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Blockchain 101: What Digital Marketers Should Know

by Maren Williams  |  
March 21, 2018
  |  4,464 views

You might have heard the term "blockchain," and you might even know how it works (kind of).

But how is blockchain fundamentally going to change marketing as we know it?

The rumors are true—blockchain is here to stay—and it's time to truly understand its scope and impact.

Let's review a quick glossary of terms

First things first: blockchain is not synonymous with Bitcoin.


Now let's get to the basics before we move ahead:

  • Blockchain is the technology that enables cryptocurrency to exist. Essentially, it records cryptographically bound transactions between peer-to-peer networks. Blockchain's security works because it's encrypted and decentralized.
  • Cryptocurrency is the method of exchange, such as the US dollar, in digital form. Cryptocurrency involves encryption techniques to regulate creation of monetary units and to verify the transfer of funds.
  • Bitcoin is the best-known type of cryptocurrency. Blockchain technology was invented for this type of currency, but there are other currencies, such as Ethereum, Ripple, and Litecoin.

Here's a fun video from PCMag that explains how Blockchain works:


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Maren Williams is a content creator for the Oracle Data Cloud blog. Oracle Data Cloud helps advertisers connect with the right customer, personalize interactions, and measure the effectiveness of each engagement.

LinkedIn: Maren Williams

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Comments

  • by Dmnitrii CJIO Wed Mar 21, 2018 via web

    My appologizes. Why there is nothing said about value and marketing "trends" in genereal

    I wonder!

  • by Becky Wed Mar 21, 2018 via web

    I would love additional articles on this as my understanding of it is not where it should be, yet I know we email marketers need to be in it. Thank you for this article.

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