Having blockchain is now a marketing strategy
It's not useful everywhere, but people still have it
Blockchain technology pretty much blew up over the course of the last couple of years. Developers started immediately switching their focus from AI to blockchain and companies stated adopting this technology genuinely believing that it was a useful tool to have.
Now, the large majority of companies that became blockchain-optimized did indeed find some value in the addition of this technology. More secure customer files, faster transaction systems, and numerous other benefits that this technology brings to the market.
However, there are other companies that claim blockchain optimization when they don’t necessarily need it. But why? Because blockchain is now a perk rather than a feature.
That’s right, a large number of tech or retail companies now adopt this technology as a marketing campaign. They believe that it is something to be used to bring out the uniqueness of their company in the wake of others that refuse to use it.
But here’s the deal. Those that refuse to use blockchain, often don’t need it at all, thus they avoid any unnecessary costs and complications to their customers to use their platform.
Is this good for the industry?
No matter if a company requires the blockchain or not, it is still perceived as a positive thing for the industry. In fact, according to Bitcointrader, a Bitcoin trading robot, the more companies embrace this technology, the more they will be able to grow themselves.
This perception is shared by almost every other crypto company as well. Having an increased customer base of people who are aware of the technology makes conversions much easier and accessible.
In the past, almost every single crypto company, be it an investment platform, an exchange or a trading robot had to dedicate a specific project to the education of potential customers. Now though, it’s most likely going to change as the education becomes more and more accessible for the average user.
Sure, it’s not expected for the market to soar within months of development, but over time, let’s say around 5 years it is likely that the whole world will have been exposed to the blockchain, thus making crypto startups as relevant as they were back in 2017.
How does blockchain marketing work?
One very specific thing that companies do when they outline their blockchain optimization is advanced security. Although it’s true that this technology does indeed help with personal data protection, it is very unlikely that regular companies provide this kind of service.
Most regulations all over the world require retail companies to constantly supply customer activity data in order to prevent any money laundering or illegal activities through these platforms. Having a blockchain platform is most likely a way to speed up the transactions for the company themselves rather than the customer.
We all know that the moment we click “buy” is when our card gets charged and the process of waiting for the package to arrive starts. For the company though, it’s a much longer process of waiting for the payment to be processed and appear on their account. With blockchain, they can enable much faster processing, thus giving them opportunities to avoid unnecessary risks in that small gap between sending the package and receiving the payment.
Blockchain adoption could be the gateway for multiple startups to engage their business activities without being dependant on investors and fundraising.
In most cases, whenever startups, so to say give into the appeal of having investors just to get up on their feet, they're in a sense giving up their identity as a small company. This may sound a bit controversial, but I believe that whenever a small company finds an investor, especially a big company, it immediately switches its values from delivering good products to their customers to saving money on every little detail they possibly can and increase their profit range.
Blockchain has the potential to remove that dependency from private investors and allow entrepreneurs to immediately enter the market and slowly but surely start growing their brand. It will be a great way to guarantee innovation as actual entrepreneurs don't get discouraged from their projects as they pretty much get employed in their own company once investors start showing up.