Blockchain: The next level of CRM security

What is a blockchain?

‘Blockchain’ is the latest trending technology that is emerging nowadays. This is an idea that ensures data security using ‘cryptography’. This is a list of constantly evolving records called blocks, which are usually connected to each other internally by containing a cryptographic hash code of the previous block.

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

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

Blockchain can provide the highest level of security so it has been used to store transactional information. It works in such a way that as soon as the first block is created, each adjacent block of the laser uses the hash of the previous block to calculate its own hash. Before adding a new block to the chain, authenticity and uniqueness must be verified by a computational process. And this process also includes the permission and assurance of other blocks that the newly added blocks have been verified. This process of validation ensures that all copies of the distributed account share the same status.

Because of this method of adding hashcodes and checks, the newly added block may be specified in subsequent blocks, but it cannot be changed. If someone tries to shuffle or interrupt a block, the hashes for the previous and subsequent blocks will also change and disrupt the laser splitting condition. Whenever this happens other computers on the network become aware that a problem has occurred and no new blocks will be added to the chain until the problem is resolved. And then, the block that caused the error will be discarded and the whole process of validation will be repeated.

How can blockchain benefit CRM?

Blockchain can add really exciting data security features (options) with CRM software. CRM’s integration with blockchain enables organizations to verify (or verify) records protected by blockchain technology. Especially if CRM is cloud-based.

This means that it can benefit the CRM application by restricting access to tracking data from unwanted sources. At present, CRM users around the world face the problem of duplicate or incorrect data. Since blockchain technology stores data in the form of blocks, it allows a customer to own a separate block that uniquely presents them and their personal information, details of related transactions and other relevant data.

Blockchain restricts duplicate or risky data from interfering with the database and therefore speeds up the CRM process and ensures customer satisfaction.