Blockchain is the technology that enables Bitcoin and other cryptocurrencies function. With a growing list of records, called blocks, it can potentially impact many industries, including the web itself.
As a digital ledger of economic Transactions, blockchains can be programmed to record not just financial transactions but virtually everything of value.
Blockchains are incorruptible because they are decentralized and have distributed digital ledger that are used to record transactions across many computers. So once data has been recorded and secured using cryptography, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks.
Furthermore, the technology allows all the parties involved to verify and audit transactions inexpensively. They are authenticated by mass collaboration powered by collective self-interests.
This robust workflow makes blockchain technology safe for transaction.
And what makes it able to disrupt other industries, including the web, is because it allows users to conduct transactions without a middleman in a secure and transparent format.
In the marketing world, the online advertising industry is mostly occupied by Google and Facebook. Google for example, connects advertisers with website owners.
Google acts a central authority in programmatic ads, where it helps advertisers run ads on websites with Google Display Network. So here Google is essentially the middleman that helps advertisers and website owners trust each other.
Blockchain plays the role of a unhackable distributed ledger.
With transparency for every persons involved in a transaction without giving away their personal details, essentially proving they are a real person.
This way, both parties can trust each other without even knowing who they are dealing with. With the two parties trusting each other, they wouldn't need Google at all. Google acting as the middleman, cuts web owners' profit for revenue.
If blockchain is able to verify that every user is genuine with a 100 percent accuracy, Google's role to arbitrate their agreement is no longer needed.
What's more, blockchain is decentralized by storing data across their networks. This eliminates the risks that come with data being held by en entity (centralized).
With blockchain, advertisers can save a lot of money. This is the reason why blockchain is a huge threat for Google and others.
Altering The Method Of Transaction
In the online world, blockchains can disrupt online sales, voting, ridesharing, real estate, insurance, loyalty cards and many more.
As companies start to adopt blockchain, they need to integrate it within their websites. This involves web developers as well as SEO specialists so the website can benefit from organic search as well as display the information from the blockchain transactions.
The main technical issue is that developers need to work with others in the field to resolve compatibility issues regarding different content management systems (CMS) and website platforms.
As new blockchains are developed and more widely adopted, they will certainly disrupt modern businesses and search marketing industry in many ways.
For that reason, many are considering blockchain to have a huge impact as the internet was in the 1990s.