Salesforce Blockchain for Business

Blockchains are essentially very important for businesses because they record, share and verify information across a network of computers. Once data is stored in blockchains it is very hard to alter or delete that data. Data is distributed across a network of computers (nodes) so, if anyone tries to tamper with the nodes, it is immediately noticeable. This eliminates or reduces threats from hackers. Traditional Blockchains are no doubt very powerful and secure, they can often struggle with multi-party interactions, data silos and the requirement to verify information immediately.  This is where Salesforce Blockchain Technology comes in. It offers a highly secure and decentralized way to record and secure shared data.  

What is Salesforce Blockchain Technology?

Just like most Salesforce platforms, Salesforce Blockchain is a low-code platform that empowers businesses to build, manage and extend blockchain networks directly within the Salesforce ecosystem. Salesforce enables organizations to create trusted networks by bringing decentralized, fixed ledger technology. Salesforce Blockchain is built on Hyperledger Sawtooth, which is an open-source blockchain technology. Salesforce makes blockchain development accessible to a wider range of businesses because of its low-cut tool. 

Why is Salesforce Blockchain important for business?

There are plenty of reasons why Salesforce Blockchain is important for your business. Let us look at some of the reasons:

✓ Enhanced Data Security

Blockchain’s immutability causes once recorded data to not be able to change, alter or delete without detection. This results in a tamper-proof audit trail, boosting data security and fairness. Security for sensitive information like customer data, financial records and supply chain movement is also increased as a result. Salesforce Blockchain codes and data is encrypted, which means unauthorized users cannot access or modify the information. 

✓ Increased Transparency and Trust

Salesforce Blockchain is built on open-source blockchain technologies that provides a fixed ledger that can be accessed in real-time by authorized participants. This reduces the risk of inconsistency and increases trust. This also provides a centre for all shared data. Industries and businesses with different departments can build trust and confidence with Salesforce Blockchain. 

✓ Improving Operational Efficiency

Salesforce Blockchain enhances smooth and secure data flow between parties. This in turn reduces manual workload and delays. The shared, immutable ledger reduces the need for a rechecking process between networks. This saves time and resources and reduces human intervention. 

✓ Low-Code Development

It is easier to build and manage blockchains with Salesforce Blockchain’s low-code interface. It simplifies blockchain development without extensive coding expertise. This makes it more accessible for businesses to use the power of Blockchain technology to improve and enhance operations and create new opportunities. 

Difference in Salesforce Blockchain and Traditional Blockchain

One of the main differences between Traditional and Salesforce Blockchains in their Network Type. Traditional Blockchains are public and the participants are often anonymous. Anyone can join the network and view the transactions. Salesforce Blockchain, however, are private and require permission to join and interact. 

Traditional Blockchain is not for one particular platform but rather a broader technology used for various applications beyond CRM. Salesforce Blockchain is specially designed for the Salesforce platform and its customers. 

Traditional Blockchains also have a more complex development process as compared to Salesforce Blockchain’s low-code development process. 

Utilizing Salesforce’s existing encryption capabilities, Salesforce Blockchains allow for a higher privacy within the network as compared to Traditional Blockchain. 

Conclusion

Why is Salesforce Blockchain such a big deal for business? Well, for starters, your data is extremely secure once it is on the blockchain. The data is hard to get tampered without anyone knowing. This results in a massive amount of transparency and trust. Salesforce Blockchain functions on the Salesforce Platform and everyone who is authorized gets to see the unchanged ledger in real-time. 

Salesforce Blockchain saves your time, money and improves your organizational efficiency. It is also Low-Code development which means it is easier to develop and you don’t always need a professional. Salesforce Blockchain is a crucial tool for increasing transparency, streamlining operations and unlocking new opportunities in the digital economy.