Cere Networks is creating waves in the crypto circles as it strives to become a decentralized CRM like Salesforce.
The firm has raised 1.5 Million in a funding round led by Arrington XRP, Kinetic Capital, QCP Capital, and AU21 Capital.
Cere Raises $ 1.5 Million in Funding
Cere Network is backed by Binance, and the firm aims to provide a decentralized alternative to Salesforce and other mainstream customer relationship management solutions. The company would use the funds raised to build the enterprise-grade platform called Decentralized Data Cloud on the Polkadot blockchain.
As per the CEO of Cere, Fred Jim, the DDC platform would provide complete ownership to the businesses, and they can utilize their customer data to build their systems. He added that the tech behemoths like Amazon, Salesforce, Amazon, and Google have full control over customer data. With decentralization, the power goes back to the businesses.
Polkadot blockchain is a leading platform that allows developers to build and run their dApps like Ethereum in which the users can launch their own tokens. With a Decentralized version of Salesforce, the businesses would get ownership of their data, which is not possible when they store data with leading tech companies. The clients are often ‘locked in’ with these companies and must pay more to get more freedom to access their data.
The DDC solution resolves this issue by establishing a secure first-party data foundation on the cloud infrastructure through blockchain. It uses data encryption and blockchain identity mechanism to separate and identify customer data. Using advanced technologies, customer data is converted to interoperable and customizable datasets, which can be accessed by businesses and processes in real-time. Data is secured and completely accessible to businesses free from vendor locking as supported by Cere Open Data Marketplace. Cere is developing the DDC platform on Polkadot blockchain; thus, it would be available to all the projects on the Polkadot blockchain..
Dieter Fishbein, Head of Ecosystem for Polkadot, said that ”We are excited to see Cere innovating along the same vision of interoperable ecosystems to foster the next generation of DeFi and blockchain adoption”. He further added that the company sees that the DDC platform is extensible to the various solutions built on the Polkadot Blockchain or sub-chains.
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