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Centralized monolithic HR technology is no longer fit for purpose. Historically adopting new technologies and adapting practices and protocols proceeded at an evolutionary pace, but HR professionals were forced to deal with strange and new demands of the COVID pandemic at a revolutionary pace. It has been almost two decades since the publication of the first edition of Component-Based Human Resource Information Systems, and there has been minimal progress in terms of universal adoption and implementation of the modular HR concept. The emergence of the Web and Cloud Computing has brought about new delivery methods and subscription business models, but the fundamental architecture of HR technology remains largely unchanged. These legacy systems hold a dominant position in today’s HR technology marketplace, despite being designed almost 20 years ago. 

In the emerging era of Web3, decentralized approaches to systems design will arrive with highly secure, low/no latency peer-to-peer architectures driving the necessary development and rapid deployment of innovative component products. Nonetheless, many companies will persist in resuscitating their aging legacy systems, hoping that augmentation with Artificial Intelligence (AI) and fragile Application Programming Interfaces (APIs) will extend the lifespan of their systems without changing core programs. But unlike prior generations of layered architectures where software applications and relational databases ran atop specific operating systems on proprietary hardware solutions, Web3 architecture is defined in the software, eviscerating the conventional software upgrade path commonly known as "patching.” 

More than a decade of extensive work involving experimentation, largely unregulated until recently, in finance technology FinTech) and specifically in decentralized finance (DeFi) garnered most attention. This new edition on HR Technology continues the challenge from the first at HR technology modernization. The authors break down a traditional Human Resource system into micro components and propose a technology solution for the Human Resource domain, using emerging open yet stable products and use cases that have been assessed and found fit for purpose in decentralized human resources (DeHR). Despite taking a vertical approach with HR in this book, the research background and proposed solutions would be applicable to all areas of an enterprise. 

The advocated technology solution is component-based software (CBS), which aligns well with the dynamic nature of HR processes. CBS enables the interchangeability of components, providing agility and flexibility in response to change and process variations. Moreover, CBS dispels the antiquated notion that "one size fits all” for every HR practice that required companies to change their HR processes to match a software vendor’s idea of best practice. 

Component-based technology represents a significant breakthrough in application software design, offering measurable benefits; however, there are notable barriers. In the past, middleware technology was rigid and proprietary, requiring adherence to specific models like CORBA, EJB, or COM. The advent of Web Services and SOA revolutionized the landscape, allowing objects to be deployed across an open ubiquitous layer, free from constraints and costly infrastructure investments and has laid a platform for global network connectivity. 

HR Technology in the Web3 Era, as a vendor-agnostic book, continues to challenge commercial and technical barriers that hinder adoption of this emerging approach to software development and deployment. It also emphasizes the need for a mindset shift in how HR software needs are specified and products are purchased. Continued resistance to change is expected, particularly from those heavily invested in existing HR technology products. However, there are also proponents who recognize the benefits that change can bring. The acceptance of the component-based solutions by the “critical mass" among HR software buyers will also drive an emerging quantum transformation. Commercial advantages will determine the pace of change but convincing the masses will require patience and persistence from those advocating HR for all its competitive advantages.

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