The Blockchain Technology and Digital Marketing
Copyright © 2023 Journal of Business, Economics and Technology. All rights reserved.
Abstract
This paper reviews the literature on blockchain technology in light of digital marketing. Along with a glance of the current state of the disruptive technology, it highlights specific characteristics of that technology that is revolutionizing business practices. To demonstrate the wide-ranging effect, this paper presents applications of blockchains in different areas of business, such as financial services, supply chains, health care, tourism, location of shipments, disintermediation of third parties for investment growth, and smart contracts to execute secure transactions on exchanges. Specifically, digital marketing is emphasized within the environment of social networks, such as Facebook, Twitter, YouTube, LinkedIn and Instagram, by examining its potential benefits in many commercial contexts. Based on the behavioral data of customers within social networks, this paper also describes the current state of digital marketing and its future trends. A conclusion derived herein is that blockchain technology will consistently influence future operations of digital marketing, social media marketing (including influencer marketing), e-commerce, and analysis of networks.
