Blockchain: The next level of security for CRM

What is a blockchain?

“Blockchain” is a new modern technology that is emerging today. It is a concept that ensures data security through “cryptography”. This is an ever-growing list of records called blocks that are internally linked, usually containing the cryptographic hash code of the previous block.

“Blockchain is basically an open, distributed digital book that can efficiently and securely record transactions between two parties. It follows a peer-to-peer architecture (decentralized and distributed).”

How Blockchain provides the highest level of security? Or how does it work?

Blockchain can provide the highest level of security, so it is used to store transaction data. It works in such a way that shortly after creating the first block, each neighboring block in the book uses the hash of the previous block to compute its own hash. Before any addition of a new block to the chain, the authenticity and uniqueness must be verified by a computational process. And this process also includes the resolution and confidence of other blocks that the recently added block has been tested. This verification process also ensures that all copies of the distributed book are in the same condition.

Thanks to this mechanism of adding hash code and checks, the newly added block can be referenced in the following blocks, but it cannot be changed. If someone tries to change a block or interfere with it, the hashes of the previous and subsequent blocks will also receive changes and violate the general condition of the book. Whenever this situation occurs, other computers on the network know that a problem has occurred and new chains will not be added to the chain until the problem is resolved. And then the block that causes the error will be discarded and the whole validation process will be repeated.

How can Blockchain benefit CRM?

With CRM software Blockchain can really add exciting data security features (options). Integrating CRM with Blockchain allows an organization to have verified (or verified) records provided by Blockchain technology. especially if CRM is cloud-based.

This means that it can benefit the CRM program by limiting access to tracking data from unwanted sources. Currently, CRM users around the world are facing duplicate or incorrect data issues. Because Blockchain technology stores data in the form of blocks so that it can allow the customer to own a separate block that uniquely presents them and his personal information, related transaction information and other relevant data.

Blockchain restricts duplicate or risky data from interfering with the database, meaning it speeds up CRM processes and ensures customer satisfaction.