Blockchain is a technology that has blossomed at an incredible pace. When Bitcoin was launched, blockchain technology was restricted to cryptocurrencies. Today, more industries are exploring the benefits that come with this technology. Marketing is one of the industries that is benefiting massively from blockchain. This technology is solving major hiccups that have been facing the marketing industry.
Moreover, every business wants to establish a strong online presence in today’s highly competitive digital market. As such, businesses want to ensure that they are well prepared with their marketing strategies. This is where blockchain is coming in handy as a technology that can change the marketing and advertising industry. Blockchains can be programmed in most of the programming languages of your choice i.e. C/C++, Java, Python, Solidity, etc. If you are looking to learn these languages, you can find community recommended best programming tutorials on Hackr.io. For ex. here are the best tutorials to learn Java. To know more about Blockchain, one can always refer to several online blockchain tutorials online and get a good grip on it. Read on for more details on how blockchain can boost marketing.
Understanding Blockchain Authentium.io
Blockchain is comparable to a database. Blockchain comprises of multiple blocks that are linked to each other to form a chain. Each block has information stored in it. The information stored in these blocks can be shared with desired users in a peer-to-peer (P2P) network.
Blockchain is secured using cryptographic technologies to prevent unauthorized people from tampering with the data. The data stored in the blocks follows a set of algorithm based on consensus. This means that once data is stored by mutual agreement, no users are allowed to edit, delete or add data in the blocks.
Whenever a transaction is made, be it contractual agreements or exchange of information or money, the transaction is done as a block. The block has to be validated by all users within the P2P network and upon validation, a permanent digital record is established. Once done, the block is added to the chain.
The technology behind blockchain has made it fully auditable and transparent. It does not have a central point of authority and also lacks a single point of failure or control. Thus, transactions made using this technology are fully secure and transparent.
Blockchain and the Marketing Industry
Blockchain technology has changed today’s marketing industry. Here are some ways through which blockchain can boost your marketing strategies:
1. Targeting and Engaging the Right Audience
When it comes to online advertising, majority of advertisers hardly manage to target the right consumers despite having their behavioral data. Most marketers have lots of consumer data and they still pay exorbitant fees to middlemen involved in advertising. Despite doing all this, they are still unable to engage and target the right audience.