Various established companies have shown a keen interest in blockchain technology and cryptocurrency. In a lot of cases, these firms elect to develop their own native solutions. It seems Salesforce is the latest company to do so, as it is planning to develop a proprietary blockchain solution and a native cryptocurrency. It’s a remarkable decision, albeit one that raises a lot of questions.
Salesforce has Major Cryptocurrency Plans
In a way, it is always good to see companies focus on the cryptocurrency and blockchain industries. Unfortunately, it would be a lot better if these companies decided to embrace existing solutions, both in terms of blockchain technology and cryptocurrency. That is not exactly happening as of right now, although the new project from Salesforce may pave the way for promising developments in this regard.
It seems Salesforce is looking to incorporate blockchain technology into its products and operations. The company has been contemplating such a move for quite some time now, but it is evident coming up with a viable business strategy is not so easy. Even for a forward-thinking company on the level of Salesforce, finding the right approaches and use cases for this technology is not all that straightforward.
Based on the information we have received, it seems the company is working on a blockchain-inspired product. Not too much information is known about this venture as of right now, but the company plans to unveil more specifics during its upcoming Dreamforce event.
What makes this announcement – as limited as it may be – even more interesting is that the company will also seek to issue its own cryptocurrency. Not too many specifics are known about this particular project either, but it is evident the company sees merit in having its own form of transactional value. Whether or not this currency will be used beyond the company’s forthcoming blockchain-based application remains to be determined.
It is evident there is a lot of curiosity as to what Salesforce plans to unveil exactly. Even though people have petitioned Salesforce to add Bitcoin as a supported currency, the company has not jumped on that suggestion as of yet. It is possible their proprietary implementations may lead to a future in which Bitcoin plays a bigger role than it does now.
One thing to keep in mind is that Salesforce is not the only company exploring blockchains and cryptocurrency. Even so, it’s clear we will only see more proprietary technology in this regard, rather than companies embracing Bitcoin and existing blockchain technology. Whether or not this shift to proprietary technology is a smart idea remains to be determined.