ShiftPixy, a jobs scheduling platform from California, has announced that it will now use the block-chain for their prime case use. This announcement was followed by a 66% rise in the company's share value.
ShiftPixy explained that it is using a private, centralized block-chain ledger for transactions that require verifying sensitive information, including a person’s social security number, date of birth, driver’s license or passport details, bank account information and tax form elections.
It introduced block-chain-based systems believing that employee verification processes are positively impacted by the use of biometric authentication and automatic verification of employment data. This removes human error from the process of screening for fraudulent information, the company states.
Additionally, verification of data on the block-chain allows both employers and auditing agencies to confidently validate additional criteria such as employment dates and a candidate’s background – including his or her education, references, certifications, and other credentials – and share the verification status directly on multiple distributed sources within the block-chain. This further underscores the trust and accuracy of a candidate’s information and corporate compliance, ShiftPixy explained.
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