Blockchain technology provides a decentralized and secure ledger that gives participating parties a way to validate information related to a transaction. One HR area blockchain can be implemented is in payroll, particularly in a global organization.
For example, long-term inefficiencies of overseas payroll payments can add up. Currency volatility could have an immediate effect on both employers and employees. Hourly changes in exchange rates are routinely taken advantage of by intermediaries. An international payroll blockchain solution may offer a faster solution than existing models.