As we move through 2019, more and more companies are delving into blockchain technology, including firms like Ernst & Young, Microsoft, Amazon, IBM, and more. Now, the latest mainstream giant to delve into blockchain technology is the cloud-based software firm, Salesforce.
SalesForce is a world-leading customer relationship management (CRM) platform, and according to a live stream on May 29, the firm has introduced its own blockchain platform dubbed the SalesForce Blockchain.
The firm’s new blockchain product is reportedly built on their very own application builder, Salesforce Lightning, and utilizes open-source blockchain technology by Hyperledger.
The SalesForce Blockchain
The Salesforce Blockchain is reportedly a low-code blockchain platform that provides companies with easy-to-use tools that enable them to build smart contracts, apps, and networks for the sharing of verified data using distributed ledger technology (DLT).
As well, the product features artificial intelligence (AI) algorithms that enable the automation of a number of processes for CRM.
Currently, the Salesforce Blockchain has been rolled out to selected partners and is already being implemented by US-based market intelligence firm S&P Global, advanced analytics firm IQVIA, and Arizona State University. SalesForce expects to release its blockchain platform to the wider public in 2020.
Speaking about an application using the SalesForce Blockchain is Chris Heusler, global chief commercial officer at S&P Global, who said in a statement:
“Leveraging Salesforce Blockchain, S&P Global Ratings has created a trusted network of reviewers, where everyone can work from a shared, transparent and auditable review process — completely reinventing and expediting how we do KYC reviews for our customers.”