Asynchronous Activity

Submitted BY:
Neha Pinto
1927640
MBA-HR
Understanding of the Article:
Blockchain is a decentralized, distributed ledger that helps to sequentially stores transactions.
It can be thought of as a database that is shared across a public or private network. This
database can only be added to. It cannot be modified. Since everything is recorded and can be
checked at any time it does not need any intermediate governing authorities. This blockchain
system is being used in many industries. In supply chains especially, in the traditional ones,
there is a lack of information sharing across the stakeholders in the supply chain. But with
blockchain, a retailer can know from where the supplier is obtaining good, a supplier can
know where the raw materials are sourced from and a customer will know if the product
he/she is buying is authentic. For each virtual or physical good, there will be a complete list
of transactions leading all the way up to the origin of an item. Data cannot be controlled or
manipulated by a single party.

Blockchain in the fashion industry:

 One of the major challenge that the fashion industry is facing is the counterfeiting of
their products since fashion industries thrive on creativity and novelty. Using
blockchain, manufacturers and designers can protect their brands against
counterfeiting. For each fashion item, its origin and ownership can be tracked all the
way up to its source. Counterfeit product or replicas will not have an authentic chain
of records, and can thus be easily rooted out.  Each step in the manufacturing process
of the clothes can be recorded, from raw materials to finished product complete with
time and location stamps.
 Block chains can be used to licence designs and trademarks, so any sales done using
these designs can be easily tracked for royalty purposes.
 The supply chain can also be strongly integrated.

How blockchain can be used for Human Resource management:

 Strengthen security for sensitive personal & financial data:

Implementing blockchain can help thwart both internal fraud and external hacks of
sensitive employee records. Access to the blockchain is limited and controlled and
even those with access can’t arbitrarily make changes to the record. This limits both
internal fraud and external hacks of sensitive employee records.
 Improve recruiting processes, verification of job qualifications & background checks
A reported 75% of HR managers have identified a lie on a CV. With nearly 20% of
hiring managers also reporting they spend less than 30 seconds looking at a CV, it is
impossible to know how many fabrications actually go undetected . Traditionally HR
managers have relied on CVs, which applicants can modify and embellish. While
LinkedIn and reference calls can be used to verify some information, these methods
only provide a thin layer of verification. Additionally, these analog processes can also
be time consuming and a hassle.  As many HR professionals can confirm, conducting
a traditional background check can be slow and expensive. It can also place a burden
on candidates, requiring numerous forms to be filled out. Blockchain can reduce the
labour and expense currently associated with background checking.  With the
blockchain, institutions have an easy and less costly way to publish the certificate they
issue online. More importantly, third party entities like the government can vouch for
the authenticity of the documents.
 Smart contracts are lines of code that are stored on a blockchain and automatically
execute when predetermined terms and conditions are met. It is easy to automate
payment so that HR doesn’t need to intervene. For example, a smart contract
application can release payment to an employee when predefined conditions are met,
such as appropriately clocked time.

Examples:

1) Vault Platform: Making workplace harassment reporting more transparent

Vault was established in 2017 to offer employees a safe place where they could record
and resolve misconduct securely. It uses blockchain to attach a permanent time stamp on
data records, creating an accurate timeline of events. This speeds up the investigation of
workplace harassment, providing employees with a resolution as fast as possible.

2) Wurknow : Blue collar workers (in UK/US)

Blockchain plays a particularly important role in the compliance module, maintaining a

consolidated set of data records from workers’ drug-testing records to performance
reviews, which fosters trust and transparency. With WurkNow, employers have easy
access to prevalidated on boarding documents and any case of labour violation,
simplifying the blue-collar hiring experience.