1: Tighter security and more efficiency
Data breaches are a huge problem for e-commerce sites.
Major corporations like Target have had valuable customer data stolen – meaning they must spend time, money and resources ensuring security.
Blockchain helps solve the security problem by storing information in a decentralized network – so that data is connected, but distributed across multiple blockchains. One blockchain cannot be altered without affecting another.
This security system is superior to a centralized database …. Meaning that websites can spend less time on security and more time on improving business—and boosting profits.
2: Advertising that is more direct to the consumer
Blockchain also has the potential to transform online advertising by “taking out the middleman.” Consumers could be directly paid for their views using micro-transactions.
One new cryptocurrency called the “Basic Attention Token” provides a new model by which publishers are paid directly for the “attention” (not just conversion) of users. Publishers also receive 100% of the revenue, without having to share it with third parties like Facebook Ads or Google Ads.
Using blockchain also has the potential to make advertising more respectful. Consumers won’t have to worry about their personal data being sold and resold without their knowledge by retailers, resulting in unsolicited advertising.
Instead, blockchain will make advertising more targeted to prospects who have already given consent to specific brands or companies.
Blockchain technology could change the way you market your product or service … and increase your overall response and dramatically expand your prospect base.
Not only the private companies but government bodies are also looking for potential benefits of the Blockchain technology. Moreover, experts are engaged in finding new ways to utilize Blockchain in different industry verticals. Briefly, Infograins conclude that the Blockchain technology is going to widen its scope steadily. However, there are some questions that can be raised but experts say that all the questions will have their answers soon.Expect blockchain technology to continue to increase in popularity … and innovate new strategies and tactics for e-commerce.