A blockchain PR agency is a new concept which is receiving a lot of media hype of late. It coincides with the explosion of cryptocurrencies such as bitcoin. Some see blockchain as only relating to your finance’s others see it as a concept that can be used in all aspects of life and work So, what exactly is blockchain?
Blockchain is like an online register or record book where many people can verify cash transactions. Once a section or block is verified or signed off then it becomes closed and a new block appears. Each block however does form part of the next one, this enhances its security features.
Although it has gained a lot of its current reputation through financial transactions it can be used for other things. The online attraction of blockchain is that it is a currency and a way of transacting outside of our current banking system. If you travel from the US to the UK as an example, you wouldn’t need to change your currency and have to forego some of your money in commission. It suits people who do not believe in the current set up of government or financial systems.
How then, you may ask does this lend itself to business or PR, well this is a very good question. Well this could actually be done in a few different ways. The emphasis is on the quantification of results. You could apply blockchain, so you know that real people are reading the articles and that they are not being studied by bots. This means that the consumers as well as the professionals are able to withhold and share information with different people. This means that business could learn about their target audience and what they need and also how they behave online. This will give them a great insight in how to reach them and approach them and, dare we say, influence them. It could eliminate the need for advertising models.
However, care should be taken, its early days and like with cryptocurrency, the gains were massive in the beginning, but they have definitely slowed down now, and people have also made significant losses. In the current IT world trends and ideas can go as quickly as they come. At the moment blockchain is the new buzz for marketing, PR and even education and the arts. It has not been accepted by the masses as yet and the technology is still very new. The assumption for many is that blockchain will catch on all over the world. With the rise in technology and mobile phones and the way that IT has weaved its way into our everyday lives, it would be unwise to completely ignore the power of blockchain. It doesn’t hurt to consider how it could become part of your business model and working procedures, but it is equally unwise to not consider other methods and assume that blockchain will answer all your problems. The best advice is to have fingers in all of the pies and use all of resources and methods available to you.