Blockchain’s effect on marketing
Seismic shifts in trends and technology happen during the careers of most marketers: in the 1990s the introduction of the World Wide Web and then e-mail revolutionised the way we worked and communicated. The introduction of the Internet shortly thereafter opened a whole new world for marketing. Around a decade later yet another seismic shift occurred with the introduction of social media, which moved the balance of power from brand owners to customers, who now had a voice. Fast forward yet another decade and we have Blockchain and the digital currency underlying it, Bitcoin. Investopedia defines Blockchain as a public ledger of all Bitcoin transactions that have ever been executed. What makes Blockchain technology so unique is the fact that it has no centralised authority – in fact, no single party or organisation has control of it – which, ironically, makes it one of the most secure systems globally.