The expansion of blockchain continues and the technology is well established to reach almost all sectors. New cases of use are continually being discovered and, for many entrepreneurs, meeting the blockchain for the first time has only recently happened. Even so, it has opened up numerous new possibilities for them.
Not many people know the blockchain technology and its possibilities. Cryptocurrencies, which are just one of the applications of the blockchain, are mostly attentive to themselves, while the technology that has made them possible remains in the darkness.
However, blockchain can do much more than just being a basic technology for Bitcoin and its altcoins. In reality, it is said to be able to revolutionize entire sectors. An interesting use case for this technology is the way it can forever change the approach to staff or staff recruitment.
The Gig Economy
The first thing to note is the rise of the gig economy. This is a form of economy that was launched due to a massive increase in independent work and short-term contracts. Experts argue that one of the initial reasons why the gig economy exploded is blockchain technology. Blockchain was able to redefine the way people think and do recruitment for various jobs.
Blockchain-based solutions can also provide encryption, which can protect sensitive company data, including employee personal data. Candidate data is also much safer than ever. In addition, companies can now easily check candidates' CVs.
As for freelancers and short-term recruitments, they allow companies to remain flexible, which is a positive change for them. As a result, they fully supported the rise of the gig economy, as well as blockchain that made everything possible.
Blockchain registries work like no other technology before and are in an ideal position to make contemporary economics possible. No one can monopolize them, since the very nature of the blockchain is democratic. This means that it is available to anyone at any time without a centralized authority that can change the rules to suit your needs.
This realization is what makes the blockchain true and right, which is why both big companies and small businesses are starting to open up to this technology. It's cheap but also has countless advantages over previous technologies. And while many are skeptical to this day, even some of the skeptics are starting to change their minds.
An example of a massive company that has decided to turn to the blockchain and give it a chance is IBM, which is interested in helping a project – Stellar (XLM) – to advance its technology and deliver its products and services to the public.
How will the staff be in the future?
While blockchain technology is truly revolutionary, experts say the future of staff will not depend entirely on this single technology. Obviously, blockchain makes changes and can innovate entire sectors that are believed to have reached the end of their development. It presents new opportunities for HR professionals who were looking for a way to change things.
The ecosystem is fast and transparent and, above all, safe. This alone would be enough for the blockchain to attract the attention of companies and business owners, especially these days, when hacking attacks and data theft are virtually a daily event.
Today's economy is digital and cybercriminals have exploited this fact to steal money and data for years. With blockchain, companies will be able to better protect this information and improve their image and services in the same way.
The nature of the employer-employee relationship is changing because of this technology and in some years it may even be completely different from what we know today. However, before this happens, blockchain must first be properly adopted and become mainstream. Only then will those who are struggling in today's economy be able to live in dignity thanks to the new technology.
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