Have you ever heard of blockchain ? In technical terms, the term identifies a shared data structure and by its nature immutable, a sort of digital register that presents chronological grouping blocks for the various entries, and always encrypted . But how is it linked to marketing and how can it change its fate and strategies?
If we consider that the key feature of the blockchain is to allow the transfer of digital data in a totally secure way thanks to sophisticated coding systems, it is easy to understand that its technological impact is wide and detonating, both in terms of marketing and economics . Not only, in fact, the blockchain does not need any intermediary for the verification and approval of information, but it is shared and validated by different nodes that make the elimination of the information entered practically impossible. In practice, this amounts to a significant streamlining of processes , to complete tranparency and the elimination of intermediate parts that could undermine the security of digital operations.
How a blockchain works
The blockchain essentially operates in five different phases , called keys :
- Transaction : the two parties involved decide to exchange a unit of value intended as a digital representation of a resource, through a transaction. This unit of value can be a professional security or a digital currency, for example.
- Block : the transaction is sent and, together with other pending transactions, produces in bulk involving the network of machines that are part of the blockchain system.
- Verification : the miners, i.e. the computers of the blockchain, evaluate the transactions through a series of mathematical calculations and define their validity based on specific principles. The verification will take place only when the consensus between the machines is reached.
- Hash : the verified transaction is momentarily sealed by cryptography and becomes part of an unclassified, and therefore more secure, chain of records.
- Execution : in this last phase, the unit of value is moved from the sender to the recipient.
The great strength of this technology lies in its decentralized structure , i.e. spread over different devices and servers located in different points of the world. That’s why no one ever really owns it!
And its impact on digital marketing?
On a real and tangible level, what impact can the blockchain have in digital marketing strategies ?
Essentially, its success is based on security, trust and transparency in the transaction , with full traceability of the path taken by the unit of value from whoever sent it to whoever received it. For brands, guaranteeing their users a very high level of security is equivalent to significantly reducing the fear of buying and, consequently, the blockchain can increase the amount of sales. You could also do shopping online with bitcoin.
Not only, therefore, this technology is ideal for finance, economy, banking and cryptocurrencies , but in general also for any brand that offers its products or services for sale on the network and that wants to guarantee the highest degree of security to its customers, increasing at the same time its own brand reputation . The quality of the brand , in fact, tends to increase when it is perceived as reliable, as less subject to fraud and scams.
And although for now there are roughly thirty projects and startups that use blockchain in digital marketing, for example in the field of native advertising, CRM, Email Marketing and of course eCommerce, the trend is inevitably destined to confirm itself in the years to come, if only because this technology makes it possible to acquire contacts, analyze and plan messages and improve the purchasing process in a simpler and more efficient way .
Will your project go in this direction?