Blockchain, the technology that enabled the creation of cryptocurrencies such as Bitcoin and Ethereum, guarantees security and transparency at the highest levels in transactions and processes. What are the new possibilities that open up for marketing?
In an increasingly interconnected world, where the exponential sharing of information generates many difficulties in distinguishing what is true from what is false, the need for secure and certified data is becoming stronger and more widespread.
The increasing need for reliable content is a response to the spread of unethical behaviors, such as the distortion of facts and the diffusion of wrong information, which leads to the problem of fake news.
And there is more.
Even for companies, the difficulties associated with guaranteeing the authenticity of information inevitably result in additional costs linked to the need for monitoring and controls.
When Bitcoin came into existence more than 10 years ago, not only the first reliable digital currency but also of the first architecture based on trust and automation were created.
The internet has been a great catalyst for information, whereas the blockchain technology represents the same for trust. What makes the blockchain an extremely reliable and efficient technology is that it is a shared registry set to create unique and non-duplicable assets while guaranteeing and certifying the complete history of all data and transactions.
The blockchain system allows you to absolutely trust the information that it contains. The data stored on the blockchain are, in fact, shared, accessible, and distributed by all network participants in an immutable, transparent, and secure way, without the need for a central government entity.
The great interest of companies in the blockchain derives precisely from its ability to transfer value and information in a secure and traceable way. This characteristic not only offers significant opportunities for efficiency in the production chain (by tracking of raw materials and products) but it also opens new possibilities for companies to build stronger relationships with their customer base and become more trustworthy.
As mentioned above, the blockchain is able to create unique digital assets. An encrypted token on a blockchain represents, in fact, a unique and non-interchangeable asset.
Ensuring the uniqueness of a digital asset means that it cannot be shared and reproduced by others except by its author. This implies, as a consequence, that content creators can get proper recognizing and can preserve their leading role.
In this way, copyright protection on the web can improve greatly. Users can finally reclaim the content they share on the internet without the fear that it may be re-shared or modified by others without authorization.
Source information binds in an indissoluble way to the content, ensuring ethicality, transparency, and greater accountability for all internet users.
But what about promotional content created by companies? What are the advantages offered?
Marketing has always followed technological evolutions at the same pace, and this also applies to the blockchain.
Today it is normal practice for companies to use the internet to promote their business all over the world by sharing content and making their voices heard within social networks and other platforms.
However, it is difficult for small businesses to gain visibility, especially if there are larger players already established in the same sector. Many consumers are understandably wary of companies they have never heard of before, also because they are often confronted with poor quality products offered online. Consumers have become more suspicious and it is hard to gain their trust.
With the blockchain, reputable companies will be able, regardless of their size, to quickly build a relationship of trust with their audience. If you are able to gain the trust of your customers, you can build and maintain your brand’s reputation and credibility.
Thanks to this technology, companies will have the means to demonstrate where the products come from and to promote their business by validating the communication to guarantee its authenticity. This will help customers have greater guarantees, so they will be more willing to buy from companies that are certified subjects compared to other non-certified competitors.
Consumers, in fact, will feel more protected when they buy something on the web, because they will be sure that the quality descriptions of the products or services offered will be validated by a company able to take full responsibility very transparently for what it communicates. Consumers will be able to have a communication similar to a “face to face” exchange with the company. This can add significant value in a fragmented and globalized market context such as the current one, especially in the digital communication field, which is extremely pervasive in everyday life but also perceived as more “distant” and increasingly less reliable.
Certified marketing can bring more protection for the consumers and boost the business of companies that will adopt more ethical and transparent behaviors. These companies will be rewarded by the purchase choices of customers who will be increasingly attentive and sensitive to the issues of responsibility and quality.
And there is more to this. In order to tackle the problem of fake news and misleading content, in the future, search engines and the various online platforms themselves will reward validated content with greater visibility.
The LKS Foundation, an Italian non-profit organization that aims at raising public awareness about blockchain and copyright protection issues, wants to create a system in which content ownership and the identity of the source are connected and registered according to the fundamental principles of the blockchain, through a unique and irreversible transaction.
For this purpose, the LKS Foundation wants to create a particular type of token, a Non-Fungible Token, that is not interchangeable, constituting an unequivocal proof of authenticity and ownership in the digital world.
Through this NFT, it will be possible to combine in a single transaction on the blockchain:
- the identity of the person who deposits the content;
- the place and date of the content creation;
- the digital content itself;
Thanks to this process it finally becomes clear and certain who the creator of a digital content is, when the content was created and where it was created. The registration on the blockchain allows you, in fact, to unambiguously and irreversibly trace back to the initial transaction which stores information about the creation of the digital content (and therefore also about its original creator).
What we are talking about is a real blockchain-based model that solves the delicate problem of transparency, trust, and security of information shared and disseminated on the net.
To raise the funds needed to finance the creation of the NFT, the Foundation has launched a Token sale on the crowdfunding portal Eidoo Crowd for the LKSCOIN cryptocurrency developed by the LKS Foundation itself. This cryptocurrency, successfully tested within the platform Cam.TV was put on sale on Eidoo Crowd at a fixed price of 0.01 Euros, before being launched on the market.
The ongoing campaign, which started on 30 March, will end on 30 June 2020 with the effective positioning on the cryptocurrency market. From that moment on, its value will, therefore, be subject to market changes.
The goodness of the use of the cryptocurrency, created to allow users to send and receive compensation for content shared within Cam.TV has been amply demonstrated thanks to the users of the platform (currently 360,000, but this number is constantly growing) who carry out from 30,000 up to 70,000transactions LKSCOIN per day.
In Cam.TV, in fact, the cryptocurrency is used to buy or demonstrate appreciation – similar to the likes of social networks – for the contents published (video courses, consultations, articles, videos, and so on). At the same time, nearly 900 Masternodes keep the blockchain safe and stable.
Federico Olivo, President of the LKS Foundation, commented “We have received great interest in our project, both from individual users and from companies. We are aware of the existence of very sensitive issues nowadays such as the protection of copyright online and the difficulties in monetizing contents that are created and shared on the internet. We are really excited to launch and test the LKSCOIN cryptocurrency in the free market, given the numbers and potential that it has already been able to demonstrate within the Cam.TV platform.”