If you haven’t heard of blockchain, perhaps you’ve heard of Bitcoin, the cryptocurrency that uses its technology? Let's take a look at how blockchain could transform the daily work of the HR department. HR professionals are becoming increasingly curious about the benefits of blockchain technology and are already seeking ways to seize a ‘first mover’ advantage by adopting it. IBM, Samsung, Visa, Walmart and Barclays, to name just a handful, are already seeing the benefits of blockchain to track supply chains, create ‘smart’ legal contracts and simplify financial transactions. Each of the Big Four accounting firms has already rolled out blockchain in various formats. So, what on earth is it? Blockchain technology enables a record of transactions to be stored and verified across a network and validated in real time. Transactions can be financial in nature or purely information-based, and because the network records each transaction (the ‘block’) and maintains a permanent and ...