Why Blockchain Could Be a Gamechanger

By

Blockchain has become closely associated with the controversial topic of cryptocurrency. And that’s fine because blockchain is an enabling technology of Bitcoin, Ethereum, and their competitors.

But, the value of blockchain is not linked exclusively to virtual currency. In fact, blockchain can enable a whole lot more.

A decentralized and encrypted ledger technology, blockchain provides a secure and verifiable way to store information without the need for intermediaries.

And lots of people think it’ll be a game-changer.

Blockchain technology is the single most massive disruptor to come along since the internet, says Robin Bloor, senior vice president of strategy for Algebraix Data. And he predicts it will have serious implications for entertainment, human resources, marketing, retail, and other departments and industries.

Bloor explains that Blockchain is important because it:

• allows for less expensive processing of payments;
• eliminates the need for a “trusted middlemen”; and

• removes the risk and uncertainty related to many activities involving implicit or explicit contracts. 

“In the dotcom era, the internet middlemen took over from brick-and-mortar middlemen,” notes Bloor. “Now they will be displaced by the blockchain itself.”

Advertising is another industry that should brace for blockchain disruption, writes Flackable founder, Brian Hart. But, he adds, that could prompt positive change for advertisers and consumers.

“First off, consumer data will be better protected because of added security with blockchain technology. This will limit demographic information from being sold without authorization. And consumers may even be able to own and sell their information to authorized companies,” Hart suggests.

“For ad buyers, blockchain could eliminate much of the guesswork required to mount a campaign. Blockchain is transparent and encrypted, so it can stamp out empty bot clicks and other threats that can saturate a campaign…. Trust and transparency are two elements vital to digital advertisers, and blockchain is likely the game-changing solution they need.”

To learn more about this important technology and what it means to you, join us at The Blockchain Event, Feb. 15-16 in Fort Lauderdale, Florida. 




Edited by Mandi Nowitz

Executive Editor, TMC

SHARE THIS ARTICLE
Related Articles

Make Social Media an Integral Part of Your Marketing Strategy

By: Special Guest    11/17/2020

Social media is an essential weapon any company needs in its marketing arsenal. Contrary to popular belief, social media is not an entity separate fro…

Read More

5 Ways to Reduce Customer Response Times

By: Special Guest    11/17/2020

Response time is a critical metric since it determines the levels of customer engagement with your brand. It also influences consumers' perception of …

Read More

How Will 5G Affect Online Casino Industry in Canada?

By: TMC    11/17/2020

If you are paying any attention to the telecommunications world, then you are likely aware that 5G technology is rapidly becoming the standard for com…

Read More

The software that powers online casinos

By: Special Guest    11/17/2020

The arrival of online casino software in the 2000s revolutionised the gambling industry. These days providers such as Playtech and hundreds of others …

Read More

Our New Normal: Looking Ahead to Business Recovery

By: Special Guest    11/16/2020

While the world is dealing with the worst health and economic crisis of the past century, there's been a subtle shift in the public narrative. We've m…

Read More