The marketing industry is developing in a rapid way being susceptible to changes and recent new technologies. And a new tech which the sphere has yet to adapt is blockchain spreading across the globe and industries, be it banking or even real estate.
Despite marketing specialists are already seeking ways to catch the wave of bitcoin raise and to apply the cryptocurrency concept to digital advertising and to running online marketplaces, the question still remains: how many blockchain marketing technologies have been created so far and how quickly are they being launched?
To shed light on this issue, the first Blockchain Marketing Technology Landscape has been launched today by Never Stop Marketing, highlighting the current situation on the market and the immense promise blockchain technology can offer marketers and advertisers.
Jeremy Epstein, CEO of Never Stop Marketing, told reporters:
If you have a basic understanding of the potential of blockchain technology — that it will disintermediate third parties — and you have a basic understanding of the current value chain of digital advertising (there’s a huge amount of waste, with 44 percent of every $1 going to middlemen), then it’s fairly obvious that the industry most ripe for disruption is adtech.
He believes that consumers might buy blockchain-generated tokens representing products or values, employing the power of rising and falling token prices — in a decentralized, self-regulating blockchain environment — to express their will.
“Instead of wearing a logo that says, “I’m rich enough to have this brand” or “I want to be like Mike,” we will offer a signal with the digital tokens we own and spend. Our online transactions (with privacy levels as we see fit) will communicate that “I support this cause, this community, in a way that empowers them economically,” – Jeremy added, noting that the growing popularity of blockchain technologies reminds him of “1993 and the Internet.”
What surprised me is how quickly such a large number of projects and startups have emerged to attack the lowest hanging fruit.
Every day, I hear about more of them, which is why this is not a one-and-done effort.
Still, there’re those, who compare blockchain to a bubble ready to burst, while others believe that the technology will remain under control due to the constant power struggle from the side of banks, governments, and regulatory bodies. “The decentralization genie (fueled by blockchain, but not limited to it) is out of the bottle,” – Epstein said, predicting:
No matter what China does or Jamie Dimon says, this wave of disruption is coming. It’s part of the reason we did the landscape in the first place, so people can understand what is about to happen.
The expert is sure: significant growth is coming, which would also bring a new set of issues to deal with:
We don’t need 10 different protocols for the adtech space, so people will have to assess if Papyrus, for example, is better than the others that I already profiled.
We don’t need all of them. Ninety-five percent of the tokens and coins around today will be worthless in a year or two. But the 5 percent that emerge as winners? Some of those could be trillion-dollar protocols. There will be short-term fluctuations, but this is a business model disruption the likes of which we haven’t seen in a long time, so I’m tracking and building on top of that trend.
The first Blockchain Marketing Technology Landscape is available from today on Never Stop Marketing’s website.