International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 10 Issue: 06 | Jun 2023
p-ISSN: 2395-0072
www.irjet.net
Blockchain Technology: Its Impact on the Consumer-Centric Model in Digital Marketing T. Amalraj Victoire 1, A. Karunamurthy 2, M. Vasuki 3, A. Syed abuthakir4 1 professor, Department of Master Computer Application, Sri Manakula Vinayagar
Engineering College, Pondicherry-605 107.India
2 Associate professor, Department of Master Computer Application, Sri Manakula Vinayagar
Engineering College, Pondicherry-605 107.India
3 Associate Professor, Department of Master Computer Application, Sri Manakula Vinayagar
Engineering College, Pondicherry-605 107.India
4 Student, Department of Master Computer Application, Sri Manakula Vinayagar
Engineering College, Pondicherry-605 107.India -----------------------------------------------------------------------------***-------------------------------------------------------------------Abstract The segment will delve into the fundamental principles and mechanics of blockchain technology and its impact on the digital marketing process. The discussion will also include the potential benefits of blockchain in enhancing customer engagement, reducing fraud and increasing transparency, and enhancing trust and loyalty between customers and businesses. Additionally, the section will explore the challenges and limitations associated with blockchain implementation in the consumer-centric model and the potential solutions to overcome them. The ultimate goal of this section is to provide readers with a comprehensive understanding of the benefits and limitations of blockchain technology in the consumer-centric model and its potential implications for the future of digital marketing., the paper discusses how blockchain technology can be used as a tool to enhance the consumer-centric model in digital marketing.
Keywords: Blockchain technology, Digital marketing, Consumer-centric model, Customer engagement, Fraud reduction, Transparency Trust.
1. INTRODUCTION Blockchain is a type of digital ledger technology that enables secure and transparent storage and transfer of data. Unlike traditional centralized ledgers, it is a decentralized and distributed ledger maintained by a network of computers. In a blockchain, multiple transactions are recorded in each block, and these transactions are verified by the nodes in the network before being added to the chain. Once a block is added to the chain, it cannot be altered or deleted, creating a permanent and tamper-proof record of all transactions. To maintain its security, blockchain uses advanced cryptographic algorithms to link each block to the previous block, ensuring the integrity of the entire chain. While blockchain is primarily known for its use in cryptocurrencies such as Bitcoin, it has many potential applications beyond finance. It can be used in supply chain management, voting systems, and digital identity verification, among other things. Overall, blockchain technology has the potential to transform the way we store, share, and transfer data, by providing a secure, transparent, and decentralized system for managing information. 1.1 Blockchain in digital marketing Blockchain is a decentralized and distributed digital ledger that records transactions in a secure and transparent manner. While it is commonly associated with cryptocurrencies such as Bitcoin, the technology has many applications beyond finance, including in the realm of digital marketing. In digital marketing, blockchain technology can help to create trust and transparency by providing a secure and immutable record of advertising transactions. This can help to reduce fraud, increase accountability, and improve the overall efficiency of the advertising ecosystem. One potential application of blockchain in digital marketing is in the area of ad verification. By using blockchain to record and verify ad impressions, advertisers can ensure that their ads are being displayed to real people, rather than bots or fake accounts. This can help to reduce wasted ad spend and improve the accuracy of ad targeting. Another potential application is in the area of data privacy.
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