Blockchain is a system that contains a distributed database, as its name says; by chains of blocks linked together, designed to avoid their modification once a data has been published using a reliable time stamp. This type of feature is used in the financial services and banking sector because it increasingly stores data ordered in time and without the possibility of modification.
But it is not the only one, it is also used in areas of customer relations and sales because they record the data reliably and above all secure. In addition, it connects consumers and suppliers directly to each other to create conversations and digital activities in a decentralized manner.
In this model, intermediaries disappear and everything revolves around a system that works without needing a person to control. With all this, blockchain is an ally to promote a new generation of transactional applications that promote the confidence of its customers and make companies more competitive.
How Blockchain affects marketing and advertising
Here we present 5 factors in which blockchain positively impacts digital marketing:
1. Analyze the specific target for each advertisement. With Blockchain you can perform an analysis on the target to which the advertising message will be sent, based on the use history, in this way the advertiser can have total certainty that the results are real.
Advertisers, when choosing where to place advertising, are based on factors such as trust . Especially if it is to know the true data about how many users have been impacted with each piece.
2. Historical monitoring of each product. The blockchain is used to obtain a complete record about the history of a product. An identifier that detects the route or stages of the article is added to each product. The buyer can see where he comes from and all the steps he has followed until they reach his hands. This verifies that it is authentic and generates trust.
For the brand it also generates value because such actions bring transparency to the business, confidence will increase and the engagement towards your brand will be greater.
3. The consumer decides for his favorite brand and increases his loyalty. Currently users know that they will receive something in exchange for offering their personal data on the Internet or for consuming an advertising piece. In this way, taking into account the operation of the blockchain, each user owns their own data and can decide to whom to give them.
4. Verification of identity. With this, digital marketing avoids impersonation, deceit or misuse of influences. Also, it is developed in website operations to improve the security of subscriptions or anything that involves interaction with users.
5. Blockchain is used to store any data record; such as copyrights to software licenses, since errors in traditional storage models will be avoided.
Blockchain making headlines globally
Blockchain technology continues to make headlines around the world, generating much curiosity and enthusiasm about this fascinating new sector of the global economy. Recently, the media has reported on many interesting developments on the regulation of cryptocurrencies, the creation of "tokens" or digital tokens and initial offers (ICO). While these reports offer some regulatory clarity, blockchain technology remains a mystery to most existing corporations and private companies. As blockchain technologies and the regulation of such continue to mature, many companies are exploring ways to integrate technology to improve efficiency, transparency, and increase profit margins.
At the same time, many new companies are considering issuing and selling cryptocurrencies as an attractive mechanism to raise funds. So far, in 2018, billions of dollars have been raised through the ICOs. Now, there is more competition than ever for financing. To be able to raise funds successfully, a project must stand out and offer real value.
The process of launching a blockchain project involves several phases, including incorporation, pre-public, post-public, and post-launch commitment. Strategic planning is key to a successful launch and, with the recent growth and legal clarity, there are more companies offering BaaS (blockchain as a service) to facilitate startups and new companies to implement blockchain technology.
While marketing is an important part of an ICO, undoubtedly, the most critical aspects of any blockchain operation are its security, functionality, interoperability, and scalability. Any startup that wants to launch a blockchain must analyze networks such as Ethereum, NEM, Qtum, Hyperledger, and Komodo to find the most suitable platform to build their blockchain and smart contracts.
This task can be daunting and difficult to navigate without any previous experience. That's where BaaS providers enter to close the gap between blockchain projects and traditional companies.
According to experts, in 2018 alone there were more than 895 ICO. While this number seems high, it is likely that the actual figure is much higher, since this statistic does not include many private chip sales.
In addition, jurisdictions have recently implemented clear legal guidelines for sales of digital tokens and for the operations of blockchain companies. Therefore, we can expect that even more startups and new companies will issue cryptocurrencies, as well as securities, assets and digital contracts.
In a preventive strategy to accommodate the growing number of companies that are launching blockchain and smart contracts, the Company has partnered with several blockchain projects that include Komodo Platform, NEM, NIX, CryptoGeeks, and Verus Coin to offer customers an easy and efficient development. The company provides end-to-end services on several networks, including Ethereum, Qtum, NEM and Komodo Platform. With a focus on customer service, usability, security, and design, Company makes the release of blockchain and applications an easy process.
As the number of legitimate companies seeking to implement blockchain technology for fundraising increases so does the number of unsafe scams and blockchain. While the simplification of the processes of creation of tokens and the launch of blockchain technologies is an important goal, it is essential that we remain alert to possible scams and avoid excessive tokenization.
The company aims to educate its community and customers about the best blockchain practices and about the proper implementation. There are innumerable use cases that cover many industries, but the reality is that not all companies need to launch a blockchain or digital token. No matter how competitive the market, it is important to launch a blockchain or cryptocurrency only if it really improves the efficiency of a business process and if the token that is issued has a viable purpose.
Blockchain use cases that are not to raise funds
With recent advances in smart contracts, many companies have begun to investigate the implementation of smart contracts to increase the autonomy, transparency, and security of business processes. The development of blockchain is advancing rapidly and in the coming years, all our lives will be affected. It is almost a certainty that record keeping, commerce, digital identities, and finance interact with blockchain technology in the future.
Leading companies and its partners are working together to offer governments, universities, and private companies’ easy-to-use blockchain solutions in which they can develop their applications. The blockchain economy is maturing and evolving. Many of the services offered by Company will play an integral role in promoting the adoption and widespread use of blockchain technologies.
Blockchain meet IoT
IoT is growing and according to International Data Corporation, these companies plan to introduce this technology to their products. The blockchain technology is ready to improve service and increase sales. The blockchain is beneficial for these industries also because it has a secure framework and automates the exchange of data.
Massive Blockchain adoption
According to a survey conducted by International Data Corporation, respondents are willing to invest millions in blockchain technology next year. In addition, they have also reported that this technology will also provide benefits for their companies. One example is IBM, which has developed a blockchain system for developers interested in creating decentralized applications.
Video game services are also increasingly interested in tokens and base their services on blockchain technology. A popular example is Bountie, a company that plans to launch a gaming platform that allows players to receive rewards in cryptocurrencies. In addition, they can use these cryptocurrencies to buy games and merchandise.
Increase in decentralized exchanges
The blockchain industry can also lead to an increase in the number of decentralized exchanges of cryptocurrencies. Although these exchanges are, interestingly, more decentralized, it is likely that their number and popularity will increase thanks to this technology.
The last actor that could enter the blockchain industry is government agencies. These agencies appreciate the immutability and security offered by the major distributed registration technology. In general, these are just some of the main areas in which the blockchain can grow and evolve during the year that has just entered.