Blockchain is basically a method of recording information on a distributed and encrypted ledger – eliminating the need for trust, or middle-men in many applications. Today it is best known as the breakthrough technology behind virtual currency Bitcoin. But it has implications for any industry which relies on recording, storing and tracking transactions.
Recent research has shown that more than a third of candidates lie on their CV. HR professionals will overwhelmingly remove anyone from the hiring process who lies. Research from CV-Library has shown that 92.5% of Brits have got away with lying on their CV and nearly three quarters of those who confessed to lying got the job as a result. From interviewing candidates to checking references, detecting the liars can be a time intensive and costly exercise for HR directors and the wider business. So, does Blockchain hold the answer?
If a platform allows candidates to create Intelligent Profiles – in effect a digital CV that records details of professional achievement or educational certification on a distributed ledger, where it can be verified and then permanently recorded - it then allows organisations to verify the assertions that candidates make during applications.
By recording on a candidate’s profile that an assertion has been verified, there is no need for it to be checked again in the future.
Facial recognition technology can also be used to verify the identity of candidates, by asking them to take a picture using a mobile app and comparing it to a photograph on official identification documents such as passports.
This is of interest in high-risk industries.
The reference process, which is often lengthy, admin heavy and takes HR people away from focussing on more creative tasks like finding the perfect candidate, will be eliminated by blockchain CVs. By being time-stamped and not able to be tampered with, CVs verified on such a system will have a verified seal of approval removing the need to validate information and saving HR teams time and resources interviewing multiple candidates; ensuring they hire the best people.
A Blockchain CV platform will not only mean that the best candidate with the right experience gets the job but that the HR department will become far more efficient – cutting out the excess admin and hours involved in the recruitment process.
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