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Home | Contact Center Technology | What Is Blockchain Technology? Contact Center Benefits and Uses
Home | Contact Center Technology | What Is Blockchain Technology? Contact Center Benefits and Uses

What Is Blockchain Technology? Contact Center Benefits and Uses

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Blockchain Technology

Blockchain is one of the biggest and greatest technological stories discussed and implemented in the last decade. Even though everyone talks about it, only some are familiar with its meaning, benefits, and operation. 

 

In this article, we will highlight the essence of blockchain technology in call centers, its benefits, its characteristics, and whether it is secure to use. Additionally, we will cover the significance of using a Call Center Studio and how you can utilize the Cloud Contact Center Software. 

 

What Is Blockchain Technology?

Typically, blockchain refers to a shared and unchangeable ledger that makes it easier to record transactions and track assets inside a company’s network. In this context, assets can be either physical or intangible. A blockchain network allows for the tracking and trading of assets, thus lowering the risk and increasing efficiency for all the parties involved.

 

How Is Blockchain Secure?

One of the main objectives of adopting blockchain is to enable data privacy when sharing or accessing essential data. The blockchain ensures its processes are secure using advanced arithmetic and integral software standards to store data. These tools make it very challenging for attackers to modify or hack the data. A good example of blockchain technology that ensures data security is Bitcoin. Typically, bitcoin is an accounting ledger that records every Bitcoin transaction that has ever occurred. Therefore, every time you perform a transaction, the Bitcoin nodes verify that the marketing is genuine and that you have the funds available in your account to make a transaction. 

 

What Are the Characteristics of Blockchain Technology?

The characteristics of blockchain technology can be classified into two categories; functional qualities and emergent characteristics. Functional qualities are those characteristics that a system must have to function. When it comes to emergent qualities, they are characteristics that are derived from functional qualities.

 

Functional Characteristics

Here are some of the functional characteristics: 

 

The Use of a Decentralized Network

Blockchain technology employs the use of peer-to-peer networks as its foundation. Typically, every node is regarded as a peer, and the application determines the roles and permissions assigned to the nodes. Therefore, there is no need for you to have a centralized server for authentication since the decentralized network eliminates it. 

 

Data Immutability and Security

 

Data Immutability and Security

With data immutability, you cannot change or tamper with data once it has been encrypted into a block and put into the blockchain. Therefore, the block will only be written after your approval as the participant. Regarding security, the cryptographic algorithm SHA-256 helps to perform hashing to secure data. This ensures evaders don’t hack the system by generating a fixed-length output regardless of the input data length. 

 

Emergent Characteristics

Transparency

The peer-to-peer network topology promotes equality and transparency among the nodes. Therefore, you can check on the status of any transaction as it is processed. The node provides a consensus while being fully aware. As a result, a blockchain facilitates all activities and transactions with complete transparency.

 

Auditability

Typically, the chain serves as a record of the transactions for auditability. Additionally, the timestamp aids in establishing the sequence. Since that blocks have a lifetime of read-only functionality. Blockchain systems always support audibility and provenance.

 

Contact Center Industry

 

How Can Blockchain Technology Benefit the Contact Center Industry?

Blockchain is the ideal platform that can change the contact center industry. The blockchain’s decentralized network enables safe and open operations without the demand of a central server or authority. 

 

In the contact center sector, this technology has the following benefits:

 

Enhancing Data Security

Blockchain technology helps the contact center industry by altering how sensitive and significant data is perceived. Blockchain helps to reduce hacking by creating a record that is encrypted end to end. Therefore, contact centers can employ permissions to limit access and anonymize personal data to enhance data security. Blockchain ensures data is safe and secure by storing it across different computer networks rather than relying on a single centralized server.

 

Improving Customers’ Experience

The contact center industry ensures employees have secure access to pertinent customer data with the client’s consent by storing digital ids in the blockchain. Therefore, employees will deliver more to their customers by securing access to relevant customer data and insights based on contextual information. This improves the customer’s experience through the professional performance of the employees.

 

Reducing Costs

Typically, if you are a professional in the contact center, you may require less training and directions if the company has access to accurate consumer information. This access provides you with relevant experiences. Therefore, raising the potential earnings from worthwhile brand or consumer interactions could assist in lowering the average contact center’s overall costs. 

 

Additionally, a fully transparent and identifiable data set on the blockchain may help contact centers improve the audibility of the surroundings. Doing this will reduce the possibility of having hefty legal costs or fines when concerns about service quality rise.

 

Streamlining the Processes – Implementing Blockchain Technology in the Contact Center 

When blockchain technology is implemented correctly in the contact center sector, it will streamline the process in the industry. Streamlining the processes will help to improve accountability, automate reconciliation duties and help people become confident and trustworthy that their data is safe from hacking.

 

Assessing the Needs of Your Contact Center

Sometimes it can be difficult for contact centers to run their fundamental operations, such as reorganization to increase productivity or introduction of new services. However, the introduction of blockchain technology, which acts as a potent for changes, helps to access the needs of your contact center amidst market pressures.

 

Identifying Use Cases for Blockchain Technology

Blockchain creates a platform where you can identify use cases in your contact center. For instance, if your call center receives an overflow of unmanageable calls, you can decide to employ more workers in the company or combine blockchain with artificial intelligence tools such as chatbots and other intelligent voice assistants.

 

Selecting the Right Blockchain Platform

Blockchain technology provides you with different blockchain platforms that you can implement in your contact center depending on adoption rate, scalability and security, among other factors. Therefore, before you select a specific blockchain platform, ensure that it fits your contact center’s needs and will maximize profitability.

 

Developing a Road Map for Blockchain Adoption

When you have done enough research and have advanced knowledge about blockchain technology, it will help you develop a roadmap for blockchain adoption. Knowing which blockchain is best for your company will help you monitor your center’s productivity and the changes in the market.

 

Conclusion

Are you looking for a platform where you can learn to be a better call center representative? Do you wish to sharpen your skills in customer care? Look no more; Call Center Studio is the platform for your needs. Call Center Studio represents one of the best contact centers that aims to provide better experiences everywhere. Engaging more people to use this call center will create the necessary knowledge. For this reason, we foster a startup culture that encourages and values your contributions through online training and friendship. 

 

Additionally, since learning is a continuous process, we embrace errors because they offer the best opportunity for you to learn. Therefore, all these beneficial factors motivate us to become one of the most significant tech businesses and develop fully scalable, reasonably priced, and user-friendly Cloud Contact Center Software that aids other enterprises in producing their own top-notch customer and agent experiences.