BchainTalk Forum - Community for Blockchain Believers

Join like-minded people in a collaborative culture to share & learn.

Latest topics
» ICO Problems: Double-check Where You Are Sending Your Money To
Yesterday at 10:00 pm by Vladdirescu

» Russia To Legalize and Regulate ICOs
Yesterday at 1:28 am by Vladdirescu

» Social Media and Blockchain: Where Everyone Has Voice and Freedom
Fri Jul 14, 2017 11:14 pm by Vladdirescu

» The Chinese Exhibition Market is Starting to Implement a Blockchain
Thu Jul 13, 2017 2:36 am by Vladdirescu

» Billion-dollar Unregulated Gaming Industry to Embrace Blockchain
Sat Jul 08, 2017 1:55 am by Vladdirescu

» Blockchain Crowdfunding Is Attracting Hundreds Of Millions Of Dollars – And It’s Growing Fast
Fri Jun 23, 2017 8:57 pm by Vladdirescu

» Is Blockchain Really the Future of Energy?
Thu Jun 22, 2017 11:54 pm by Vladdirescu

» Global Commodity Exchange To Use Blockchain For Trading Diamonds
Fri Jun 16, 2017 10:18 pm by Vladdirescu

» How to buy Bitcoin in India ?
Tue Jun 13, 2017 2:53 pm by blockchainboy

» Coinbase Scam
Tue Jun 13, 2017 9:26 am by theepicbonus

» Poland is Moving Towards Embracing Bitcoin and Blockchain Technologies
Tue Jun 13, 2017 3:44 am by Vladdirescu

» The First Islamic Bank to Use Blockchain Technology
Tue Jun 13, 2017 12:14 am by Vladdirescu

» The Number of Blockchain-related Vacancies on LinkedIn Has Tripled
Fri Jun 09, 2017 2:30 am by Vladdirescu

» Sberbank Conducts the First Letter of Credit Transaction on the Blockchain
Tue Jun 06, 2017 2:36 am by Vladdirescu

» Blockchain Startup TrueFlip Banned in Russia
Mon Jun 05, 2017 11:26 pm by Vladdirescu

» Energy Sector Welcomes Blockchain Worldwide
Fri Jun 02, 2017 2:11 am by Vladdirescu

» Dubai is Leading the Way for Blockchain Implemenation
Tue May 30, 2017 10:26 pm by Vladdirescu

» The Next Generation of Blockchain Tech - ‘Quantum-Secured Blockchain
Sat May 27, 2017 12:20 am by Vladdirescu

» Blockchain-Based Cryptocurrency Travacoin Used as Compensation for Flight Delays
Thu May 25, 2017 3:15 am by Vladdirescu

» Indian IT Firms to Focus on Bitcoin’s Blockchain Technology
Wed May 24, 2017 5:44 pm by learnwithalan


Blockchain: CRM’s Next Frontier

View previous topic View next topic Go down

Blockchain: CRM’s Next Frontier

Post by Jayden81 on Wed Apr 19, 2017 5:17 pm

Since 2000 we’ve seen a parade of technologies including browser-based cloud computing, social media, mobile technology, workflow, journey mapping, and big data and analytics coming into the front office. It’s typical that at first there’s only a tenuous relationship between the technology and CRM’s original mission but over a short time innovators adopt and commercialize the innovation often by rethinking or inventing from whole cloth business processes that leverage the technology’s attributes.

I think the next invasion of CRM will be blockchain technology. If you haven’t heard of blockchain, you shouldn’t be surprised because it’s been slowly making its way around the back office and it’s still early days for the technology even there. In this article I’ll delve into what blockchain is and how it might be used in CRM, but remember, blockchain isn’t in CRM yet and it might not be ever. This is all my hypothesis.

So, what is it?

Blockchain is an approach to data management that enables disparate organizations—none of which has absolute control of the data—to trace data through long processes involving multiple computer systems owned by different parties whose goals and requirements can be vastly different. Blockchain provides a common denominator for just the data these disparate entities need to collaborate on and a pedigree of the data that’s hard to fake.

So for example, an article in Harvard Business Review, by Michael J. Casey and Pindar Wong, “Global Supply Chains Are About to Get Better, Thanks to Blockchain,” discusses how the technology can potentially help manufacturers keep track not only of goods but of associated attributes like quality control by providing the provenance of everything in the supply chain proving to the end consumer (either a business or an individual) that the component meets contractual standards, for example.

Contracts are an area where blockchain has strong roots. According to the HBR article it, “…allows users to attach digital tokens—a unique, negotiable form of digital asset, modeled on bitcoin—to intermediate goods as they progress along the production, shipping, and delivery phases of a supply chain and as title to them passes between different players.”

I suspect but do not know for certain because I am not a security expert, that some form of blockchain technology could be useful for improving security regimes in many applications. Blockchain would be useful to, “transfer title and record permissions and activity logs so as to track the flow of goods and services between businesses and across borders,” say the authors, so why can’t it be used to do the same with enterprise data?

Current security approaches spend a lot of effort building taller walls to keep invaders out but that’s a recipe for an arms race: for every 16 foot wall there’s an 18 foot ladder. What might happen if once those invaders gained access they were stymied because they didn’t have the right permissions because authorizations were scattered across many data centers and servers or because they couldn’t provide accurate pedigrees for their requests?

What about CRM?

Blockchain would be especially useful to help understand demand and thus figure out where to deploy resources. The current state of our thinking about customers is that we need to get 360-degree views of everything they are about but very often, even in this advanced CRM age, that’s prevented for two reasons. First, data is siloed in different departments. Like it or not the marketing view of customers is department-centric as are the service and sales views. Second, much of our customer outlook is still supply driven, in other words, even with analytics and machine learning to coax and prod users to do things with or for customers, actors still need to interrogate data themselves.

In effect, CRM users are still boxed into a position where they are supplying things, either information, service, or product, to customers. But if the effort of CRM is to always be available to customers to supply a need, then the most cost effective approach is not in trying to supply but to manage demand. Since demand is capricious and ephemeral, something like blockchain technology probably coupled with analytics would be the optimal approach to meeting that demand. For instance, in the Internet of Things, where machines communicate with machines, it becomes vital to provide not only data but its bulletproof provenance as well.

We’re rapidly moving into an era where fragmentation means that no single entity controls all of the data that we depend on for modern life. The alternatives are to withdraw from interaction or to find approaches that continue to leverage existing structures while improving our processes to make them more secure so that we can have high confidence in the data we use. Withdrawal is a fool’s errand and history is littered with attempts that worked for a time but ultimately collapsed. The current anti-globalism and populism movements provide an example. Although I do not wish to make this a political argument another example includes the Luddites who fought automation and lost. But perhaps the most interesting example of failed withdrawal was the Shaker sect. They set up their own communities and were successful at withdrawal but their dedication to celibacy kept their movement from growing https://en.wikipedia.org/wiki/Shakers .

My point is that after several decades of innovation in a variety of technologies, blockchain might be one of those useful tools that occasionally arise to tie everything together. As Casey and Wong point out, “the sophisticated, decentralized, internet of things–driven economy that many are projecting might well be impossible,” without it.

Source: https://www.enterpriseirregulars.com/114292/blockchain-crms-next-frontier/

Jayden81

Posts : 6
Reputation : 0
Join date : 2017-04-15

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum