The Bitcoin / Blockchain Storm Will Completely Change Digital Marketing As We Know It.
The only constant thing about things, is that they change. Currency is no exception. Traditional currencies suffer obvious setbacks such as:
- They could easily be forged, stolen, hidden and destroyed
- They are heavy and voluminous and require regular high-cost physical transportation
- Paper money can be undeclared for corruption and tax avoidance reasons
- Their value is dependent on many factors including decisions of states and banks.
- For every transaction, no matter how small, you need an intermediary, a bank or credit card.
This has lead to a change: someone calling himself Satoshi Nakamoto released a trust protocol and a currency that is not a national one, not controlled by any government or central body, can be easily traced and exchanged, has no to almost inexistent carbon footprint and is hard to forge or steal.
The technology genie was definitely unleashed from its old lamp.
- What is missing to give bitcoins their full potential?
Blockchains: digital ledgers where transactions in bitcoin are logged chronologically and publicly.
- What is the outcome of blockchains?
Mainly, transparency. It gives a view of the movement of bitcoins and similar currencies in a way that makes it extremely difficult to tamper with or forge.
- How does that impact digital media?
Hugely. Think well.
Let us give an example: Millions of people around the world say they would have donated to charities if they could know for sure the money will be used as intended. There you go! Blockchain literally make it impossible to forge where your money went. So what? Every single donation can be traced to a surprising level of detail. This can literally catapult the outcome of an incalculable number of projects, charities and endeavors online.
Blockchain acts as an open-source distributed unforgeable database using bleeding edge cryptography can efficiently and reliably facilitate all sorts of collaboration and tracking of transactions and interactions at all levels. This is not simply replacing the paper money with digital currenc