Blockchain

Blockchain is a digital ledger technology that securely records transactions across multiple computers. This decentralized system ensures that data entered into the blockchain is immutable, meaning it cannot be altered retroactively without the consensus of participants in the network. Each block in the chain contains a list of transactions and is linked to previous blocks, forming a chronological chain. This technology is often associated with cryptocurrencies like Bitcoin but has wider applications across various industries, including human resources. In HR, blockchain can be used to enhance transparency and security in storing employee records, verify credentials and qualifications, manage contracts, and streamline recruitment processes. Its decentralized nature helps in reducing fraud, ensuring data integrity, and fostering trust among stakeholders.