Blockchain marketing news in June 2019
The big story in blockchain marketing this month? You guessed it, Libra coin.
The ‘Facebook cryptocurrency’ has dominated the headlines so it’s worth summing up why we believe it can't be ignored.
Over the last decade or so, marketers have had more day-to-day interest in what the big tech companies are doing than almost any other group. We have come to rely on the advertising machines behind their search, social and e-commerce platforms more than any other channel in order to get our messages out.
For this reason, if any of these firms decided to release a cryptocurrency it was going to be a major story for blockchain marketers. How the story progresses is anyone’s guess frankly. The project is in its early stages and we must all be satisfied with a watching brief, at least for now.
But what does this watching brief involve?
Firstly, we’re looking out for how developers of smart contract-based applications use the Libra coin to build new business models on Facebook, and what we can learn about data sharing from these early examples. Secondly, we’ll watch out for key metrics monitoring the number of new nodes and the volume of transactions, as well as how decentralised the network does or doesn’t become.
Libra dominates our roundup this month but there’s plenty of other things to read, including a review of blockchain marketing in London from us and a brief insight into what ad guru Martin Sorrell thinks of blockchain.
Enjoy and take a moment to reflect how this is the sort of month that reminds us all...we are the pioneers!
Libra in the Spotlight
As mentioned, one of the most interesting aspects of the Libra story for blockchain marketers is how it interacts with and affects Facebook’s existing advertising model. While we think there are fundamental benefits to having a payment system beyond boosting advertising, this article does some useful future gazing.
Still not really sure what’s going on with Libra? You’re not alone, even if everyone around you is claiming otherwise. This long piece from TechCrunch does a pretty good job of taking everything that has been announced in the whitepaper, website and documentation, and boiling it down into the most need-to-know points.
This short opinion piece from Bloomberg looks at the same issue of data for advertising that the Fortune article covers but also introduces some questions about how the Libra network will develop. For all the hype about the announcement this month, the proof really will be in the pudding of whether individuals use it to interact and transact.
Finally, if you’ve got through all that, here’s a look at Libra from one of Bitcoin’s biggest advocates and an important cryptocurrency opinion maker. Jameson Lopp delved into many areas of the whitepaper and technical documentation with this impressively detailed and quick response.
London has become one of the major global hubs for blockchain and cryptocurrencies but it lags behind in terms of the blockchain marketing infrastructure that other cities have. In this article, we look at some of the key areas all blockchain marketers in London should know about, including events, agencies and specialist copywriters.
News and Reports
With all eyes on Libra, there hasn’t been a huge amount of news to report this month. However this story about Kodak’s ongoing pivot into blockchain stood out. Document management systems are often an area that marketers have some say in within enterprises and Kodak’s new offer aims to make them more efficient and secure.
Features and Interviews
It may only be brief and mixed in with comments about other topics but this short video gives us some insight into what the famous ad man thinks about blockchain technology. Do we agree with him? Not really, especially as his argument seems to be ‘“yes to blockchain, no to crypto” but he certainly doesn’t dismiss the technology entirely.
We couldn’t send a newsletter without at least one mention of blockchain’s impact on programmatic advertising and this is this month’s. A promoted article from Fenestra in Campaign, this piece describes the firm’s development and growth, including the work it did with FourComms and Johnson & Johnson to improve data integrity.
Tron’s founder recently paid $4.75 million to have lunch with legendary investor Warren Buffett, a man who has described crypto as “probably rat poison squared”. While many have dismissed the payment as another example of the largesse of the industry, this article argues it is an interesting example of blockchain marketing and promotion.
This episode was actually released in April but it’s getting a mention here as we’ve only just got around to listening to it. If you haven’t listened to ‘What Grinds My Gears’ before, it’s worth a listen for its ability to sort through the hype. This episode is particularly worthwhile for blockchain marketers as it delves into the workings of the crypto press.