Blockchain is a landmark innovation in technology that can boost our business by reducing the costs and risks associated with general business processes. It is very reliable and secured, and organizations can surely benefit to a great extent by use of this technology.<\/p>\n
Oracle believed in this reliable extended business process and initiated to accelerate their B2B transaction. It provides a \u201cpre-assembled platform for building and running smart contracts and maintaining a tamper-proof distributed ledger\u201d. Oracle Blockchain Platform allows speedy business transactions and avoids third parties interference in business transaction.\u00a0 Oracle manages the industry\u2019s most comprehensive Blockchain cloud platform.<\/p>\n
Salient features of Oracle Blockchain:<\/strong> \u2013 It rapidly integrates Oracle SaaS, on premise application and third party application using Oracle Integrated Cloud.<\/p>\n \u2013 It is having an enhanced Security services, certificate revocation management and also role based identity management.<\/p>\n \u2013 From Administration and Operation, Security monitoring and management, Availability and maintenance everything is Automated.<\/p>\n \u2013 Oracle expertise in Blockchain and having a deep domain industry experience for implementing a new Blockchain solution or integrating in existing application.<\/p>\n Key benefits for organizations adopting Blockchain:<\/strong><\/p>\n \u2013 Drive new innovation<\/p>\n \u2013 Accelerate business<\/p>\n \u2013 Reduce costs and risks<\/p>\n \u201cThere are problems with our recruitment of different types of workers. These include prejudice and bias, lack of visibility of available workers, low levels of trust in centralized social networks, spam and high fees to intermediaries. We now have the opportunity to build the next generation work platforms enabled by technology such as artificial intelligence, mobile and blockchain.\u201d-\u00a0 Andrew Spence, HR Transformation Director Glass Bead Consulting.<\/p><\/blockquote>\n The impact of Blockchain in HR management is increasing and is leading to growth of various human resource functionalities. Some of the examples are provided below:<\/p>\n \u2013<\/em>Recruitment\u00a0<\/strong>is a time consuming and costly affair in most of the organizations.. With adoption of Blockchain, information of most candidates sourced during the recruitment time period can be viewed on the Blockchain, where the processes are streamlined, resulting in easy verification and visibility.<\/p>\n \u2013Verification\u00a0<\/strong>of every individual\u2019s identity, background, and work experience became easy and time saving for the user of Blockchain because the data comes from trusted sources. Further, the HR instead gets lot of time to focus on the productivity and strategies of the organization.<\/p>\n \u2013Smart Contract\u00a0<\/strong>among the employers and workforce will make the workers paid instantly without and risk of delay or fraud.<\/p>\n \u2013Secured Transaction<\/strong>\u00a0is possible with Blockchain as it enables lesser risk from exchange of personal details, work history, financial records and it is very difficult to tamper it and leads to lesser claims of security or data breaches.<\/p>\n Kovaion, an HR transformation company, is looking forward to this splendid technology of Blockchain, especially on its HR management benefits and its impact in current market. Kovaion is planning to adopt and provide such services to the customers at the soonest.<\/p>\n
\n\u2013 Open source technology- Oracle Blockchain is built on Hyper ledger fabric software and is accessible from on premises.<\/p>\n