What is Blockchain?
‘Blockchain’ is the latest latest trend technology that appears at this time. This is a concept that ensures data security uses ‘cryptography’. This is a continuous note list called blocks, which are linked to each other internally by usually containing cryptographic hash codes from the previous block.
“Blockchain is basically a digital ledger that can be distributed that can record transactions between two parties efficiently in a safe manner. This follows a peer-to-peer architecture (decentralized and distributed)”.
How does Blockchain ensure the highest security level? Or how it works?
Blockchain can provide the highest level of security which is why it has been used to store transactional data. It works in a way as soon as the first block has been made, each block adjacent in the ledger using the previous block hash to calculate the hash itself. Before adding new blocks to the chain, authenticity and uniqueness must be verified by the computing process. And this process also includes permissions and other block guarantees that have just been added to the block have been verified. This validation process also ensures that all copies of the distributed ledgers have the same state.
Because the mechanism for adding a hash code and check, the newly added block can be referenced in the next block, but cannot be changed. If someone tries to exchange or inhibit one block, hash for the previous block and then it will also change and disturb the state of sharing the ledger. Every time this situation occurs another computer in a conscious network that a problem has occurred and there is no new block that will be added to the chain until the problem is resolved. And then, the block that causes errors will be discarded and the entire validation process will be repeated.
How can Blockchain benefit CRM?
With CRM software, Blockchain can actually add interesting data security features (options). CRM integration with blockchain allows organizations to have verified records (or can be verified) guaranteed by blockchain technology. Especially if CRM is based on Cloud.
That means it can benefit the CRM application by limiting access to track data from unwanted sources. At this time, CRM users worldwide face duplicate problems or wrong data. Because, Blockchain technology stores data in block form so that it can allow customers to have a separate block that represents uniquely and their personal information, related transaction details, and other relevant data.