Hiring managers, meet blockchain. The technology behind cryptocurrencies such as Bitcoin is being used by universities, businesses, and governments around the world to issue and store verifiable digital credentials. Experts say this could mean reduced costs, increased trust, and more automation in hiring.

New York-based Learning Machine is among those pushing the use of the technology in credentialing. The technology company is working with the Massachusetts Institute of Technology, the U.S. Federation of State Medical Boards, and Malta’s Ministry for...