Customer relationship management (CRM) is an application software that helps companies manage customer relationships. Additionally, it provides interactions and helps in business development. However, CRM exhibits security concerns, i.e., data privacy and trustability. Moreover, Salesforce, a cloud-based software company, started using blockchain solutions to address this problem. The company came up with the salesforce blockchain which has created several successful projects. Consequently, this new platform opens the gateway for many opportunities for businesses. In this article, you will learn more about this incredible technology.
What is Salesforce Blockchain
Salesforce blockchain is a distributed ledger infrastructure that facilitates user application and Salesforce services. Also, it provides an innovative way to create, secure, and share data from an application with a network of partners. It is developed on open-source Hyperledger sawtooth technology and customized for salesforce lightning. Moreover, this platform allows the organization to build smart contracts, decentralized apps, and networks to share verified data. Salesforce users can see and work with blockchain data.
One of the most valuable propositions of this integration is the simplicity level. It simplifies building a secure network and establishing actual authentication protocols. Additionally, it lowers the technological complexity of creating trusted partner networks. Moreover, it enables the enterprise to bring together authenticated distributed data and CRM processes. The platform’s services allow individuals to focus on application logic rather than the infrastructure.
Core Components of Salesforce Blockchain
Hyperledger Sawtooth is an open-source platform for developing, deploying, and running distributed ledgers. It uses a novel consensus mechanism named Proof of Elapsed Time (PoET). This mechanism is ideal for distributed validators with minimal resource use.
Salesforce blockchain features a smart contract application programming interface. This interface allows firms to develop business models with reliability and automation. Ultimately, a smart contract automates execution that is transparent to all partners.
The main pillars of this platform are the following:
Blockchain Builder
It is a set of tools for creating salesforce blockchain applications known as a decentralized app(dApp). Moreover, it enables developers and admins to create a blockchain app, add partners, and set up a node infrastructure. Additionally, the blockchain builder features an API for programmatic application setup.
Blockchain Connect
Blockchain Connect links the blockchain with salesforce apps. So, it gives the service of data synchronization. It permits users to display objects and fields from the blockchain on record pages in custom applications.
Blockchain Engage
It is a component that aids in distributing the salesforce blockchain applications. It gives read-and-write access rights to clients in a safe and secure network.
Consensus Mechanism
Like other blockchain networks, it provides several consensus protocols. Besides, it allows the network to decide which process works best per their requirements.
Hyperledger Sawtooth
Hyperledger Sawtooth is a blockchain-based protocol for the building of the salesforce blockchain. Additionally, Sawtooth makes smart contracts safe and efficient for enterprise purposes for the distributed ledger (DTL) solution.
Smart Contracts APIs
Smart contracts provide businesses to grow new business models with trust and automation. Moreover, APIs permit blockchain developers to build and deploy a set of businesses.
Also, Read: Emerging Use Cases of Smart Contracts on Blockchain Technology
Benefits of Salesforce Blockchain Application Development
It promotes low development complexity. It also offers many benefits for CRM. Here is a listing of the benefits of the platform.
Improved Connectivity
It offers enhanced and uninterrupted connectivity with customers.
Data Automation
The platform empowers users to respond to blockchain data insights with Salesforce integration. Thus it increases the ability to sustain technical breaches.
Precise Tracking
Blockchain precisely allows the salesforce to track customers' interests and purchase orders. It engages customers with attractive offers for frequent purchases.
Easy Network Building
Salesforce Blockchain facilitates maintaining and building blockchain applications, networks, and smart contracts. Thus they are unique and specific to business needs. The platform uses low code, an original feature of other salesforce apps. So users can create and share blockchain projects with a process similar to any customer relationship management object.
Extensive Insights
Modern technology provides immense insights with precise data analytics for business management and customer satisfaction benefits.
Salesforce Blockchain Applications in CRM
Salesforce blockchain is a quick way to build trusted affiliate networks. Its metadata capabilities enhance CRM performance and offer a distributed ledger infrastructure.
Companies can speed up their business by combining CRM workflow with blockchain. It makes it easier to create new business processes and models that ample sales, service, and marketing. Every member of the blockchain network can check and verify every transaction. So blockchain changes outdated process and completely rebuild them.
Also, Read: Blockchain P2P Lending Platforms | Revolutionizing Lending
Conclusion
Salesforce blockchain is a low-code blockchain platform linked with CRM. It enables firms to create trusted networks and securely interact with each other. Essentially, it made the entire process of managing data and connectivity simple and efficient. This platform empowers companies to bring together authenticated distributed data and CRM processes. It permits users to build and maintain networks, apps, and smart contracts. Also, users can make and share blockchain objects and layer blockchain data on top of existing sales, services, and marketing flow. That is the form of search queries and process automation. If you also want to streamline your business, implement salesforce blockchain into your business. Our blockchain development experts can navigate your business through its entire implementation process.