Blockchain in HRM:Application and Future Perspective

Abstract

To effectively perform some of the basic HR activities, HR professionals are equipping themselves with cutting-edge technologies. HR staff deal with some of the financial transactions with the highest volume in a business. Utilizing blockchain technology can help stop internal and external hacks of private data. We looked at articles from the Scopus and Web of Science databases that were published between 2018 and 2022. Literature review shows that as more companies suffer from data breaches, it is critical that steps be taken to prevent fraud and maintain security. Blockchain technology may be used to help a void internal and external hack of private data. For aerospace and defense firms, Lockheed Martin employs it for risk management and software security. The use of blockchain technology offers the ability to automate many manual procedures and speed up processing.