Andrew Scott speaks with Sylvain Rochon on CykoMetrix about the use of blockchain technology and its uses to streamline the modern workforce.
Blockchain, and more broadly, distributed ledger technology, is a method of immutably recording a transaction or event. It cannot be changed or altered in any way. So it allows you to conduct digital transactions while keeping a record of the transaction that can be traced and is effectively a true transaction. As if you were handing someone a piece of paper, but this time it's a digital piece of paper that also transfers ownership of that piece of paper.
Andrew talks about the most significant changes in business today, and that most companies will own a set of data about their employees, whether it's in an HR information system, a learning management system, or any of their corporate systems. He further discusses what Vela Digital and Vela Solutions is aiming to achieve by giving the individual back control and ownership of their data.