BlockChain (BC) Upending Customer Experience: Promoting a New Customer Relationship Management (CRM) Structure Using Blockchain Technology (BCT)

Abstract

This study aims to explore the role of BC and its impact on CRM by suggesting an extended CRM on the basis of BC capabilities thru developing an analytic hierarchy planning-based framework to establish criteria weights developing a new self-assessment model to determine the most critical factors impacting the BC investment in CRM to enhance customer experience and to enable parties to work together in a trusted technology environment. An analytical hierarchical process (AHP) approach was utilized to prioritize and weigh the factors affecting the BC investment in modern CRM in the service industry based on the extant literature and its interpretation. This approach resulted in a ranking of 19 sub-factors based on experienced customer service professionals and technologists’ evaluations. Findings revealed a significant insight into proposing a new generation of CRM based on BCT, focusing on using the powerful BC platform considering all factors influencing the BC investment in modern CRM from a business perspective. Understanding the new combination of BC and CRM can solve the challenges and dilemmas linked to the untrusted environment of handling CRM data in the information systems field. This study provides valuable information and critical analysis of BC regarding CRM integration. Directions for future research are also included.