Mapping blockchain applications : a typology for digital marketing

Abstract

Blockchain technology is an emerging opportunity that is earmarked to fundamentally transform the marketing industry in its various facets such as advertising, trust, security and loyalty. This study shall attempt to form a typology of the current and upcoming blockchain applications highlighting the main areas of interest. A synopsis of the latest marketing innovations within this technology is included.

This research takes a unique role within the marketing and blockchain community, such that it identifies, maps and integrates these two industries. Potential improvements such as immutable code, algorithms, a shared ledger and decentralised storage shall assist in addressing long standing issues. Due to the relatively new nature of the industry the selected data collection and subsequent qualitative survey was conducted through an in depth online content analysis. Results were recorded to form a dataset, and the main areas of interest eventually coded and extracted. Results showed that the batch of applications are focused on the decentralised advertising industry.

As a follow up to the preliminary data collection, semi-structured interviews were also conducted to further probe the marketing industry’s perception and prospects of the results. These interviews further reinforced the study's findings. Finally, both the conceptual and methodological challenges faced to implement the solutions were identified, addressed and discussed.