Martech Outlook | Monday, September 20, 2021
Since data is the key factor for digital marketing, blockchain helps in gathering quality data without threatening its integrity.
Fremont, CA: Blockchain is one of the most prominent technologies of this century that is capable of revolutionizing and upending the existing businesses models in a wide range of sectors. Even though blockchain is a term usually seen associated with cryptocurrency, or the finance sector as a whole, there are huge opportunities for blockchain in diverse sectors, including digital marketing. While marketers have already been leveraging technologies like artificial intelligence (AI) and data analytics extensively for better operational efficiency, blockchain is one technology that has been gaining momentum lately.
One of the reasons for blockchain’s rapid growth is the very nature of transparency and security of this technology, which can significantly improve customer experience. There have been always been concerns about privacy while businesses collect customer data for analytics. Blockchain ensures transparency, assures data integrity, and safeguards the data from tampering or fraud risks on that front. Improved transactional security is another added advantage of blockchain. Every transaction made is verified and publicly visible with the technology, which eliminates the risk of comprising financial information. At the same time, the anonymous nature of these transactions shields the identity as well.
Interestingly, small companies can hugely benefit from employing blockchain in their business operations. Blockchain helps to gain trust from the customers and foster loyalty among them. This also aids them in leveling the competition with many established companies. Meantime, the trust in blockchain technology is accelerating the acceptance of cryptocurrencies. Sooner or later, cryptocurrencies will be mainstream and will eliminate the risk of bad credit cards, forged checks, and chargeback issues in the sector while doing transactions.
Blockchain is one of those technologies that can bring revolutionary changes to the business world. Going forward, blockchain will expand to and reform many segments in the domain. In a way, blockchain can indeed be considered as the future of business and digital marketing.
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