NGA Human Resources (NGA), a services company for human resources and payrolls, has announced a partnership with Gospel Technology (Gospel) to explore how to exploit the blockchain in a human resources context. Gospel has recently received Salesforce Ventures as the first global investment in blockchain technology.
"The greatest risk for any company is a data breach. Failure to protect Identifiable Personal Information (PII) can literally ruin the reputation of an overnight organization. It is for this reason that we spent the past year considering the potential integration of blockchain and other technologies into our processes and our human resources and wage management services. It is absolutely critical to our business that we can give our customers and employees the certainty that their data is protected and accessible in the most reliable environment possible,"Explains Andy Monshaw, CEO of NGA Human Resources.
"In line with our business model to collaborate with the best best-of-breed solutions, we have partnered with Gospel Technology. Together, we are innovating to meet the demands and expectations of security-conscious customers now and in the future. In the pilot project so far, we have established a level of data confidence that is changing the game for any business service company, not to mention the payroll management service. This is an extremely exciting development for our customers and we hope to commercialize innovation in the near future."
Because NGA and Gospel
The NGA HR product and service innovation team is testing the Gospel secure corporate data platform. The intention is to study how to integrate this into the architecture of the NGA application in one way (or ways) that reinforces the chain of data trust.
This first project, which will last until March 2019, makes it possible to establish the value test (PoV) by NGA HR. There is therefore the possibility of adding the platform as an infrastructure level for access and data security to the NPO HR BPO compensation management services.
The confidence layer designed within the Gospel Technology solution seeks to meet the requirements of a growing number of organizations. They want, and are beginning to take over, unlimited liability for data breaches by processors and processors in the supply chains. Monshaw predicts that this trade request will increase steadily until 2019.
The cost of data breaches
In July 2018, Ponemon Institute published an update of their "Cost of a data breach study". This highlighted a continued rise in costs associated with data breach incidents. Respondents to the study are supporting:
- an average cost of almost 4 million US dollars per violation
- a 27.9% probability of a recurring material breach in the next two years.
Aligned to these figures, the Verizon Data Breach Investigation Report of 2018 (DBIR) has identified that the two main objectives for malicious cyberattors are:
- database (as a target asset)
- personal data (such as data type) s.
The secure data platform of Gospel Technology Enterprise
Gospel Technology sells a secure inter-enterprise and intra-corporate data collaboration platform. This uses distributed logs to allow timely and reliable access to critical business data throughout the entire life cycle of use. In fact, Gospel presents a new way to access and control data that is:
- scalable enterprise level
- highly resilient
- trust in an otherwise unreliable environment.
Built using its own distributed ledger technology (blockchain), Gospel Technology Enterprise's secure data platform ensures contextual access to PII, only those authorized to access data can view it and only in the context of the relevant information fields required to complete a process. One such approach:
- increases the efficiency of the service
- reduces the possibility of human error.
NGA HR is also considering how this could improve employee experience, especially those involved in heavy data processing roles, such as:
"We are really excited about this partnership with NGA HR and we believe the results will demonstrate the efficiency of the business, the reduction in operating costs and the future tests that the Gospel Technology solution brings into the business world. This partnership moves the blockchain into business use and demonstrates the real capability of technology in different vertical markets and use cases.
"In the HR NGA pilot, we have shown how a partnership that using Gospel Technology to manage data correctly and contextually allows the simplification and application of data security, privacy and ethical management in line with modern regulations and Customer expectations: Data access control through granular transactions, based on an agreed consensus, builds trust in every business process.Our joint work will mitigate data breaches, minimizing costs and any damage to the associated reputation – particularly relevant in light of the current wave of treatment and inappropriate use of personal data,"Explained Ian Smith, CEO of Gospel Technology.
Enterprise Times: what does this mean?
Ian Smith, of Gospel, argues that today's software architectures are no longer suitable for the purpose. The proof lies in the regularity of the high profile security breach. To counter this vision of the Gospel it is necessary:
- secure enterprise and personal data
- create an environment in which reliable data collaboration and inter-company data governance are the norm.
Given these aspirations, the partnership with NGA has a logic behind it. Except, perhaps for bank accounts and the like, nowhere personal information as valuable as human resources. Protecting both the employer and the employees is mandatory, if poorly performed today.
The notion of "blockchain" embedding technology in application architectures, if proven, is going should attract business interest. This will make the results of the NGA / Gospel partnership even more interesting.