Blockchain is probably the best innovation in the internet technology field since the invention of Google which made every website visible and easy to find on the internet. The impact of blockchain is such that even traditional companies are planning to bring their businesses to blockchain. This is true even when there is no cryptocurrency associated with it.
While blockchains are uttered under the same breath with cryptocurrency, it can be a stand-alone framework itself. In fact, there are several advantages of blockchains, even if we ignore the association with cryptocurrency.
Immutability: Perhaps the biggest advantage of blockchains is their immutability. This simply means it is nearly impossible to hack the data on a blockchain. We say nearly to be politically correct as anything with an input can be hacked but practically, you can ignore the ‘nearly’. This is simply because the data once uploaded on the blockchain cannot be changed. Data can be added later but the original data cannot be edited. Even the uploader cannot delete the data, once it is uploaded on the blockchain. This is exactly why you can still check the first ever Bitcoin transaction made.
Security: As blockchain data is impossible to hack for malicious purposes, the security of the data is increased infinitely. Every security can be breached, over time hackers get more sophisticated hardware and software to penetrate the security. Even the so-called military-grade security is breach-able. We have witnessed too many high profile hacking attacks in last few years to validate this argument. However, as the blockchain data cannot be hacked, it is a great advantage of the protocol. The user just needs to retrieve the data from the chain to access it.
Decentralised data storage: Blockchain spreads the data all over the network and no central server is maintained. This reduces the security risk, compared to the traditional approach. Like we said, even the strongest server can be hacked into but when the data is with thousands of network users, either the hacker needs to hack all of them (which is impossible because it needs to be done simultaneously) or he needs to possess a computing power to overcome the whole network (aka force mining takeover which is again impossible).
Reliability: Blockchains are absolutely reliable because, unless the whole network is failing together, nobody can take down a blockchain. Technically speaking, even one single user can keep the blockchain alive. Considering there are thousands of users and there will be millions and later, billions of users, it is a total impossibility that the complete network goes down. Thus, unless there is a global disaster, the data is safe, forever.
Transparency: Many of us protest against government’s and secret organisation’s secrecy on important issues. The job for Mulder and Scully would have been easier had there been a blockchain since, on a blockchain, everything is visible to everyone. The data on the blockchain can be used or checked by every network user. There are private blockchains with their inherent vulnerabilities, but most blockchains are totally public.
Considering how Qubicles is created to bring openness and democracy to the manpower hiring industry, especially in the contact center industry initially, it was imperative that we use blockchain. We envision a future where the hiring manager from Florida can hurriedly go to Qubicles and find certified, experienced and talented contact center employees from India to help him during the crunch hours he is suddenly facing. To bring that dream to reality, we don’t see any more viable channel than blockchain.
We can build a truly global, truly open and truly democratic workforce and employment solution using the unbeatable advantages of blockchains.