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Book Sections Year : 2024

Current Advances on the Application of Blockchain Solutions in Digital Marketing

Abstract

The Blockchain is a common data record system that keeps permanent information about all transactions involving two parts. Blockchain consistently and dependably establishes the fictitious possession of each transaction that occurs. Once a transaction has been cryptographically verified and accepted by other participants, it is recorded as a “block“ of data on the distributed ledger. A block contains information about the transaction, the time when it took place, and its previous transactions. Transactions are arranged sequentially and cannot be modified after they have been recorded as a block. Blockchain technology sprang to popularity with the creation of Bitcoin, the initial use of this technology, which eventually sparked the creation of new cryptocurrencies and applications. Blockchain is used by both individuals and businesses because of its decentralized management, confidentiality, and immutability. Blockchain can create a decentralized system, promoting trust among parties, enhancing data privacy, and streamlining marketing processes. In this regard, this chapter will focus on analyzing technical details and examples of how Blockchain solutions have been applied in marketing. The application of Blockchain is expanding across several economic areas. Due to the abundance of available data, there are issues with big data, malware infections, and marketing frauds. The current study examines Blockchain application in the marketing sector and aims to identify important factors, research avenues, and concerns to suggest a potential research plan of new market perspectives for digital marketing solutions. We are going to present some of the applications of Blockchain in marketing and advertising. We will discuss in this chapter some contexts of the use of this technology in marketing and advertising management as well as how it may alter the combination of marketing strategies and procedures. We discuss as well as the advantages and difficulties that will come with the adoption of this revolutionary technology in marketing. The chapter concludes that persistent records are one of Blockchain's strengths, then investigates the possibilities that this technology offers regarding the opportunities and issues for marketing and consumer strategies. The chapter also proposes an examination of Blockchain technology, the use of customer data in marketing, and the potential privacy implications of the relationship between data, customer, and marketing strategies.

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Dates and versions

hal-04597225 , version 1 (02-06-2024)

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Sami Mnasri, Ahmad Hassanat, Mansoor Alghamdi, Malek Alrashidi, Thierry Val. Current Advances on the Application of Blockchain Solutions in Digital Marketing: Opportunities and Threats. CRC press. Advances in Digital Marketing in the Era of Artificial Intelligence: Case Studies and Data Analysis for Business Problem Solving, chapter 5, Taylor and Francis group, pp.1--18, 2024, 978-1003450443. ⟨10.1201/9781003450443⟩. ⟨hal-04597225⟩
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