Blockchain technology is a complex and vital part of the internet today. In a digital world that has seamlessly evolved from using the internet to exchange emails to relying on e-channels for banking, shopping, education, and investments. Blockchain is the security in technology that everyone has been looking for, since the advent of the digital age.
While certainly not being a household name in technology that can be handheld or experienced; it’s a complicated and niche technology that needs to be explained. Blockchain technology is a potent hidden opportunity for communication specialists as businesses gear up for future innovations and technology forecasts to ride high on this digital ledger. While it is dramatically reshaping the e-finance world, it needs to be deciphered appropriately and timely to build awareness. If PR and communication specialists mediate to educate and explain its real-world applications; Blockchain technology will overcome the challenges of distortion and reputation.
There’s no denying that currently there lies skepticism as most of the general public isn’t aware of Blockchain and its usage. To establish Blockchain as a mainstream term, it needs a start by helping users understand the technology in simple language. Its straightforward dictionary meaning is a digital ledger where transactions are made in Bitcoin or other cryptocurrencies and are recorded chronologically and publicly!
This technology has two interesting aspects to it – block and chain. Every time a transaction is made, it is linked to the previous one to create a block in the chain. It interlinks the data in a unique sequence making it almost impossible to tamper with and provides a secure transaction environment for parties involved. An incorruptible digital ledger that can be programmed to record, Blockchain can withhold not just currencies but virtually everything of value!
Since Blockchain can be used for an endless array of other things as well, it seems to be disrupting several industries including the financial and retail sectors. With its growing popularity, many sectors can truly benefit from the rise in demand for Blockchain technology.
But to build this reputation, PR and communication specialists should publicize the technology to engage and share knowledge. It will also help if businesses embracing this technology share information to promote and help audiences understand their offerings in the backdrop of Blockchain technology.
The steady rise in companies accepting and implementing blockchain in its service offerings has created a whole new service lateral for the PR industry. There’s a whole lot of potential in this new and growing market with a strong need for good representation. PR professionals need to take the time out to thoroughly understand blockchain technology to become specialized service providers to better serve new clients.
Believe it or not, the power of understanding blockchain technology can also be leveraged to benefit existing clients. Since the technology offers strong encryption and verification processes it can at the soonest be optimized to discourage fake news, better protection for copyright, and secure transfer of information. In a highly competitive and data-sensitive industry; it can prove to become a game-changer of sorts.
Will you embrace Blockchain and become the tech-savvy PR partner? Opportunity beckons!