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What The Blockchain Revolution Means For CMOs Posted on Mar 13 - 2018

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It’s been hailed as a global revolution, and shunned as a piece of technology used by drug dealers and cartels. But in reality, blockchain (the underlying technology that enables crypto currencies like Bitcoin) is a fascinating piece of technology that has the power to change our world. 

Think of blockchain as a ledger that lives on every device on which it is installed. Whenever the ledger is changed, the information is updated on each device. This networked method of tracking information has supported the rise of decentralized currencies like Bitcoin and Ethereum.

But blockchain has a wide variety of uses that have already started to shape consumer expectations, go-to-market strategy, and data collection. Moving forward, the blockchain revolution will mean brands need to start positioning themselves differently in a world where decentralization and transparency are king.

Consumer Expectations Are Changing

Consumer expectations are already changing as a result of blockchain thanks to tools like HybridBlock, which provide laypeople with information about blockchain and cryptocurrencies. HybridBlock’s suite of products will educate and provide all of the tool to enter cryptocurrency as a novice and advance through the ranks to become more skilled and educated.

As consumers and companies learn more about the capabilities of blockchain, they will begin to choose products and services that operate in a decentralized manner. One Silicon Valley startup, OPEN Platform, provides a turnkey solution for blockchain integration between both on-chain and off-chain applications. What this means is that developers, marketers, and businesses can now build marketing tools and applications with minimal blockchain knowledge.

OPEN Platform CEO Ken Sangha says they understand the next wave of marketing applications and that CMOs will be focused on blockchain and cryptocurrency technology. "Much like mobile applications spawned the last generation of technology CMOs that’s why we’ve built OPEN in the most modular way possible, to appeal to the next generation of marketing application developers and the CMOs who will use them.”

But thanks to blockchain, the technology is designed to safely and transparently share data between a large group of people without needing centralized oversight to keep data safe.

Thanks to blockchain, customers can monitor how a corporation handles their data, or track the origins of a particular item. Blockchain gives consumers the platform they need to hold centralized institutions accountable. View More

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