Bitcoin is now fairly well known, a means of making financial transactions. Bitcoin is based on Block chain and I’ve been researching to understand more; these videos are helpful:
How does a blockchain work, simply explained
Blockchain and the middleman
Blockchain Expert Explains One Concept in 5 Levels of Difficulty (I’ve set this to start at the expert level as this seems the most helpful)
Block chain is a network of computers and this information is held by many computers and constantly updated.
There are a lot of tasks currently performed by ‘middle men’, but with a smart contract (via Blockchain) these can be removed. It will save money, and we can make money.
The block chain will provide proof of ownership/ history and be a secure ledger. But there will be trust issues to begin with.
Why is blockchain important to us?
Think about the online sites that have access to your data – your bank, LinkedIn, Facebook. They all store data on you and own this data so they can sell it on to other companies – for credit checks, adverts etc. With block chain, the data remains in the chain, and is much more secure.
There may well be a new social networking site where you control your data and if anyone makes money from your data it will be you.
We can often feel confused but that’s fine. It means we are learning. For me, i’d rather start trying to understand myself now, rather than waiting, perhaps a long time for it to be covered in the mainstream press. I am interested in how it can be used in recruitment, and will be posting up more as I learn more.
Blockchain in recruitment , partly from this article.
So much of recruitment is done online now – including using computer-based interviewing and interviews by text message. Technology is used to connect job seeker and company and tech providers are increasingly involved. The way things are heading we are likely to take a more active role in our own recruitment. We could be approached to see if we are interested in a job, and our details presented to a potential employer who can get in touch with us if they want to know more.
Background checks may be easier when we each have our validated personal information held on a secure blockchain application and when we get the job offer we can go through our induction via blockchain – everything we need will be available.
Instead of a company paying a recruitment company, instead the candidate would get paid a percentage of the agreed salary for their work in handling the recruitment.