When you hear loud voices proclaiming that a new technology is going to radically transform industries for the better, and a group of equally loud people decrying that same technology as either snake oil or even irredeemably sinister, you know that you’re onto something big. Perhaps even transformational. As thoughtful industry participants, this is a familiar situation. We’ve observed this with the advent of the internet as a consumer accessible experience and, later, social media and Web 2.0.
We’re at a similar junction today, so I will make a prediction: Whether you’re in consumer marketing or corporate reputation management, blockchain technology—the innovation that supports the Bitcoin cryptocurrency protocol and so much more — will have greater impact on the communications and marketing trade within the next five to ten years than social media did from 1995 to 2005.
A bold claim, perhaps? Not at all, really, when you consider what’s at stake, what’s happening today, and what is yet possible.
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