LarsonSimmons's Journal

Jan 2019
8:49 AM IST

How Blockchain Technology Addresses the Hurdles in The Marketing Industry

Cryptocurrency is undoubtedly the most discussed topic since its inception. The technology is primarily used to carry out an online transaction easily and quickly. However, with the rapidly increasing demand and adoption in this year, the crypto market has experienced many cases of scams and fraud related to crypto trading. However, we are not here to discuss all these pros and cons or other news related to cryptocurrency. In fact, in this article, we are here to discuss the potential of Blockchain technology. This feature of cryptocurrency associated technology (Blockchain) address the challenges in the marketing industry.

Ways Blockchain Addresses the Challenge of Marketing:

It is notable that Blockchain technology is poised to impact various industries around us. It has the potential to successfully disrupt the ways industries operate and solve the issues of transparency, security, reliability and giving power in consumer's hands.

Targeting the Audience Data Made Easier:Blockchain works on the principle of the distributed ledger. The DLT (Distributed Ledger Technology) allows buyers and seller to cut out the middleman in the network. This elimination of middleman while processing any transaction on the network also eliminates the need of a third-party marketplace. So now rather than depending on any social media sites like Facebook or Google for information, Blockchain Improve transparency and allows brand building within the customer's base using the data available to them.

Reduce Cost: Marketing involves paying a lot of money on services that allow them to build a healthy relationship with clients and customers. These services allow them to build a direct link between the firms advertising their brands and their potential consumers. In such cases, Blockchain eliminates the use of intermediates that offers these services and reduce the cost of marketing, the biggest challenge in the marketing world.

Eliminate Frauds:The most common challenge faced by the industry today is frauds and scams that buzz around the tech world. In the marketing sector too, there are cases when sales advertising are backed by fake bots and virus. They provide the platform to hackers to hack user's data and perform frauds. Here Blockchain emerges as a solution and allows fraud verification, reduce market spending in order to secure users and improve their total spending.

Above mentioned are some of the ways, Blockchain is benefiting the marketing industry. As a marketer, we believe that you need to understand the latest information on Blockchain and application of Blockchain Africa. as this advanced technology has the potential to impact the marketing for today as well as in future and this is high time, you should come up to educate yourself.

Tags: blockchain, blockchain africa, cryptocurrency, latest cryptocurrency news, latest information on Blockchain

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Gender / Age: Male, 40

Location: South Africa