Scientific Online Resource System

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series

Blockchain innovations in HR management

Nadezhda Filipova

Abstract

Identified as a `game changer`, the blockchain technology draws the attention of both IT pros and business analysts, and promises to revolutionize many industries and business processes. Human resources management (HRM), being wide open for IT innovations, appears to be a possible area of blockchain application. In this context, the purpose of this paper is to reveal the possibilities of using the blockchain technology in the field of HRM, highlighting its benefits and potential problems for the HRM business processes. In the first place, the author defines the scope of the HRM business processes. Then the basic concepts and mechanisms of the blockchain technology - such as hashing, DLT, and smart contracts, are discussed. Unveiling some problems in the HRM business processes, the paper examines blockchain-based solutions. More particularly, the attention is drawn to job applicants` information verification, job search, keeping employees` records, and overseas payroll payments.

Keywords

blockchain, HRM. HR business processes, smart contract, hashing, technological innovation

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