Benefits and Use of Blockchain Technology to Human Resources Management: A Critical Review

Abstract

Globalization brings advantages to worldwide awareness and cross-border technology dissemination in two respects to enable nations to readily access foreign expertise and enhance international competition from the increase of emerging market companies, as well as innovation and the introduction of foreign innovations (Aslam et al., 2018). Human Resources (HR) nowadays generally faces various difficulties in the world internet era and spends a lot of time connecting, screening, and verifying the resume of applicants, conducting credentials verifications, and checking backgrounds to reduce the likelihood of poor recruitment. For example, recruiters connect the profile of candidates from different channels such as direct application, recruitment agency, and social media; and hiring resume verifications is therefore a bottleneck. Hong Kong's telecommunications industry is totally privately-owned and faces no restriction on foreign investment, and it is also open for competition. Use of blockchain in the twenty-first for the period from 2004 to 2014, an instance of international expertise and technology will increase innovation ability and labour productivity development. Experts say that obtaining verification of credentials using blockchain can reduce costs and delays, increase confidence and increase hiring automation (Han, 2017). Background checks on shortlisted candidates / applicants’ lies are used to find increasing numbers of companies on their profiles to get job opportunities (Wood et al., 2007 cited in Brody, Richard G, 2010).