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Solving the Long-lasting Issues in Digital Experience through Blockchain

By CIOReview | Friday, November 16, 2018

There have lately been several discussions about the digital experience on how to incorporate the right data. It’s the central conflict in the continuous "buy versus build" debate. Incorporating software in ways that are reliable, cost-effective, and scalable is extremely hard. It requires a blend of general system architecture, business setting systems, and particular learning how those systems function. The integration should be capable of operations management. Wide adoption of REST architecture for API’s has provided a common language for systems to talk to one another. The technologies are getting better every fat at web service interfaces and provide tools to link the interfaces for sharing the data. 

Tech leaders are now working on how the decentralized digital ledger could improve the digital experiences. If the customer data, transaction status, and content don’t silo in databases, wrapped with API’s that participate in the digital experience might be equal. This simplifies the implementation of DX stack and ultimately develops the opportunities to create digital experiences for customers. Blockchain aims to enforce the “single source of truth” for data. The customer data platform might be fundamentally elevated by working off of a single source of truth instead of seeking to create this through data integration.   

Companies have found themselves in hot water when the sensitive data is breached. Blockchain gives the ability to pseudonymize data that enforce strong privacy.  Privacy certainly needs to be considered.

Digital experience is all about the context that shares enough information across siloed technology to create a proper amount of context. Blockchain provides the backbone for being able to create a context that protects personal and sensitive data.

Customer experience doesn’t overlap with the world of financial technology. Blockchain, technology holds the potential to revolutionalize the way businesses are done, far beyond its ability to transform and enhance financial transactions. Blockchain can change customer experience for better–improving access for customers by increasing security in all kinds of business-customer interactions.