The marketing world is dynamic, interactive and changing, and because of its goal of adapting to new technologies, it must be able to carry out the changing approach of consumers. Now there is a new change that promises for digital marketing, along with many other industries: blockchain.
In 2016, we saw that ad-blocking began to be the norm. Moreover, now, in 2018, we are seeing the blockchain increase, even from last year. You are already making significant changes in the financial world, and if you are not yet on your radar, you should be. The blockchain technology will not only apply to finance; its uses are much broader than anyone can imagine.
- Therefore, if you want to ride in this lane or you have no idea what it is and how to do it, you came to the right place.
- However, first, take a look at this TED where a partner of one of the pioneering companies in using Blockchainexplains how it will dominate commercial communications. Need to know more about it? Visit https://www.amarkets.com/promo/double-your-deposit/.
What is Blockchain?
Blockchain comes from the combination of two English words: block (or blocks) and chain (or chain). The blockchain is like a public accounting book (or a public purse) that everyone can see and share among all its users. It is the best peer-to-peer network.For its part, all people who use blockchain keep the ledger (or secure account book) updated. It is stored in a string type configuration, where the transaction history is stored in “blocks” and can only be built, not changed.
- For example, if someone tries to hack, everyone would realise this hacking, because the ledger would be changed for all participants in the chain.
- With the number of people who already use it, that is almost impossible. Can you imagine how safe it will be when there is the significant absorption of it?
- The blockchain is outside any bank or government, which means that no central authority establishes regulations in this regard. Then you can fire the intermediary who charges a commission (i.e., banks or other financial institutions).
- Blockchain has no centre, which means that everything is the same (it is decentralised).
- Transactions are protected by the unchanging nature of the ledger, which gives greater cybersecurity.
- There is nobody in charge of the blockchain as a whole.
There are many ways in which intelligent and innovative companies use blockchain, but the first, and probably the most listened to is Bitcoin. This is where the cryptocurrencies come in.They are not physical coins or cash, but stored in a “digital wallet”.It is practically like a foreign currency. Its value is still affected by supply/demand and world events, such as government policy.
Blockchain in digital marketing
Now that we have reviewed all the complicated technical information let’s apply this to digital marketing. Below are some of the areas in which you will begin to see changes.