Salesforce Blockchain is a low-code platform which can help organizations to collaborate more efficiently, securely and share data across third parties.
This streamlines how transactions and documents are created and exchanged.
These days, companies have boundary around every source of data. So, its complex and costly to share information.
But with Salesforce blockchain, you can create a very secure network to quickly share the genuine data.
A blockchain is a new kind of database. Its secure and tamperproof and instead of being centrally managed, its distributed among multiple parties. Each party have their own copy of database, and the data is traceable for easy auditing.
When everyone has visibility into the same data, it builds trust in the network and this helps companies come together to deliver better customer experiences.
For Example 1:
A clothing company with a complex supply chain -
Their customers want assurances about ethical sourcing and product authenticity and with salesforce blockchain, the company can create a trust network for their entire supply chain, adding every cotton grower and fabric factory.
Here blockchain gives them visibility into each step along the way, so its quicker and easier to trace a product back to its source, confirm ethical labor practices, and hence increase customer trust.
For Example 2:
A university can use salesforce blockchain to create a lifelong learner profile for each student that's shared across a network of schools. As a student progresses, her transcripts and degrees are published to the network in real time, making it simple to transfer colleges.
And after graduating, she can easily show her learner profile to a potential employer, which confirms her entire education history.
Some other use cases:
Buying a house: Here blockchain can help simplify the document transfers between the appraiser, inspector, real estate agents, title company, bank, county, buyer, and seller.
Filing a car insurance claim: Here blockchain can help in the flow of communications between your insurance company, the other driver’s insurance company, claim’s adjuster, auto body shop, and tow shop.
Transferring colleges: Here blockchain can authenticate courses and transcripts from high schools, colleges, and universities making the transfer process for students within schools and colleges much easier.
Building a blockchain usually requires lot of code. But with Salesforce blockchain, you can do it with clicks. Just start by defining the rules for your trust network. Then pick the data you want to share. Invite your partners, setting permissions for who can see and do what on the network and they can all connect using salesforce or any app of their choice.
So, admins will be able to build trusted networks using blockchain which is made up of blocks and linked together using cryptography.
You can even send notifications, automate actions, and trigger flows using flow builder which can help you to collaborate in new ways and keep your customers at the center of your business.
Salesforce Blockchain is powered by Lightning so customers can build and maintain blockchain apps, networks, and flows that are directly connected to customer records within Salesforce.
Salesforce Blockchain was introduced in 2019 and I have shared an overview here. Currently, this has more capabilities than I have mentioned.
If you are interested about the blockchain technology and how this work, you can visit the links mentioned.
References:
https://trailhead.salesforce.com/content/learn/modules/salesforce-blockchain-basics
https://developer.salesforce.com/blogs/2019/05/introducing-salesforce-blockchain
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