Smart Contract Business Applications: CRM systems Based on Blockchain

The main aim of the research is to define possible application of smart contracts in the CRM systems and to create models AS IS and TO BE for typical processes of customer relationship management in different types of business. In the literature review there is information about main processes which are automated in the CRM systems, about current trends and hidden threats in this field. After that, the blockchain and smart contracts environment is described. Then there is a brief overview of popular platforms for smart contracts: Ethereum, Counterparty, Rootstock. Having analyzed different sources and current blockchain solutions, general advantages and disadvantages of systems based on blockchain were defined. In the practical part of the research three typical processes were defined in the field of customer relationship management in the bank and insurance industry, where CRM systems based on blockchain can bring real value in the customer data management. For studying possible application of blockchain systems, AS IS models were developed and the bottlenecks of these processes were defined. After that, TO BE models were developed where blockchain was underlying technology in the processes. For each of three processes were defined positive and negative sides of using such system. Summarizing the practical part, it was assumed which departments will be impacted of CRM systems based on blockchain. Also, HR department was considered to be one of the blockchain application areas. Practical significance of the research is to show some examples of CRM processes which can be improved with the help of blockchain-based CRM module or system.