The Blockchain system was originally conceived as a technology that would allow the exchange and transactions of cryptocurrencies. BitCoin, the first decentralized cryptocurrency, was the main driving force behind the creation of this innovative system that is beginning to revolutionize many other sectors.
By using a “p2p” (peer to peer) network, there is no need for a single administrator, as in traditional currencies, but all users are administrators. This makes these transactions more secure since intermediaries do not keep your data or can trade with it.
A system based on freedom, impartiality and consensus
The system is decentralized, with people at the epicenter and taking on the role of traditional banks. Therefore, no intermediary has the power to control the value transmission chain, the management model is independent and is based on cooperation and distributed power without traditional authorities being able to exercise control. Since traditional authorities and organizations have no control, the exchange value is established by fluctuations in demand.
Blockchain technology is based on purchase employment data consensus, since all users have the same information, it is automatically declared as true. Each user is called a “node” and they connect to each other in a network (p2p). Users communicate with each other using “tokens” which are the representation of the information. These tokens are grouped into blocks and if a token does not fit in a block, a new one is generated and stored in it.
The objective of Blockchain is simple: it focuses on verifying existing transactions between cryptocurrencies. But the limits of Blockchain do not end there, there are multiple uses that are already being carried out, for example in transport companies, fintech (financial services such as electronic banking), health services... The applications of this system are endless, this technology can be implemented in any type of transaction between people, organizations, companies...
Blockchain and digital marketing
Among its many applications, in digital marketing it could be used to create a decentralized “network” for managing SEM advertising campaigns without intermediaries. In this example, the users who form part of this network would be in charge of validating and distributing these campaigns, being rewarded for this task.
It could also be applied to online purchases, allowing any product to be tracked from its manufacture to the final consumer, certifying the entire process and avoiding product counterfeiting.
These are just a few examples of the many ways in which Blockchain can be applied to increase trust in the digital environment with the aim of benefiting the user. In the near future of the Internet, Blockchain will play a leading role. Above all, it presents itself as a great opportunity for those companies that are ahead of the curve and pioneer in implementing this technology in their processes.
