The residue is just mineral salts left after water evaporates, so it does not damage anything on its own and brushes off. What matters is the message it sends, that water has been moving through the wall from the soil outside.
In our climate, the usual drivers are poor exterior grading, downspouts discharging at the foundation, and high groundwater pushing moisture through porous block or cracks. Tracing efflorescence back to one of these sources points to the actual fix.
Addressing the moisture, through better grading, downspout extensions, and drainage management, both stops the efflorescence and protects the basement from the seepage behind it. The white residue is a useful early warning rather than a problem to clean and ignore.
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