Over the last couple of years, we have seen a huge transformation in terms of blockchain arrangements and norms, making it a wonderful technology for the future. The major thing to note about blockchain is that it is driven by the increasing enterprise demands for more transparency, improving productivity, and the need for better-coordinated efforts in the technology spectrum.
Concentrated more on development now with the latest DX platform, Salesforce also now joins the world of blockchain technology to improve the involvement of production networks for their clients, incorporate cloud technology, implementing automation, and also to satisfy the needs of the end customers.
Salesforce always remained a dependable solution by looking forward to gel up with the next big technological innovations. Regardless of whether it is related to mobile, internet, social, AI, or machine learning, Salesforce always strives to live it up to the mark.
In an interview with the Business Insider, the founders of Salesforce Marc Benioff, as well as Parker Harris, reveled their scope of integrating with the next hottest advancements in the technology spectrum, the blockchain. Considering this, we will discuss further the scope of Blockchain integration to Salesforce. Before that, let’s have an overview of what blockchain is all about.
What is blockchain?
As per the definition, blockchain is primarily an every-growing list of interconnected records, which are primarily referred to as blocks linked to each other with cryptography. The idea of blockchain technology was fist depicted back in 1991 by W. Scott Stornetta and Stuart Haber. However, it got into limelight only recently after the introduction of Bitcoin.
A typical blockchain structure, as suggested by Flosum.com, has many nodes that are called blocks. Each of these square blocks contains its own hash and the hash of the past square with a timestamp and data. Handling blockchain is not simple. If any square gets tainted, then the entire chain may get adulterated. At its primary level, a blockchain is basically a database. The distinctive qualities include the adamant nature of the exchanges of blockchains and the model of its decentralized control.
As we can see, decentralization of control is a key element as far as data security is concerned. In the case of conventional databases, there could be one association that controls the ace info. On the other hand, in blockchain or otherwise called dispersed records, all associations hold equivalent capacity in order to compose and pursue the master data.
As discussed above, blockchain technology got largely promoted back in 2009 when the digital currency of Bitcoin was introduced. Again in 2014, it better summed up with the introduction of the open-source Ethereum. Both of these innovations were primarily dependant on an enormous, but the unknown system by ensuring the security of the whole process, which made blockchain as an appropriate monetary instrument in order to support the user interests.
Blockchain concept in light of Salesforce administration
In blockchain systems, a single Block is more or less like a connected list but with a bigger multifaceted structure. Information from one square could create the square’s hash. Given this, it becomes easy to create the hash from the given information. In order to counteract this activity, the block may also contain a hash from past square too. So, the information is contacted along these lines.
If anyone tries to hack blockchain, then programmers just need to refresh the squares. However, it’s not so straightforward, and there are possibilities of devouring too. In the case of Bitcoin, each of these squares could be refreshed in 10 minutes. So, it may take the whole life for an individual to change each and every square. This makes the data more secure. Let’s explore some specific features when it comes to blockchain integration to Salesforce.
Enhanced data security in CRM
This is the point where an organization gets benefited the most from blockchain innovations clubbed with Salesforce. This is a huge leap in terms of utilization of the cloud arrangement, and data security is becoming more and important to enterprises in light of many recent stories of data leaks and breaches.
Compared to all existing models of data security and effective data management, blockchain is noted to have a significant edge. Combined with the most innovative data management approach of Salesforce, you can expect the blockchain to bring in significant changes in data-driven business administration and customer relationship management in the future.
Getting enterprises closer to potential customers
Blockchain will give an end-to-end outline to the business administrators about the clients and prospects by further breaking down their requests and ultimately choosing when and where to convey their business assets. This is one major reason for applying the blockchain innovation inside the CRM, which could further support the aspects of consumer loyalty as well as the scope to closely communicate, which will help the marketers an easy apparatus to deal with the business procedures in a customer-friendly manner.
Improving customer experience
This is the blockchain advantage through which you can guarantee information security for the customer and effective ways to deal with customer experience in case of businesses. Beside this baseline activity, you could also:
- Use a very secured and clear customer database in order to initiate client loyalty programs.
- It becomes much easier to manage customer rewards.
- You can secure customer wallets and also help build trust.
- Guard mobile applications against any assaults using blockchain’s security features.
Further to these, Salesforce CRM clubbed with blockchain techniques could also expand the speed of customer management and business administration alongside increasing security. Moreover, you could also see that this bled of security and speed makes the business systems more agile and strong.
As of late, we are seeing a lot of buzz around blockchain and can see that most of the online and offline technology journals and projects dealing with NodeJS. In fact, what really thinks about it now is much lesser than what could actually be expected in the future. Whatever it could be, it is the user’s enthusiasm to be on Salesforce, making it possible for the CRM to experiment with all new innovations and run programs like blockchain in its peak.