Advanced Use of Blockchain for Business and Marketing Improvement
A progressively augmenting demand for trust is observed within the global business environment of 21st century. Recent research sheds light on the disintegration of trust to brands on a global scale. Traditionally, trusted third parties take place to guarantee the trust needed for various business exchanges to take place. Digitalization, propels in peer to peer systems and cryptographic techniques have progressed to a point where transactions of currency, like Bitcoin, indeed esteem as within the case of ownership, property rights, securities, etc. can be conducted all over the Web with blockchain technology acting as a trust layer injected into the protocol. Blockchain technology acts as the missing trust layer in the evolution of the Web. "Blockchain is to trust as the Internet is to information" It can be regarded as the missing trust layer on Internet protocol. The implications of blockchain technology on business and marketing discipline from various aspects are investigated in this paper. Blockchain can be a favorable instrument that empowers brands and clients alike to bypass middlemen and to fashion concrete business bonds. Blockchain enables marketers to obtain reliable data, generate more enhanced analytics, and thus to craft compelling marketing campaigns. In a blockchain based marketing ecosystem, loyalty programs can be fully integrated and improved. The paper also points the key procedures that marketers need to utilize in order to compete in the rapidly evolving business landscape. Conclusions are drawn about the expected direction of business and marketing improvements as affected by these technological advances, resulting to an established perception that Blockchain technologies can profoundly change positively the economy, the society, the political institutions, and scientific activities.