More and more entrepreneurs are seeing the role of the blockchain technology as an essential part in boosting current businesses and producing disruptive industries.
Penny Stoker, the Global Leader of HR Services in EY, said the technology can be applied in the human resources industry. For instance, online companies that link employees with potential jobs and employers with suitable workers can create ways to verify the records of an applicant.
In the same way blockchain serves as a public ledger that records transactions, an HR-applied blockchain system may verify the candidate’s employment history. These details may include job responsibilities in previous employers or can be more exact in details such as start and end date of job contract.
Disrupting the Financial Landscape
Mainly, because of its transparency and effectivity in tracking transactions from sender to receiver, blockchain has been suspected of making a disruption in the financial industry. The technology may just be the solution to recording an account’s credit history. This way, breaches in the security of highly sensitive identification details like what the infamous Equifax breach presented can be avoided.
Tom Golway, chief technologist at Hewlett Packard Enterprise explained that blockchain would also fasttrack legal agreements between businesses. For Alicia Tillman, chief marketing officer at SAP, blockchain can help track the supply chain of products rolled out in the market. This way, consumers will know where the products they purchased were sourced down from the raw materials used. In turn, businesses will be able to identify in an instant which part of the chain caused its product to falter.
Transparency and Accuracy of Blockchain
In the core of blockchain technology is its capability to provide transparency that can be verified instantly and is accurate. It is this aspect that would help startup ventures gain easier access to funding which many have been deprived of amid the tight competition with developed businesses. Instead of traveling and exhausting hours on getting funding, venture startups can expedite the process with blockchain.
One of the firms helping fund tech startups easily through blockchain is Global Blockchain Technologies Corp. (OTCMKTS: BLKCF). It is one of the emerging firms today that is making a point on the significance of the technology.
The firm strongly sees blockchain as a game changer in a world of fiat currencies as demand for a currency that cannot be continuously created and depreciated will grow. The company believes blockchain is in its infancy. Global Blockchain aims to professionalize the industry with the strong virtual currency available in the market.
The firm is a blockchain startup accelerator that is focused on selecting the best digital tokens that would give investors maximum return. It provides its investors with a basket of blue chip crypto holdings at very low cost through mining. Aside from this, money managers who place their bets on Global Technologies will have access to coveted pre-initial coin offering (ICO), financing and ICO financing.
Recently, the firm has announced a stock split where shareholders will see its stocks in the firm double. The move is expected to liberate the value of the firm’s mining division and assets, making the firm a potential disruptor in the market of accelerator for blockchain startups.
This article originally appeared in Guild of Bloggers.