Technology has developed in a way that it can deliver us many things more than our expectations. With the advancement of technology, the contemporary world is acknowledging new technologies to enhance the power of life and living.
If you are already on the ground of Cryptocurrency trading, you know the essence of Blockchain technology. Blockchain is basically a way of storing and recording information that cannot be converted or manipulated.
If you have not experienced trading through Cryptocurrency, you will be able to do that through bitcoin up. This will also enhance your understanding of the Blockchain process and its efficiencies.
In other words, it is a digital ledger that can be distributed and duplicated in various network systems. For instance, if you perform a transaction, that transaction will be recorded in the Blocks with an anonymous nature. So, basically, anyone will get the transaction information, but you will remain incognito.
Implementation Of Blockchain In Digital Marketing
Digital marketing is the advanced process of marketing in the 21st century. We are dealing with the digitisation process to make your life easy, whether it is shopping, delivery, or selling.
Digital marketing is yet on the verge of innovation, and Blockchain might be the future of it. It has the ability to change several aspects of digital marketing. AI and analytics have changed the concept of marketing, and Blockchain is going to add something extra to it.
Every industry will want to get the best out of Blockchain, and thus the technology is getting rich. Sources suggest that Blockchain will grow to £ 13.17 billion by 2023.
The marketers are also concerned with the new aspect of Blockchain- exit intent popups. They are willing to adopt this process to advance their conversion rate.
Pros Of Blockchain In Digital Marketing
The wait is over!
Now we are going to acknowledge the advantages of Blockchain technology in digital marketing.
1. Eliminates The Middlemen
With Blockchain, you can forget about middlemen like Google, Facebook, et cetera. It will be beneficial for both the consumers and the marketers. Markets will pay less as they do not have to pay the middlemen for ads.
On the other hand, the consumers will be able to purchase or sell data directly to the publishers.
2. Improves Security
Security is a big concern in this digital world. People are getting annoyed with the manipulation of data breaching and leaks. We need to get a proper solution for virtual marketing.
Blockchain will keep your data safe and secure and advance your process of transactions and marketing.
3. More Transparency
Modern people are more aware and want to be responsible environmentally and socially. There is nothing more exciting than knowing the whole process of product creation. We do not have any confirmation on the claims of the companies.
With Blockchain, every step will be measured and stored, and we will be able to understand the environmental and social aspects.
The Cons Of Blockchain Is Digital Marketing.
Now you are aware of the key benefits of digital marketing with Blockchain technology. Is that enough to adopt the technology instantly? Not before you know the disadvantages.
There is a chunk of disadvantages we have for you with Blockchain.
1. Data Can Be Controlled
The data traffic can be easily controlled by a company when they have more than 50% nodes. It will be very annoying for the other companies in the market, and market tension with digital marketing will rise.
2. Not Economically Rich
The cost of digital marketing will be very high when you go to implement the Blockchain process in it. The hyperledger feature is costly, and that might give tension to the investment process.
3. Consumes Huge Energy
The optical and mechanical energy consumption will be very high with Blockchain. The miners will have to look at every step and process, and that will consume huge energy. This is not good at all for the digital marketing process.
Advancement Is The Key
Of course, Blockchain will advance the digital marketing process in various ways with some pitfalls. Marketers need to consider this process with proper market analysis.
What are your thoughts after reading this article? Flame in the comment box with genuine reviews and unique thoughts.