- It is said that Blockchain is the future of the Internet.
- Digital Marketing! Is it one of the main reasons for growing blockchain?
Blockchain is a technology/platform used for storing the database-providing digital ledger and distributary ledger with a lot of security chained together. It is immutable, that means, you cannot change or alter the stored database.
It is a technology used for storing data in digital form in the blocks, and so termed as blockchain. In order to understand it more clearly, it is more like google docs or Spreadsheet, where the data is stored and spread to numerous networks to share the information.
Future of this Technology!
Blockchain is said to be the future of the internet; for various reasons. Some of them, which are very well known are
- Digital Marketing
- Smart Contracts
- Web Servers
This technology helps keeps the record of the transactions and aids to keep track of the same.. What happens is, when you keep the record yourself you are making extra efforts and some people keep third parties for doing it, which indirectly increases the cost.
Smart contracts, the digital form of contracts which helps in keeping record of the transaction. This helps in keeping the records and maintaining relations with consumers as well.
It is often seen that people consider Bitcoin and Blockchain as a similar or same thing, but actually it’s not. Bitcoin is a crypto-currency and Blockchain is a digital platform for storing the transaction. While storing it uses two kinds of keys- Private keys and Public keys.
Blockchain uses ALGORITHMS- PoS and PoW. In PoW miners solve a puzzle to get a reward and creations of the block. This algorithm creates a block and secures the block that is created .PoS is another alternative algorithm for the Blockchain in which miners have to lock up some portion of coins in order to earn rewards and create a block.
Working on Blockchain- Digital Marketing?
Because of the security,scalability and transfer of money to confidential information storage it is secure and said to be the future of the internet. It is helpful in digital marketing as it provides easy access to the consumer market.
Since it provides transparency,it helps in providing necessary and correct information of the employees as it is decentralized at every node.It also builds trust, and accountability for making decisions.
As per the digital age, it is important for the banking industry to develop and grow in the field of decentralization. One of the easy ways to cope up with the digital age is to adapt blockchain technology, so that banks can provide transparent and secure ways to the public.
So the bottom line for this article is-yes, digital marketing is one of the reasons for decentralized internet, also it provides a secure and transparent way to initiate transactions.
banks can offer more secure and efficient ways to their customers and can grow themselves with technology. Blockchain can revolutionize various industries and it is the future of the internet.