Human Resources Firm Randstad Working On Smart Contract-Based Blockchain Platform
World’s largest human resources firm Randstad is started working on the smart contract-based blockchain platform, reported on 28 February 2020.
Randstad has 40,000 employees who will be using an enterprise blockchain solution from New York-based Cypherium, which is partnered with popular cloud service providers Google Cloud Wing, IBM Cloud, and Amazon Web Services.
Cypherium is basically a hybrid design by combining two consensus mechanisms such as Proof-of-Work (PoW) and HotStuff (which is already used in Facebook’s Libra blockchain). This protocol claimed that it is very scalable as well as provides both privacy and decentralization. A Turing-complete virtual machine which is written in Java programming language is used in order to run the smart contract on the blockchain platform.
As per Randstad company, blockchain is very useful for them as it can reduce a lot of human errors as well as saves much time too especially when it comes to key bureaucratic tasks involved in HR work such as payments, verifying academic and professional qualifications, and personal identity data.
Previously, The New Jersey state of America introduced a state-level licensing scheme to regulate Cryptocurrency firms,
This week, World-famous Hong Kong-based crypto payment service provider company Crypto.com partnered with the popular Travel bookings company Travala.com
