Salesforce is employing blockchain to strengthen ties between institutions and its consumer bases. Its latest product for customer network building, a blockchain platform promising minimal coding, leverages the technology to reduce the “trust gap” between partners in data sharing.
Salesforce Blockchain is built on the open source of Hyperledger Sawtooth, a technology for running ledgers. It's customized for Salesforce Lightning, creating more trust between partners, according to the company.
The network eliminates the need for coding know-how with a platform that allows users to click their way to a blockchain system rather than developing it from scratch. Companies can build blockchain networks similar to how some offer website building platforms for those unfamiliar with code. They can then invite partners to join the network, effectively sharing data on a ledger system, automating the saving and authenticating of data.
Arizona State University, life science information company IQVIA and S&P Global Ratings have already signed on. ASU is using the ledger for tracking student records, giving access to the students themselves.
“This network has the potential to be a game changer for integrated, seamless learning—increasing transparency of student achievements and ultimately making the exchange process of academic records easier for both learners and institutions,” Kent Hopkins, Vice President of Enrollment Services at Arizona State University said in a statement.
In the life science industry, IQVIA said the ledger system will cut costs for drug label automation and audit tracing. S&P Global Review plans to use the system to compile “know-your-customer” data, creating a more transparent network of reviewers.
“The KYC reviews and approval process is very time consuming and requires multiple parties to ensure each business is evaluated accurately and completely,” said Chris Heusler, Global Chief Commercial Officer, S&P Global Ratings. “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.”
The product will become generally available in 2020. After sharing the release at the company’s TrailheaDX conference, Salesforce also published a blog post announcing its latest blockchain technology and detailing its benefits for customers.