What does Blockchain Mean in the World of Marketing
The blockchain has emerged as one of the most disruptive technologies and has minimized various loopholes in security issues in various industries. It uses a series of blocks that records data in hash functions with a timestamp and link to the previous block. These blocks are stored anonymously with other stakeholders in the network eliminating points of vulnerability which cybercriminals can exploit. Every transactional data is verified with every stakeholder, and the blockchain does not allow previous data to be overwritten.
For marketers, the blockchain has proved to be a game-changer as it allows a single source of information all can rely upon. It has the ability to share a single, immutable set of records that can be transformed into various use cases, starting from the transparency of ad exchange data to distribution of content. Bitcomo, a new advertising platform for advertising, ensures the entire cycle of exchange from publisher to the advertiser is transparent and protected from cyber threats. Consumers can get more secured consumer data and marketers can get better visibility as they can create more targeted approach.
Accenture Interactive has provided some critical measures for entrepreneurs in order to harness the technology to re-shape trust regarding makers and buyers. The most important need for them is to educate themselves and their staff on the capabilities of the technology and its proper way of implementation. Another critical task is to design and style new devices for navigation that will simplify complicated company procedures and reveal transparency. Marketers have to merge with trusted associates to leverage blockchain’s benefits.