Follow us on:

CloseClose

Employee Benefits Magazine - How will blockchain technology impact employee benefits?

By Nic Paton 2 November 2017.

When it comes to understanding blockchain technology and the potential effect it could have on the delivery and management of employee benefits, the industry is some way off of getting to grips with this emerging technology.

The consensus appears to be that people are aware of blockchain, are aware it could ‘somehow’ be transformational but, as yet, have not quite got their heads around how or where. George Zarkadakis, digital leader at Willis Towers Watson, says: “The technology is already available today, and people are using it. But benefits professionals have not really embraced it yet.”

So, what is blockchain technology? And how might it change employee benefits? Blockchain is best known as the technology that helps to power the Bitcoin digital currency, but its potential application goes much further than that. PWC defined it in its report, How blockchain technology could impact HR and the world of work, published in July 2017, as ‘a distributed ledger that allows value to be exchanged securely, transparently and without risk of tampering’.

Please click here to view the full article.

Join now

If you are active in the group risk market and would be interested in gaining a greater share of voice and working more closely with your contemporaries in the industry please get in touch by completing this page.

Benefits of membership:

A STAKE IN POLICY

A STAKE IN POLICY

The opportunity to influence group risk policymaking.

VALUE BY ASSOCIATION

VALUE BY ASSOCIATION

GRiD is a respected voice in the protection sector – as such, membership enhances the status of member organisations.

ACCESS TO EXCLUSIVE INFORMATION

ACCESS TO EXCLUSIVE INFORMATION

Privileged access to output from the various working groups, including consultation responses, regulatory updates, employer research and pan industry claims data. GRiD members also gain exclusive access to industry speakers at member meetings.

Please enter your details:

Member register
  •     Already a member? Please login.