“Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us.”
- Thomas Carper, US SenatorThis was five years ago. As awareness of Bitcoin and other cryptocurrencies grows, another word is creating a lot of noise, hype, and confusion: blockchain. According to Hubspot research, blockchain is the most difficult emerging technology for marketers to grasp, but there’s a lot of practical use for it. In this blog, Atomic’s marketing team discusses three practical examples of how it can be used by B2B marketers.
For those new to this space who want to read the basics of blockchain, refer to this excellent post by Mimi An and explainer video from IBM. In simple words, blockchain is the technology behind Bitcoin, Ethereum, and other cryptocurrencies. It has two parts: blocks of data and a chain connecting them all. It is a record-keeping public ledger, where transactions are recorded and visible to everyone within a network. The data is secure (decentralised network), unalterable (protected by cryptography) and permanent. While everyone in the network can view the data, they cannot edit or delete it.Although its application started with cryptocurrencies, blockchain technology is not just restricted to financial markets and can indeed be applied to any business or industry. Blockchain technology will play a huge role in the future of digital marketing and marketers must keep an eye on this emerging technology. Here are the three doors that blockchain could open in the B2B marketing world: