Eight Major Benefits of Salesforce Blockchain with a Real Life Example

Blockchain is gaining momentum in the world of technology due to its decentralised ecosystem and real-time tracking of various transactions. Recognising these qualities, Salesforce- the leader in the cloud-based CRM system has introduced Salesforce Blockchain to help clients work in a secured and transparent ecosystem and create strong Blockchain applications through easy point and click steps. The strong linking capabilities of Blockchain will significantly improve client or partner communication.

The private Blockchain has a high throughput of transactions, and it also uses an agile consensus algorithm which speeds up the processes. Powerful integration is another feature that plays an asset. Regardless of their proprietary technologies, several different businesses can now run Salesforce Einstein AI insight with seamless integration. On the one hand, the AI will automate the tasks, and on the other, the Blockchain will maintain accuracy and improves the process of search queries execution.

The overview of Salesforce Blockchain

Built on top of Hyperledger Sawtooth Blockchain technology, the Salesforce Blockchain allows clients to use the Blockchain power to execute CRM applications, contracts, and workflows- without any coding.

Salesforce Blockchain offers secured distributed log infrastructure that seamlessly blends the salesforce metadata qualities. It allows companies and professionals to easily build, protect and share the Salesforce AppExchange data within a secured company network.

How will Salesforce Blockchain benefit the users?

Through Salesforce Blockchain, the users can check and utilise Blockchain data in different areas like analytics, automation, and other operational areas depending upon the need. It turns typical record information into actionable data and deeper insights.

Salesforce is also creating the Salesforce Trailhead developer education platform to make things even simpler by providing professional direction. The modules will assist the clients, partners, and employees who use different models to work with Einstein-based platforms. The platform will enhance the salesforce ecosystem and introduce unique features that can later be created into Einstein.

As you now have the introductory knowledge about Salesforce Blockchain, we can now move forward to its benefits:

What are some significant salesforce elements of Blockchain?

Here are a few key elements of Salesforce Blockchain along with their benefits/uses:

·     Blockchain builder to develop Salesforce-based Blockchain applications for facilitating the creation of Blockchain app and enable admins/developers, building node infrastructure and adding partners. It also has an easy API to enable programmatic application setup with a relatively more straightforward process.

·     Blockchain Connect for linking the Blockchain with Salesforce apps and sync the data. It helps Blockchain-associated fields and objects to show on various record pages in the community, lightning, and other tailored applications.

·     Blockchain Engage for enabling Salesforce Blockchain applications sharing and offering read/write access controls to the partners in a well-secured ecosystem.

Better CRM operations

As a managed Blockchain platform, the salesforce Blockchain delivers unique CRM benefits by facilitating low development complexity to simplify data automation, network establishment, and improved partner interaction.

Data decentralisation to minimise discrepancies

Data decentralisation- the critical aspect of Blockchain, will facilitate the instant access of detailed data copy to the specific client nodes to minimise discrepancies and speed up the workflows.

 With a few clicks and zero codings, the enterprises can implement and monitor the smart contracts, workflows, application & processes, and Blockchain systems. It will take the complexity out of the process.

Seamless integration and AI: Can be used with different existing technology

The private Blockchain has a high throughput of transactions, and it also uses an agile consensus algorithm which speeds up the processes. Powerful integration is another feature that plays an asset. Regardless of their proprietary technologies, several different businesses can now run Salesforce Einstein AI insight with seamless integration. On the one hand, the AI will automate the tasks, and on the other, the Blockchain will maintain accuracy and improves the process of search queries execution.

Create unique Blockchain networks with minimum efforts

With the low-code capabilities of Salesforce, one can build and manage unique Blockchain networks, smart contracts, and applications with fewer efforts and better efficiency. It simplifies and compresses the complicated coding process into several clicks and straightforward steps with zero guesswork. So, you can now manage the Blockchain processes in a similar way to CRM data objects.

Turn typical data into dynamic, actionable information

The native Salesforce integration turns your Blockchain data into actionable information. You can now easily superimpose intricate Blockchain data over your present marketing, sales, or customer service workflow (process automation, search queries, etc.) without any complicated technical process. To make things even more convenient, you can use Einstein-based AI algorithms for seamless Blockchain data integration into market predictions, sales forecasting, and other key aspects influencing the customer or revenue life-cycle.

Build trusted networks with your partners (without inconvenience)

Businesses want to create trusted networks during third-party transactions/interactions without causing any inconvenience to the partners. Due to the flexible underlying architecture and seamless compatibility, the companies can almost instantaneously pull in the functional blockchains, readymade apps, or APIs and incorporate them into Salesforce. It helps form an intuitive interaction ecosystem where third parties can effortlessly be added to your Blockchain with simple yet secure authentication. In simple words, you can build trusted networks with a few clicks and without causing any inconvenience to your partners.

Streamlined processes and detailed insights

Salesforce offers native integration features to help people extract relevant insights from Blockchain data by logically linking it with their marketing and sales processes. It promotes transparency and standardisation. It also facilitates tracking by keeping the disparate elements closely connected.

By stringing all the client transactions/communications in the same thread in an ordered format, the Blockchain helps in making the conversation more meaningful and well-aligned with the interests of business and clients, which translates to the successful closing of leads, precisely satisfying the customer queries and increase the ticket size by shaping your conversation as per projected demands of the clients. 

A simple example for Salesforce Blockchain for beginners

Here is a simple example of how Salesforce Blockchain might be implemented in real-life cases:

Challenge

For example, perishable goods and pharmaceutical supply chain needs to store and move goods within the recommended temperature range to preserve them until they receive the delivery. It demands 360-degree monitoring capabilities to prevent in-transit loss or spoiling due to fluctuating temperature ranges during transportation. Current tracking systems don’t possess sufficient capabilities to meet this demand.

Solution

All the physical elements of the logistics ecosystem are translated into digital elements on the Blockchain network, which makes tracking more feasible and more accessible. Blockchain language can be termed tokenisation of physical assets, enabling real-time tracking of exact points where assets were removed or trans-loaded before reaching the final point of delivery.

The consistent tracking features of Blockchain help customers to efficiently track the entire course of product delivery from the point of loading to the point of delivery.

Outcome/Benefits

Blockchain can effectively minimise the inconsistencies and discrepancies in logistics supply monitoring by using distributed ledger technology that maximises consistent transparency. It streamlines multiple processes and facilitates clear product visibility throughout the entire supply chain transfer process.

Conclusion

Salesforce Blockchain combines the powers of Blockchain and Salesforce to provide additional security and transparency benefits to the users. It allows uses to manage their CRM systems more efficiently, prevent in-transit discrepancies during logistics delivery and build trusted networks while interacting with their employees, clients or partners. When used wisely, it can significantly improve the overall productivity and revenue by minimising dependencies, speeding up workflows, improving the tracking process and enhancing custom relationship management.

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