Unfortunately, the human resources (HR) industry is slow, inefficient, and too often, ineffective. One of the biggest functions of human resources is assisting with the hiring process. And when hiring, companies must make sure that the person who applies is being honest about their identity. If the company makes a mistake and hires a felon, for example, they could be opening themselves up to legal liability. HR departments typically handle background checks or outsource them to other firms that do. The problem is that background checks take a significant amount of time and resources. They are often expensive, and companies that perform them themselves typically do so at a loss. The 4th Pillar will change that, by making a verified identity accessible on the blockchain. Companies will be able to save money and time and reinvest the resources saved back into the business.
Building A Verified Identity
The establishment of a verified identity is one of the biggest draws to the 4th Pillar platform. Most HR departments know how time-consuming and tedious it is to run a background check on a prospective employee. The 4th Pillar allows these individuals to share their verified identity and work history with their prospective employer, saving everyone involved time and money. Right now, the recruitment process for new employees is cumbersome and difficult. But this doesn’t have to be the case. By making use of the 4th Pillar, employers and employees can change the way that recruitment works. Instead of having to hire outside companies to check on a prospective employee’s identity, the employee can simply share their identity with their recruiter or company management.
Making Work More Efficient
In addition to offering the verified identity feature, the 4th Pillar also allows organizations to send out payments to multiple individuals at once. The organization can also use the platform to distribute sensitive documents. These features might come in handy when the organization is sending out payments to multiple individuals for a project. If the individuals are freelancers who live in different regions of the world, they can still get paid at the same time through the use of the 4th Pillar platform. The sensitive document distribution system is also a strong feature that prevents important documents from being leaked or hacked. The 4th Pillar platform uses blockchain technology in order to make sure that sensitive documents are securely sent and received. This way, only the intended recipient gains access to the content.
The 4th Pillar team has done an amazing job of building campaign awareness (https://bountyhive.io/join/4th%20Pillar). The project is still in its early stages, but if it reaches its full potential, it could disrupt the HR industry and change how we think about verified identity. An identity verified by the blockchain could greatly reduce the number of resources necessary for the hiring and vetting processes. This could allow businesses to take these resources and reinvest them into the company. The 4th Pillar has a real use case for businesses, and that could help drive significant cryptocurrency adoption over time.
Written by: liveheart
BountyHive ID: liveheart