It hasn’t been long since Salesforce chairman Marc Benioff first showed an interest in blockchain. Nobody really believed that the company would actually offer a blockchain solution for CRM on their platform. However, a year later Salesforce is indeed surprising us in more than one way. Not only have Salesforce launched their first blockchain product, Salesforce Blockchain, but this product is in fact aimed at developers!
“Salesforce Blockchain, a low-code platform that enables organizations to share verified, distributed data sets across a trusted network of partners and third parties. By bringing blockchain to the world’s #1 CRM platform, companies can create blockchain networks, workflows and apps that deliver entirely new customer experiences. Salesforce Blockchain made its debut today at TrailheaDX, Salesforce’s fourth annual developer conference.”
After conducting 100 interviews with customers, Salesforce found a gap in the CRM they are offering. It was particularly evident with companies working with external partners. What was missing was a trusted environment and a faster way of handling data. Luckily, with technologies like blockchain, the solution is not far away.
According to the interviewed customers, some were already working on finding a blockchain solution for the problem. However, most of them got lost in Proof of Concept stages and were looking for a way to adhere the development process. This is one of the reasons why Salesforce decided to aim their blockchain solution at developers, so their clients could customize their own solutions with Salesforce.
Salesforce focuses on the decentralized nature of blockchain, which can create new business models that would otherwise not exist on Salesforce’s platform:
“We love the idea of extending the CRM with this capability because it really does enable multiple parties to work together in a trusted way and create business models around ecosystems, rather just direct customer relationships,”
Salesforce’s President and CPO, Bret Taylor
What Salesforce created is a low-code blockchain platform that boosts the performance of their CRM. The platform uses the open source technology Hyperledger Sawtooth and is designed for Salesforce Lightning. The new blockchain solution helps for the creation of trusted partner networks. Salesforce Blockchain also allows companies to easily bring together CRM processes and authorized distributed data. Here are some of the other cool features of the new blockchain offerings:
- Creating Networks with Clicks — With the help of Salesforce Blockchain, you can easily create and manage your own blockchain networks, apps, and smart contracts. You don’t even need a developer for the creation and sharing of blockchain objects in the same process as any CRM data object.
- Automating Data with Salesforce Lightning — The Salesforce platform now allows you to easily automate your databases. To do that, you can use AI algorithms inside the blockchain technology to integrate data into sales forecasts, predictions and other relevant data sets.
- Engaging Partners Easily — The entry barriers for third parties such as partners, distributors, and intermediaries are now very low. With the new platform, you can use APIs, pre-built apps and integrate any current blockchains. This allows the users to effortlessly add and communicate with third parties. All you need to do is to give them credentials with a few clicks.
Blockchain technologies for a brighter future
In order to improve their customer service, companies need to be able to share and entrust their stakeholders with great amounts of data. But of course the process is heavy and costly. So, what a better solution than a blockchain platform designed for CRM. Blockchain fills in the gap by administering a distributed ledger that saves, traces and authenticates data across every node in the network in a trustworthy and protected manner.
In addition, blockchain technologies can be used in a variety of industries. Unfortunately, not all of them have still found the best way to use it. Furthermore, it is important to note that Salesforce Blockchain is also still under development. As of today, it is only available to select design partners for now. Hopefully, it will work with full speed some time next year. Meanwhile, you can read more about managing databases in Databases for Beginners – Things You Should Know.