Employers are living in a world where business and workplace operations are increasingly becoming more technology driven and data intensive. From a workplace perspective, employers are more heavily relying upon technology to securely collect, store, and process data, as well as to manage payments to workers and to navigate a litany of other challenges present in the modern workplace. Blockchain technology can make these processes even more efficient and optimal for employers. You might be curious about this nascent tech but unsure how it can actually be deployed to your benefit. This Insight provides you with three real-life use cases you can implement today – along with some considerations to take under advisement before you take the leap.
Pop Quiz: What is a Blockchain?
As a quick refresher, a blockchain is a digital ledger that contains an immutable historical record – or chain – of all transactions that have occurred on that blockchain’s network. The digital ledger is also transparent and immutable (i.e., irreversible), which makes falsifying information difficult. Essentially, a blockchain is a digital record of all transactions ever made within a given system and the data it holds cannot be deleted or changed. Also, because many blockchains can be viewed by anyone working on the chain, this makes falsifying information, or engaging in fraud very difficult, and increases the authenticity and security of any information on the chain.
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Images of the Whitegate fuel protests earlier this month were altered to make it appear gardaí were violent towards protesters. The AI-doctored images were shared widely online, including by inter...