Employee owned ⇒ every person gets their own blockchain that they then can falsify at will, or there’s a single blockchain with items that are encrypted in a way that doesn’t even allow third parties to find out about whom each item is, and also allows individuals to selectively open up each of their individual items (otherwise, it isn’t fully “employee owned”.

The chain likely wouldn’t be more than “an item with secure hash Foo exists. Here it is, encrypted using whatever method its owner deemed acceptable at the time (maybe not even the latter. If I own the data, I should be able to improve its encryption, or remove it altogether)

That has some value; employees wouldn’t be able to retroactively insert stuff, but that’s about it.