Blockchain – it's the latest technologicaldisruptor, and it's more than just for bitcoin financialtransactions. A whole host of industries are exploring thetechnology, including human resources.

Bernard Marr, author of “Data Strategy,” writes in Forbes thatHR recruiters can now take advantage of blockchain CVs, designed tostreamline the selection process by verifying candidates'qualifications and relevant experience.

For the unfamiliar, blockchain is a way of storing and securingdata. According to Wikipedia, a blockchain is a permissionlessdistributed database that maintains a continuously growing list oftransactional data records hardened against tampering and revision,even by operators of the data store's nodes.

The blockchain (data) is primarily tamper-resistant throughtime-stamping the hash of batches of recent valid transactions into“blocks,” proving that the data must have existed at the time. Eachblock includes the prior timestamp, forming a chain of blocks, witheach additional timestamp reinforcing the ones before it, thusgiving the database type its name. Each blockchain record isenforced cryptographically and hosted on machines working as datastore nodes extending this validation to the network as awhole.

One of “the brightest examples” of blockchain technologyimplementation in the HR industry is Aworker, according toTech Bullion.

“It is a platform for professionals to build a better,decentralized world. It's a win-win situation,” Tech Bullionwrites. “Employees will be able to obtain a reward for their properperformance, professional and communication skills.”

Blockchain technology will also reduce the time that HR managersspend on “deep interviews, professional skills check and otherimprecise data from the resume” – as well as the time thatcandidates have to wait to receive a yea or nay that they're hired,according to Tech Bullion.

EchoLink, afirm in Palo Alto, Calif. that offers a blockchain-based recruitingand professional networking platform, last week announced thelaunch of a new digital cryptocurrency, the EchoLinkToken.

The new currency helps EchoLink's platform obtain keyinformation from other blockchain databases across the globe.Through self-enforcing or “smart” contracts, EchoLink's platformautomatically uploads new information on each applicant from thesedatabases as soon as possible. The EchoLinkToken provides auniversal standard for value, allowing the platform to be moreeasily adopted across borders and economies.

“By creating an immutable list of records on workers taken froma wide variety of different sources, it helps employers and hiringmanagers quickly obtain accurate information on all aspects of anapplicant,” EchoLink writes. “This speeds up the hiring process andminimizes the chance that an employee will be selected withoutundergoing full vetting.”