Blockchain Marketing

Introduction

Blockchain is a digital, decentralized technology that is growing and gaining acceptance in various industries such as digital marketing. Blockchain can disrupt marketing in its conventional form by eliminating the digital middleman, increasing transparency, and giving consumers control over how their information is shared.

Blockchain will have a huge impact on all industries. Most blockchain applications have focused on cryptocurrencies and finance, but the underlying technology could also have a huge impact on the way marketing will be done in the future.

Analytics and Artificial Intelligence have helped businesses more than consumers, but blockchain can help create a level playing field by restoring the power of data to consumers themselves. Yes, while most of us associate digital marketing with things like AI and analytics, blockchain is possibly the most disruptive technology that marketers in any industry have seen so far.

Uses of Blockchain in Marketing and Social Media.

Blockchain has much broader uses. A recent Epstein report revealed that more than 30 marketing apps now use blockchain technology to some extent. Anyone using blockchain can both use and share all of their data. As a result, every user helps keep the blockchain up to date and transparent.

The interesting thing about blockchain is that you can only add information, and information can not be removed. Given the number of users on a blockchain, hacking the network is impossible. With the digital general ledger of the blockchain, customers get a transparent view of every product, from manufacturer to seller.

Some brands rely on blockchain transparency to increase marketing in an unprecedented way. For example, the fashion brand Babyghost has implemented blockchain technology to tell a story about their products. The platform also provides financial compensation for viral content that users generate on the social media Blockchain.

The two companies that are leaders in the Blockchain of social media are Nexus and Synereo. Using Nexus, a social media platform, you can publish information, send private messages, create public transactions, sales and crowdfunding across the entire Blockchain.

The possibility of verifying both parties to a transaction and permanently documenting the exchange publicly affects all business areas. Blockchain will also disrupt the way companies do digital marketing and advertising. The good news is that many of these changes create a level playing field and give small businesses equal access to consumers than larger ones.

Protection Consumers

When it comes to protecting consumers, Blockchain is going in a good direction, with companies unwilling to access sensitive consumer data without reimbursing them for the value that businesses derive from it. Companies looking to explore the power of Blockchain in their marketing strategies can turn to a Blockchain development company to develop apps and products for marketing.

Private, approved Blockchain enables small and large companies to reap the commercial benefits of Blockchain implementations. Dominant actors can maintain their position as a central authority or team up with other industry players to capture and share the value. Participants can use the value of secure data exchange and at the same time control what, with whom and when is shared.

Blockchain technology can eliminate the need for an entity to manage, store, and finance a database.

Conclusion

The findings from our analysis suggest that Blockchain has a strategic value for companies that goes beyond the hype, since it enables both uninterrupted cost reduction and the creation of new business models in the long term. Existing digital infrastructure and the growth of Blockchain as a service (BaaS) offerings have reduced experimentation costs, and many companies are testing the water.

Ultimately, it makes sense to involve anyone who tries to use the capabilities of Blockchain technology to help marketers. Tracking growth in various sectors of the Blockchain marketing technology landscape offers a window in which entrepreneurs and startups assume that the effects of Blockchain will occur. The landscape tells you who is out there, not necessarily who is performing.