IBM will use blockchain technology for job hiring procedures
The intention is to curb the costs of processing invoices generated by casual workers
The technological giant IBM has created a blockchain solution for temporary employment contracts, assuming the task of using blockchain software to curb costs and the time it takes to process invoices generated by casual workers.
The idea was born with the intention of being part of the business management, in the processing of payments to thousands of contractors who are in the search of external workers to provide their technical and commercial services.
According to IBM’s global logistics leader and blockchain efforts, Burton Buffaloe, the working mechanism, between IBM and IBM Blockchain, will consist of automatic tracking of time sheets, purchase orders and other relevant information. In addition, the process is expected to ensure approvals for each of the parties involved while making the automated payment.
Buffaloe said the initiative is set for development under blockchain technology. “One of the biggest problems of all contractor suppliers is the reconciliation of invoices.” The executive added that “blockchain is present where there is friction and discrepancy.”
Regarding billing, the project presented by the Chinese company will be used in November last year called General Framework of DLT-based invoices. Accordingly, it is expected that the drafting, discussion and revision of the invoice standard based on Distributed Accounting Technology will be in charge of the multinational and other Chinese subsidiaries.
K. Villarroel
Source: bitcoin
