30 May 2019 Arjun Agarwal
Salesforce Enters The Crypto Sector With A Ledger Tool
Salesforce Inc. shared the news that the company is releasing a blockchain-based service. The primary purpose of the new service is to uplift revenue and to be in touch with the latest technologies.
The new platform will enable users to create private networks for secure data transfers within companies or with third parties. Salesforce, based in San Francisco, stated that the new platform would be integrated in Salesforce`s development platform - Lightning.
Salesforce’s efforts in the blockchain ecosystem are not completely new – they have been researching the fields of blockchain since 2018. Salesforce’s co-CEO Marc Benioff stated that the company plans to some of their operations to rely on the blockchain and cryptocurrencies. The statement was made in Q1 of 2018.
The deadline for the implementation of the blockchain platform was last September, however several delays led to a postponed launch.
Salesforce, being a global leader in the customer relationships sector, entered the Transport Alliance last year. The Transport Alliance represents a group of companies with a primary focus on improving the supply chains.
Salesforce’s decision comes after the crypto hype has started to diminish, and the market become to enter a maturing phase. As a result, cloud computing startups have started planning the possible implementation of blockchain solution provisions. In addition, one of the largest fintech companies relocated more than one thousand of its employees into various blockchain-related projects.
Other software giants, such as Microsoft, also jumped on the blockchain bandwagon, releasing a blockchain service that enables the creation and management of digital ledgers with just a few clicks.
Salesforce representatives stated that selected users are already testing out the new blockchain product. The ledger product is created on the Hyperledger software protocol.
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