Block Chain

Block Chain

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.

How Blockchain Works?

The goal of blockchain is to allow digital information to be recorded and distributed, but not
edited. In this way, a blockchain is the foundation for immutable ledgers, or records of
transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known
as a distributed ledger technology (DLT).

Features of Blockchain

Blockchain technology has the following main features:

Decentralization


Decentralization in blockchain refers to transferring control and decision making from a
centralized entity (individual, organization, or group) to a distributed network. Decentralized
blockchain networks use transparency to reduce the need for trust among participants. These
networks also deter participants from exerting authority or control over one another in ways that
degrade the functionality of the network

Immutability

Immutability means something cannot be changed or altered. No participant can tamper with a
transaction once someone has recorded it to the shared ledger. If a transaction record includes an
error, you must add a new transaction to reverse the mistake, and both transactions are visible to
the network

Consensus

blockchain system establishes rules about participant consent for recording transactions. You
can record new transactions only when the majority of participants in the network give their
consent

Blockchain adoption in Employee Management System

The Employee Management system is built on trust and transparency, and can benefit from its security, data integrity, privacy and transparency. Several companies in the field have already adopted blockchain to experiment on the application of this technology in HR operations. Here’s how blockchain can further enhance Employee Management processes and functions:

Authenticity and reliability through immutable data:

One of blockchain’s characteristics is immutability, meaning, the transactions can’t be changed or deleted. Employee management handles large amounts of employee and financial information that requires not only a high level of security but as well as authenticity and reliability. All employee credentials such as resumes, transcripts, etc. will be stored and validated in the blockchain.

Smart contracts:

Smart contracts will be significantly helpful to contingent workers in the gig economy. Firstly, a smart contract enforces employment agreements, which protects both the employer and worker. Any conditions between both parties are executed immediately since the recorded information cannot be altered. Secondly, it automates payments without any intermediaries, such as banks and wire transfers, that are associated with delays and processing fees

Crypto-based payroll system

Blockchain is popularly associated with crypto currency. While cryptocurrency remains to be a
confusing transaction for many, it is currently prevalent in financial management. With
blockchain adoption in the Employee management process, it’s only inevitable that crypto-based
payments will follow especially with global payroll processing. Cross-border payments through
digital currency transactions are efficient and transparent

Personal blockchains

Employees can take control of their personal and private blockchain that contains their
professional identities. They can decide who can access and use their personal data. Employers
can speed up the screening and onboarding process since all employee information is stored in
the blockchain. Access to data can be removed once the employee leaves the company.
The application of blockchain in business operations is nascent at the moment. The early
adopters of this technology from various industries such as Employee management, insurance,
banking and financial services, supply chain management, and healthcare are still in their
experimental stage through blockchain pilot programs. Statista predicts that global B2B cross-
border transactions on blockchain will increase dramatically over the next few years and will
reach 745 million by 2025.

Online Examination portals :

E-learning has been carried out all over the world and then online examinations have become an important means to check learning effect during the outbreak of COVID-19. Participant authenticity, data integrity, and access control are the assurance to online examination. EnR proposed a novel biometric authentication and blockchain-based online examination portal. The examination data are encrypted to store in a distributed system, which can be obtained only if the user satisfies decryption policy. And the pieces of evidence are recorded in a blockchain network which is jointly established by some credible institutions.

How it works?

Unlike other examination authentication systems, face templates in our scheme are protected using a fuzzy vault and a cryptographic method. Furthermore, educational administrative department can determine who the real initiator of malicious behavior is when a dispute arises using a dispute determination protocol. Analysis shows that no central authority is required in our scheme; the collusion of multiple users cannot obtain more data; even if the authorities compromise, biometric features of each user will not be leaked. Therefore, in terms of privacy- preserving biometric templates, fine-grained access, and dispute resolution, it is superior to the existing schemes. Secure testing browsers and camera monitoring have been used in Enr ‘s Online Examination portal during remote virtual examinations. The system would scan the biometric configuration of a user while the examination.
EnR is a reputed block chain service providers with profound knowledge and experience in developing Secure and scalable decentralized ecosystems with minimized downtime and managing solutions for your organization .