Just as "bad" customers pose a huge threat to the financial and capital markets, "bad" employees pose a massive threat to employers (companies, Government agencies, organisations). Employers use background checks to make informed placement decisions, retain the most qualified candidates, and mitigate the risk of selecting the wrong candidate. This minimizes workplace violence, fraud, embezzlement, and theft. [Source: National Association of Professional Background Screeners]
An analysis of data compiled by the Reserve Bank of India has revealed that on an average, at least one banker is caught and punished for involvement in fraud every four hours. According to the data, as many as 5,200 officials of public sector banks have been punished for fraud between January 1, 2015 and March 31, 2017. [Source: Outlook India]
Primechain-EMPLOYEE is a blockchain that allows trusted employers to share employee records in a transparent, secure and confidential manner. These records can be used by trusted employers to conduct comprehensive background checks of new employees at a fraction of the current background verification cost. Today, employers spend money on employee background verification. With Primechain-EMPLOYEE, employers can turn this from a cost into a revenue stream.
|Sample application with source code|
|Node on shared blockchain|
|Suitable for intra-organization use (within the organization)|
|Suitable for inter-organization use (shared by multiple organizations)|