Digital Marketing is set to explode as it meets Disruptive technology, which by definition, will indeed disrupt anything in its path. But the biggest disruption in the Digital Marketing sector may not just be from the obvious sources, such as the effects of Artificial Intelligence or AR. It could well be something less obvious - Blockchain Technology.
As we know, Blосkсhаіn is a ѕhаrеd dіgіtаl lеdgеr, which can be employed to secure almost any digital asset. Although initially created to record Cryptocurrency transactions, it can now validate many other types of trаnѕасtіоnѕ between twо parties. In online Digital Marketing, it will therefore help to create and build, perhaps one of the most important things between a buyer and a seller - trust.
Authenticity helps to create Trust
One of the main benefits of Blockchain for the consumer and for the genuine seller with nothing to hide, may well be its ability to guarantee product authenticity. Putting things bluntly, too many people are being ripped off today, with counterfeit or even unsafe products and on occasions maybe even stolen goods.
There are millions of products sold globally online every day, not just by the big names, but on Millions of websites. This gives many opportunities for fraudulent trading by unscrupulous sellers and begs many questions such as: Is that Organic food really organic? Does your Vitamin tablet actually contain vitamins? Is that designer label handbag genuine? Is that Fairtrade pair of jeans really produced in a fair trade environment, or are they made by slave labour in a sweat shop?
Quality & Integrity
With blockchain, consumers can now interact with progressive companies who are able to digitally verify exactly what's in a product, where it was made, where it was grown and even who made it and under what conditions and pay structure etc. Today's consumers are increasingly looking at these things, which not just guarantees the quality of the goods, but about the very integrity of the company they are dealing with and how it deals with its people and its supply chain. All of these things affect the very quality of any product or service.
Another unusual but excellent example. A London based precious stones company has taken steps to ensure that their ethically mined diamonds can be distinguished by others, that may be mined in conflict zones under forced labour etc, sometimes known as blood diamonds. They ensure this distinction by digitally inscribing them with a Blockchain ID
The validation and protection that Blockchain offers is not just for product purchases. Blockchain technology is even today being widely used within many services in areas that many of us may not be aware of, including Health, Policing, Security, Fishing, Farming, Education, Transportation, Insurance, Immigration, Real estate. More and more Legal agreements and government transactions are being made using self-executing Smart Contracts written for Blockchain applications.
Charitable Donations
Those of us who donate to charity, will surely be interested in the following. The United Nations is using the Ethereum blockchain, to help to ensure that the donations that it receives from around the world, will actually get to the recipients that it was intended for and cannot be siphoned off by the likes of corrupt politicians, hackers and scammers. This is just one project and it will help the lives of more than 500,000 people. More initiatives are expected.
Going beyond marketing and commerce for just a minute, to me the above case represents the very best thing about Blockchain - I believe that in addition to creating trust, cleaning up online trading and improving the marketing function in general, this technology will truly help to stamp out corruption, greed, hunger and poverty.