Marketing in the Digital World by Avinash Kapoor

Author:Avinash Kapoor [Avinash Kapoor]
Language: eng
Format: epub
Publisher: Business Expert Press
Published: 2020-12-07T16:00:00+00:00

Conclusion

Blockchains and their applications in marketing in the digital world have become a significant research area as these blockchains offer safe, anonymous, coded, validated, and encrypted decentralized algorithmic environment for public or private records of transactions, exchanges, contracts, and communications. Privacy, secrecy, data reliability, and other safekeeping aspects, along with scalability, are some of the issues and concerns that require immediate attention. Data security is the main thing to follow in the decentralized social media networks unless the existing centralized social media networks attempt to update their security- and privacy-related features. Nowadays people don’t even think twice before agreeing to their terms and conditions; this gives them full authority to use their data in any way they want. There are hordes of privacy issues when it comes to the major social networking platforms. The participants of social media platforms are prompted to see, use, and consume the paid information. However, users of such centralized social media platforms want safety and security of their personal information. Therefore, blockchain-based social networks are the future. They are the next generation of networks, which will help individuals in many ways: users will get control over their personal data, users will get better compensation for their contribution, users can regulate the advertisements they see, users will be able to moderate the content according to them, and users will get fast and cheaper payments from all over the world. Although the new digital world is progressively being propelled by the blockchain-enabled social media platforms and encrypted information processing for managing the requirements of smart cyber cities, smart energy grids, and so on, there is still lack of trust that prevails and reigns the minds and hearts of the users. The next chapter discusses the strategy to build trust through branding in social networking era.

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