain? Forbes suggests a short-term slowdown in the market as regulators take a firm stance on bitcoin-based initial coin offerings ICOs.
In addition, businesses should expect a consolidation of platforms and services as the cryptocurrency market gains ground, in turn leading to calls for better oversight and standardization. Much like cloud computing, this push for standardization should drive growth of niche services, including HR-native offerings for payroll, records management and certification tracking.
Blockchain is big business and expanding at an exponential rate. This transaction technology will offer real benefits for early-adopter HR teams who begin to apply blockchain within their transaction processes. Providers of HR technology and services still have a huge runway for growth while the overall market agrees to platform standardizations in which transactions will communicate around the globe.
But now is the time to seize your opportunity to familiarize yourself and get on board with one of the biggest leaps in technology since the launch of the internet. Tags: Business Transformations Digital Trends. More from this category. Addi P. Security Capabilities The key principles of information security can be efficiently applied to blockchain transactions and implemented as follows: Principle of Confidentiality Blockchain addresses data confidentiality and access controls by out-of-box full block data encryption and access control capabilities.
Principle of Integrity Blockchain technology enables users to trust that the transactions stored on the ledger are tamper proof. Principle of Accountability and Traceability Every transaction associated with blockchain added to a public or private blockchain is digitally signed and timestamped, which means that these transactions can be traced back and creates an authentic audit trail, which is the main objective of the accountability and traceability principle of security. Blockchain and Privacy Laws Blockchain also fits side-by-side with data privacy principles and laws.
Security Solutions According to ZDNet , blockchain naturally lends itself to security applications — not as a threat detection and remediation solution, but instead as a way to ensure complete network transparency. Transaction Technology Trends So what's next for blockchain? Ask Addi P. ADP may contact me about its products, services, and offers. Options to unsubscribe and manage your communication preferences will be provided to you in these communications. Business Owners.