What you should know about background verifications using blockchain

Could blockchain revolutionize credential verifications? We’ve all been hearing the term blockchain trending in different industries, but do you know what it is? A blockchain is a growing list of records or data, called blocks, each of these blocks is secured and bound to each other using cryptography. This data is immutable and can’t be tampered with. The network is managed by a cluster of computers, not owned by a single entity, making it decentralized.

We all know that lies in CVs are common and are often a problem that companies don’t know how to deal with. Blockchain is incorruptible, meaning if we see a verification has been done using this technology we know immediately we can trust it.

There are lots of people that could benefit from background verifications using blockchain, HR departments and background screening companies are one of the parties that could get the most out of this.

Some advantages for those using blockchain include:

• Reduction of time in performing or getting a verification, because the information is instantly verifiable and accessible,
• Credibility and trust of the data because of the safety and immutability of the chain
• Reduction in human labor costs because this technology automates processes, meaning they would need fewer people verifying the data.

There are different use cases for blockchain in background verifications, it can be used for verifying education diplomas, past employment, nationality or many other pieces of data in an efficient and trustworthy way. Several educational institutions, companies, and governments are starting to be pioneers in using this technology.

In the United States, the Illinois Blockchain Initiative tested a blockchain-based birth registry pilot, to investigate a secure, self-sovereign identity for Illinois citizens. All of this is to build trust and to let individuals have their data digitally verified. For the same objective, ECPI university, for example, is already offering verification of degrees on the blockchain. With this students can prove that their diploma is valid without having to contact the University.

In this graph, we can see that after financial applications, identity is the second most attractive application of blockchain technology.

Background screening companies and HR departments should be aware of the positive impact this technology can bring to them when they need to verify credentials, and start to consider ways to apply it in their activities.

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