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Blockchain Technology Transforms Digital Marketing by Growing Consumer Trust

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Abstract

Surges in the use of e-commerce channels, together with smartphone apps, have catalysed the rise of business-to-consumer commerce, changed the nature of businesses and the way they generate value. These emerging innovations also modified the nature of brand marketing, making it easier to have a larger scope and more targeting to improve brand confidence and increase consumer loyalty. Today, the Internet makes it possible for businesses to go further into their current markets, develop new virtual markets and create new demand. Such diverse consumer interaction uses emerging tools to concentrate on the audience in more granular ways. In this study, the use of Blockchain technology is discussed as it is projected to affect digital marketing practices. Blockchain technology promotes disintermediation, combats click manipulation, fortifies trust and accountability, guarantees privacy safety, empowers security and encourages loyalty services that deliver exclusive experiences to their consumers. We demonstrate how Blockchain technology functions as an evolutionary breakthrough that empowers a consumer-centric mentality. In this chapter, we look at the potential of Blockchain technology from a marketing point of view. To understand the role of trust in Blockchain adoption in digital marketing, peer-reviewed articles were selected using the following search terms: ‘Blockchain’, ‘big data’ and ‘digital marketing’. This review of the literature found that trust is a key driver to consumer–brand relations when implementing Blockchain technology in digital marketing.

Keywords

  • Blockchain
  • Technology
  • Trust
  • Digital marketing
  • Advertising
  • Marketing industry

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Rabby, F., Chimhundu, R., Hassan, R. (2022). Blockchain Technology Transforms Digital Marketing by Growing Consumer Trust. In: Idrees, S.M., Nowostawski, M. (eds) Transformations Through Blockchain Technology . Springer, Cham. https://doi.org/10.1007/978-3-030-93344-9_12

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  • DOI: https://doi.org/10.1007/978-3-030-93344-9_12

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