Bitcoin’s Blockchain Technology for Recruiting

It was just a few years ago that we started seeing the popularity of Bitcoin on the rise and only months ago that we watched this new form of currency reach unprecedented value, raising interest in buyers and miners alike.  That's right... "miners." Is blockchain mining the next trend coming to Talent Acquisition?

For those that don't already know, Bitcoin is an unregulated currency taking the world (or at least the news) by storm.  To level set on how mining for Bitcoin works, here's this snippet from

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released.  Anyone with access to the internet and suitable hardware can participate in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.
Source: Bitcoin Mining |

Why is this important to Talent Acquisition?  Because the blockchain (or ledger of data) isn't always about solving puzzles or getting rewarded with Bitcoin.

Just a few years ago some colleges and higher education establishments began to use blockchain technology to share educational transcripts and academic credentials of students.  This new format is virtually tamper-proof and allows for rapid sharing of accurate and validated data.  If we can easily see the value and savings of this should it continue to scale within the world of higher ed, it's not a leap to anticipate a jump into talent acquisition as employers constantly fight to validate the work history and backgrounds of candidates seeking employment.

[The Recruiting Robots Aren't Coming, They're Already Here | Chris Hoyt]

Imagine having at your fingertips the validated work history of a candidate.  A complete list of their credentials, certifications, accomplishments, and more.  All done through an easy digital exchange or contract.  Gone would be the time of waiting days (if not weeks) for validated work history.  No longer would employers be dependant upon smiling and dialing to check backgrounds and connect with local employers or related resources.

But wait, there's a catch for us talent professionals... (login to catch the rest below)

Not a member?  You're missing out.

After logging in, CareerXroads members gain access to the final remarks of each article and the collaboration taking place among participating colloquium members.  Other benefits include a full library of CareerXroads research, meeting materials, thousands of peer reviews and engaging conversation with vetted professionals.

Log in below or contact us to see if your company qualifies for membership.

Tags: , , ,
Chris Hoyt
A 25 year veteran of recruiting and HR, Hoyt is a sought-after speaker with presentations including national conferences with SHRM, LinkedIn, HR Technology and others in the USA as well as iRecruit, Australasian Talent Conference and more abroad. Chris has been promoting and leading full scale and enterprise-wide integrations of social media and mobile marketing within workforce strategies for his entire career. His expertise and passion for interactive/social recruiting, candidate experience, and both national and international recruiting strategies are all areas that Hoyt now leverages as President and Partner at CareerXroads, a Recruiting/Staffing consulting and think tank organization that works with corporate leaders from around the world to break out of traditional recruitment practices and push the envelope in an effort to win the ongoing war for top talent.

Related Posts