Gone are the days when blockchain was mainly a driving technology behind Bitcoin. Now, this emerging trend has slowly penetrated the market and has affected the way by which many companies operate. It is popular in the world of finance but much more than that, there is much more to know about blockchain and digital marketing.
Before getting into that however, it is important to have an overview of this emerging technology. Blockchain allows for storage and distribution of information but unlike other technologies, it does not allow copying. It is more of a peer-to-peer network that allows sharing of data to all users. As the name implies, it makes use of a chain-like configuration to store information while transaction histories are stored in blocks.
Using a digital ledger, blockchain allows recording of information on anybody's computer to anywhere in the world. This makes the process decentralized because there is no specific authority managing the stored data or actually setting regulations on its use. This gives digital marketers the chance to use the technology without actually using a middleman like banks or financial institutions that take portions of the fee.
List of Advantages
Since blockchain uses a decentralized process, digital marketers can be sure that their transactions are protected. This translates to better cyber security. Add to that, nobody is actually in charge of or owns the blockchain. With the great technology behind it, innovative companies will be able to take advantage of the many uses of blockchain.
Cryptocurrencies in Digital Marketing
Cryptocurrencies are simply the new digital currencies that depend on blockchain technology. These are not actual cash or physical coins but in the digital world, they are referred to as the coins stored in a person's digital wallet. Just like foreign currency, the value of these cryptocurrencies is affected by both demand and supply and anything that happens around the world.
Blockchain and How It Affects Digital Marketing
Bitcoin is just part and parcel of what blockchain really is. There is a bigger picture that you must see and part of the picture is how it can actually affect the world of digital marketing. One is the fact that the technology will eliminate the middleman in digital marketing by adding more value on a company's ad campaigns. Some of the middlemen that can be eliminated are Google or Facebook that are known for ensuring the dependability of every transaction made and each ad campaign launched digitally.
Blockchain eliminates the way with which a company communicates with site owners whenever there is a need to publish ads.
In the past, Google and Facebook do the work making digital marketers indirectly communicating with site owners. With blockchain in place, companies can now communicate directly to site owners. The technology will prove that users are real thus eliminating the mediator when signing an agreement for advertising purposes. This means an increase in income for digital marketers.
Blockchain is, with no doubt, a technology that every digital marketing company must consider whenever they want to establish a name for themselves in the digital world. This technology is very straightforward and transparent which will make clients feel more confident while doing business with you.