Everyone has that certain family member that invested in Bitcoin (or another cryptocurrency) – without knowing anything at all about it.
For my loved ones, that person was my brother.
Before he invested in Bitcoin, he or she probably should have come with me in order to Joel Comm and Travis Wright’ t Social Media Marketing World program on blockchain and cryptocurrency. This way he would understand the real value plus potential of this new technology, instead of just blindly jumping on a hot investment development.
One thing’ ersus for sure after hearing from Fran and Travis – blockchain plus cryptocurrency will revolutionize much of the entire world today, including marketing. Read on to understand why that is.
The planet Is Ripe for Disruption
“ Everything changes, absolutely nothing stays the same, ” Joel mentioned, using examples of disruption to show his statement.
Because the 1950s, we’ ve gone through computer mainframes that were the size of entire rooms to the Internet of Elements. We’ ve gone from Blockbuster to Netflix. Nokia to apple iphone. Barnes & Noble to Amazon . com.
Now, we’ lso are going from government-backed, printed cash to cryptocurrency. It’ s the following big disruption.
The cost of Blockchain & Cryptocurrency
Before we can understand blockchain plus why we need to care about it, all of us first need to understand what it is plus why it’ s such a big-deal.
Cryptocurrency & Bitcoin
Your money used to be really worth its weight in gold. With all the gold standard , the American dollars were backed from the quantity of gold we had in our federal government reserves. But that is no longer the situation. Our money is now backed from the government, creating a fiat foreign currency (legal tender in whose value is backed by the govt that issued it). And with the authorities printing more and more money, the buck has been devalued significantly over the last millennium.
Cryptocurrency, on the other hand, includes a limited supply and is decentralized. Regarding Bitcoin specifically, there are only twenty one million of them in existence. And people never be any more. Bitcoin proprietors don’ t have to worry about the value of their own coins decreasing because more are usually produced.
Bitcoin may also revolutionize payments. There are no more exchange fees because your wire has to proceed through several different banks. Instead, it’ t peer-to-peer (P2P) and instantaneous.
Here’ s where the real value of cryptocurrency is seen. The blockchain is a distributed, decentralized, public journal that records each and every transaction. This particular ledger cannot be edited or changed – it is immutable.
As Travis so eloquently put it, “ You can’ to cook the books with blockchain. ”
Blockchain is certainly honest and transparent. Two characteristics that aren’ t often connected with finance.
“ Blockchain is the single most disruptive technologies in our lifetime, ” Joel additional.
Why Marketer’ s i9000 Need to Care
For me personally, the aha moment during Fran and Travis’ session came whenever Travis said, “ Blockchain is really a database you can trust. Without query. ”
With all of the debate surrounding data usage, management, plus privacy today, this is why marketer’ ersus need to care. Any business which could benefit from credible, trustworthy, unhackable information should be looking into leveraging blockchain technologies.
In addition , our huge internet giants (i. e. Fb, Google, Amazon) are all looking into developing their own blockchains and marketers require note as it might impact your marketing, reach, or engagement on these types of platforms.
Disruption Is definitely Coming
We’ lso are in business to make money. The influence of cryptocurrency is coming and can span economies, markets, industries, companies, and our wallets. To adapt, online marketers need to take a close look at blockchain technologies and see where it can add worth to their business, strategies, or items.
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