Indian Tech Firm CSM Unveils Blockchain-Powered Employee Verification System
Indian IT consulting company CSM Tech, which has a big foothold in Africa, North America, and Dubai, has made a blockchain-based system for checking employee records. “ProofChain” is a one-of-a-kind, unchangeable, and tamper-proof solution that lets third-party verifiers check the work experience of people who have worked for CSM Technologies in any of the company’s working sites.
CSM Tech is the first company to launch this blockchain-based employee licensing system. This comes at a time when more and more people in the IT field are using fake credentials, like college credentials and work experiences, to get job offers from good companies. A few months ago, Accenture, a top IT consulting company, fired a lot of workers who had made up their work history evaluations. This is called “Involuntary Attrition,” which is just a fancy way of saying “fired.”
Background checks on candidates are hard and time-consuming, so IT companies usually hire outside services to do them. IT companies usually sign people first and then check their credentials. This is because there is a lack of talent and they are afraid that skilled digital talent will go work for a rival.
CSM Tech has made a process that makes it easier to check out candidates’ past, especially their work histories. HyperLedger Fabric, which is an open-source blockchain technology, was used to build the system. Since blockchain technology backs up the employee identification system, employee data and records cannot be changed or messed with. The job records and other papers of about 3,500 past employees have been moved to the blockchain platform.
This method gives the third-party verifiers a username and password so they can log in. CSM Tech’s Human Resources department decides whether or not to say yes to a request from a third-party auditor. The process will take anywhere from 7 to 15 days.
Priyadarshi Nanu Pany, the founder and CEO of CSM Tech, said this about the project: “We are excited to use this new way to check employee IDs. Blockchain is the best way to protect data and make sure that records are correct. With this blockchain-enabled system, I’m sure that not only will we speed up the process of authenticating employees, but we’ll also set a new standard for IT companies to use blockchain platforms on a large scale to hire confirmed talent.
The ProofChain system has been added to the ERP system at CSM Tech. So far, more than 100 requests to check employee records have been sent to the website that uses blockchain. On the CSM ProofChain platform, third-party firms have done proof work for well-known IT employers like TCS, Infosys, MindTree, Accenture, and IBM. The ProofChain method from CSM will make hiring teams’ jobs a lot easier. Right now, recruiters get around the proof process to meet targets. Research shows that 48% of HR workers don’t check a candidate’s skills because they don’t have enough time or money to do so.
CSM Tech wants to make its employee verification method more widely used in the future. This would allow employers to find bright people for less money and in less time, without the hassles of human identification. Any blockchain-based employee verification software would need the backing of many partners who are ready to provide qualifications and endorsements. It would also need to be able to work across organizations, different industries, and different job roles in order to be widely used.