TL;DR Breakdown Current background checks are slow and ineffective. The World economic forum argues blockchain could change verification processes. Saudi Aramco cuts verification time by 90%. Contents hide 1 Blockchain background checks could be mainstream 2 The world economic forum 3 Blockchain the solution 4 Up and coming background check Blockchain background checks could be … Read more
- Current background checks are slow and ineffective.
- The World economic forum argues blockchain could change verification processes.
- Saudi Aramco cuts verification time by 90%.
Blockchain background checks could be mainstream
Many companies can spend hours, days, if not weeks searching for the right candidate. It is exhausting looking at application forms, navigating job interviews, and shortlisting candidates only to find out that they are lying to you about their qualifications.
Background checks are necessary for you to verify that people are who they say they are, especially in industries where a lack of experience could put you in danger. Having unskilled employees would also slow down the work considerably if they do not have the right information or know how to work effectively.
The frustrating thing about checking someone’s background is that it can once again be time-consuming.
The world economic forum
The world economic forum (WEF) recognizes how blockchain can transform the world of background checks. On the 18th of November 2020, WEF announced that blockchain could help industries that work with machinery or hazardous chemicals do proper background checks via a blog post.
The forum also pointed out that using blockchain would make the process more efficient, transparent, and secure.
Blockchain the solution
Blockchain is the solution because it can store information effectively and verify whether the information is correct or false based on its stored information. Most blockchains keep data in their blocks.
The fact that blockchain does not have a central player makes it more secure and less penetrable. Blockchains having more than one validator also makes them more secure.
Using blockchain to do background checks is up and coming and could potentially lead to the industry being mainstream. Let’s have a look at a leading innovator making blockchain checks cool.
Up and coming background check
In June 2020, Saudi Aramco launched a blockchain certificate verifier that prevents fraud from occurring. The invention secures genuine certificates on the system so that they are instantly verifiable.
Saudi Aramco’s system also updates in real-time if any applications expire or are revoked. The company would work alongside schools to get a digital version of their pupil’s certificates that the student would have to accept.
Once the student verifies the online certificate, they get a hash function stored on the blockchain. The development has cut the time it takes to verify anything down to 90%.
Verifying documents is such an essential need that most companies have. The fact that blockchain is so secure makes it a useful tool for a variety of functions. In a world where people are wary of fraud and fake news, it is no surprise they are turning to blockchain.
Verifying documents via blockchain is bound to be a hit given how much less time it takes with a blockchain tool as opposed to without it. With companies having to navigate the pandemic and Brexit deal costs, it is only expected that they will look for any excuse to free up more time and focus their energies on being successful.