Blockchain is the ultimate technology called to revolutionize the communications field. Digital identity could become the business keys for the future. But how?
Blockchain technology has come to stay and its already changing many sectors by leaps and bounds. Blockchain is a safe macro-database that can be used with all types of transactions, not always monetary ones. Its main virtue is that every transaction is verified by different users.
How does Blockchain work?
- Transaction: two parties want to exchange a value unit and start a transaction.
- Block: the transaction is sent with other pending transactions, creating a “block”. This block is sent to the computer network which are part of the system.
- Verification: these revolutionary computers, also knowns as “miners”, value the transactions, and through mathematic calculations, determine if they’re valid, based on previously agreed rules. The transaction is then executed by the two parties.
Therefore, blockchain manages to eliminate intermediaries and gives the users control of the processes. For instance, this tool records how many times an ad has been seen, as well as the nature of the source which generated it, improving transparency. This technology also makes it possible to verify what information is true and to reduce the cost of issuing and storing all this information.
On the other side, this tool facilitates control of the publications’ life cycles, from the moment the content is written until it is published in the media. This will also allow to measure the specific audience that every content generates.
Currently, some outlets can publish an article with the cryptographic stamp of the journalist, making it possible to see who the author is in any social network.
Will blockchain be the future of communications?
There are communications firms that already use blockchain technology to register and to store advertisement impressions in real time. This way they guarantee to the advertisers that they are only paying for the ads that are consumed.
All this forms part of the new communication trends that are emerge, grow and develop completely driven by the new technologies that have revolutionized the digital era. As in every revolution there are always bridges and alliances between the world of the past and the world that is born. So Blockchain Media will have to live together with the communicators.
Specifically, in the world of PR agencies blockchain allows to encrypt and store the proposals to customers as a transaction on a platform designed for it. That way, data like the date and the authorship can be recorded, enabling open and secure digital narratives to be generated.
This makes the brand stronger and would eliminate consumer’s fear to be scammed and buy something fake.
What is clear is that this platform will open the windows for fresh air to enter the communications sector and will make emerge new business models. Communications professionals will use blockchain technology the same way we have been using emails the last decades.
Blockchain and its application in social networks
To use blockchain in the future we will need to have a single and universal password, which we will use to use social networks. If all our information were stored in a Blockchain net, the anonymity in social networks, known as troll, will come to an end. This would improve the user’s security.
In this new blockchain world, every person or entity owns their data