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Inbound 2017 the blockchain technology revolution coming to marketing (115101 124221 mueller eberstein)

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Introduction to Blockchain technology, cryptocurrency, Smart contracts, ICOs for marketers. "Bold Talk" presentation at the 2017 Inbound conference in Boston, USA. The video of the speech is posted on the Inbound Marketing event page.

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Inbound 2017 the blockchain technology revolution coming to marketing (115101 124221 mueller eberstein)

  1. 1. #INBOUND17#INBOUND17 B L O C K C H A I N T E C H : I T W I L L C H A N G E M A R K E T I N G A N D A D V E R T I S I N G L I K E T H E I N T E R N E T D I D Mark Mueller-Eberstein
  2. 2. #INBOUND17 Blockchain Tech: It will change marketing and advertising like the internet did M A R K M U E L L E R - E B E R S T E I N Slides available for download
  3. 3. #INBOUND17 1992: C AN W E D O M AR K E T I N G O N T H I S “ I N T E R N E T T H I N G ” ? T H E R E A R E O N L Y G E E K S A N D T H E Y W O N ’ T L I K E T H E C O M M E R C E I N T H E I R C O M M U N I T Y
  4. 4. #INBOUND17 Who knows somebody who owns Bitcoin?
  5. 5. #INBOUND17 Bitcoin or Blockchain Technology? Bitcoin is (currently the best know) usage of blockchain technology One of many digital currencies using blockchain technology Many more uses for blockchain technology other than “currency” or “wealth storage”
  6. 6. #INBOUND17 Imagine an international transaction could be done in a few minutes and for less than 10% of current costs Its happening. globally Transaction can take days and cost a lot… …….Really?
  7. 7. #INBOUND17 Right now you need trusted intermediaries like Amazon, Alibaba, Facebook or a bank Not required with blockchain technology
  8. 8. ©Mark Mueller-Eberstein & Adgetec Corporation What does a blockchain do….?
  9. 9. #INBOUND17 Blockchain Technology Solves the problem of transfer of value between internet users without having to rely on a third party.
  10. 10. #INBOUND17 Everybody with a connection to the internet can transact with everybody else. Blockchain (or “B.C”): Social scalability
  11. 11. #INBOUND17 The entire point of Blockchain technology based decentralized transaction platforms like peer-to-peer digital currencies (e.g. Bitcoin) is the elimination of middlemen and the increase of direct trust between all internet users
  12. 12. #INBOUND17 1. Still using exclusively a land line? 2. Still using mostly Fax and postal services? 3. Still doing all your banking with a teller in a branch? 4. Still focusing on one-way TV commercials and print-adds? 1. What happened the last time we connected people directly….?
  13. 13. #INBOUND17 T H I N K H O W A M A Z O N , N E T F L I X , U B E R A N D A I R B N B C R E A T E D N E W B U S I N E S S M O D E L S U N I M A G I N E D I N T H E E A R L Y 1 9 9 0 S . Blockchain technology will be to ​marketing, what “Web” was to Communication
  14. 14. #INBOUND17 Blockchain Technology allows old and new players to offer new services to their customers
  15. 15. #INBOUND17 Do you know that you can pay somebody in bitcoin by simply knowing their Twitter or Facebook accounts?
  16. 16. #INBOUND17 “Customers will chose Blockchain Technology based solutions and business models because they work well for them ”
  17. 17. #INBOUND17 Impact will be felt sooner than later in: • Customer Experience • Branding • Advertising • Commerce & Sales • Loyalty • Data • Management & Leadership The implications and potential of blockchains on marketing are tremendous
  18. 18. #INBOUND17 Which industries will be impacted?
  19. 19. #INBOUND17 Think beyond the banking system… Think any kind of transaction and related services… Mark Mueller-Eberstein & Adgetec Corporation
  20. 20. #INBOUND17 1. Any supply chain 2. Records of estates 3. Records of shares 4. Voting 5. Domain control (DNS) 6. Central Trust (“Escrow”) for any kind of deals 7. Messaging (“signed and unchangeable”) 8. IP management 9. …. Any financial transaction 10. … … for example…. Mark Mueller-Eberstein & Adgetec Corporation
  21. 21. #INBOUND17 Blockchain technology allows “Smart Contracts” Today: Very simple automated transactions. (Think vending machine as “Smart contract example”. User select product, transfers value (aka inserts cash) Smart contracts and Ethereum
  22. 22. #INBOUND17 Creating new coins and tokens…
  23. 23. #INBOUND17 ICOs C R O W D F U N D I N G O N S T E R O I D S
  24. 24. #INBOUND17 1. Like crowdfunding, but raising Millions not Thousands 2. Like an IPO, but for everybody, anywhere (without any regulation or safety net) 3. 200 ICOs in 2016; over 800+ in 2017 (so far) 1. Initial Coin offerings (ICOs)
  25. 25. #INBOUND17 1. Tezos (crypto infrastructure; new blockchain) : raised USD 232 million in Bitcoin-BTC and Ether-ETH 2. FileCoin (Data storage): raised $197.92 million in BTC, ETH, ZEC, USD 3. EOS (Decentralized Applications): raised $150+ million in ETH 4. Bancor (Crypto exchange): raised more than USD 150 million in Ether 5. Other prominent ICO’s include Status ($108 million), Basic Attention Token ($35 million), Mobile Go ($25 million) 1. Largest ICOs till date (14 August, 2017)
  26. 26. #INBOUND17 Who is using the B.C. stuff today?
  27. 27. #INBOUND17#INBOUND17 NEARLY ALL BANKS AND LARGE FINANCIAL INSTITUTIONS ARE HAVING SOME IMPLEMENTATIONS IN PRODUCTION
  28. 28. #INBOUND17 How “real” is blockchain technology?  Goldman-Sachs invest $500+ Million  Nasdaq implements technology in private markets  Microsoft declares “blockchain” as one of the key “must win” workloads for their Azure platform and business  R3 group (banks) use for bond trading (9/2016)  Hottest topic at #FIF2017  15% of top global banks intending to roll out full-scale, commercial blockchain products in 2017 (IBM survey)  Some governments invest into developing their own “local” blockchains Mark Mueller-Eberstein & Adgetec Corporation
  29. 29. ©Mark Mueller-Eberstein & Adgetec Corporation Global organization with lots of different business units, secure IoT and logistics needs
  30. 30. ©Mark Mueller-Eberstein & Adgetec Corporation Even Disney does (their own, open source) Blockchain
  31. 31. #INBOUND17 Marketing with Blockchain tech?
  32. 32. #INBOUND17 1. Half of Advertisement is wasted; but not sure which half 2. Attention is Free 3. Data is plenty, cheap and managed by few central organizations 1. With Blockchain Technology, some Foundational believes are not true anymore:
  33. 33. #INBOUND17 1. Dramatically different experience than the one we have today. 2. New payment and transaction models. 3. Customer has a cryptographic proof to her identity and credentials. • E.g. Customer can prove eligibility to shop on your site as a US citizen without telling you any personal information whatsoever. 4. No tracking imposed on the customer (decentralized apps). Marketing with B.C. Tech tomorrow?
  34. 34. #INBOUND17 1. Advertising: one of the first disciplines to be disrupted by blockchain technology. Customers maintain their own identity and control over their information Marketers will have to pay each individual to get their attention. 1. Good news: much greater trust in knowing that your advertising and outreach efforts are going exactly where you intended them to go. 2. Bad news: “Pay for Attention” required (attention of others will come with a price tag) Marketing
  35. 35. #INBOUND17 Today: Advertisers pay Google or Facebook. Tomorrow: Advertisers pay individual (through large enterprise grade tools) Imagine: • Marketplace where each person will set a price for their guaranteed attention. • Advertisers will choose to pay an individual’s price or not. • If Advertiser pays, they will get a response that is verifiable from that individual. Pay for Attention in a blockchain- world?
  36. 36. #INBOUND17 1. Tracking customer behavior across websites?  will become a greater challenge 2. Move to Blockchain-based social networks that preserve anonymity like Mastodon or Steemit (decentralized versions of Twitter and Reddit)? 3. Disintermediation of Twitter and Facebook (unless they decentralize themselves first) From centralized to de-centralized social media?
  37. 37. #INBOUND17 1. When data moves out of proprietary systems onto open blockchains: • Data itself is no longer a competitive advantage • Interpreting the data becomes the advantage Blockchain and Data
  38. 38. #INBOUND17#INBOUND17 CHAINING CUSTOMER WITH BLOCKCHAIN TECHNOLOGY?
  39. 39. #INBOUND17#INBOUND17 A C R E D I T C A R T R A N S A C T I O N C O S T $ 0 . 5 0 A B L O C K C H A I N T R A N S A C T I O N C O S T N E A R L Y N O T H I N G
  40. 40. #INBOUND17 Micro Transactions for new loyalty and incentive models Anything that has to do with rewards, loyalty programs and Micro payments will likely be touched and influenced by blockchain technology. Incentive models not economically viable today, will likely change these games fundamentally
  41. 41. #INBOUND17 ▪ Problem: Most customers abandon loyalty rewards programs due to frustrations with the time required to obtain meaningful rewards ▪ Solution: Digital token programmability removes friction from the settlement of loyalty points across multiple programs and companies. ▪ Loyalty program interoperability ▪ Loyalty point transferability and management ▪ Ownership of perks can be easily tracked, transferred, and fine-sliced into bits for micro-redemptions; potentially creating new markets for consumers of a brand or lifestyle ▪ Opportunity: New areas for innovation, particularly at the regional and local level. Loyalty Programs
  42. 42. #INBOUND17 1. 1. Marketers/agencies Win: 1. engage users and verify the message reach a (targeted) real human 2. 2. Publishers Win: 1. a fair exchange of value as rapidly as possible 2. Funding to generate more and/or better site content for their user base 3. 3. Users Win: 4. Access to content as inexpensively as possible 5. Without wasting attention on intrusive or irrelevant messaging 6. Without feeling they’re being spied on 1. With Blockchain Tech – All can be Winners
  43. 43. #INBOUND17 Blockchain Tech is here. Today. And growing strongly
  44. 44. #INBOUND17 1. 25 years ago: Experts seriously debated if people can make money on the Internet and if the users will accept marketing on this new medium. 2. New payment models do transform shopping behavior: 1.Credit Cards in the 1980s 2.WeChat pay (used by over 700 million people) over the last 5 years. 3. Marketing and advertisement need to keep up to support and leverage those opportunities. 4. Visionaries and startups: building business models enabled by B.C. Remember:
  45. 45. #INBOUND17 1. Everybody can transact with Everybody and add billions of people to marketplace 2. Transactions: 1. Any size 2. Cheap: fees could become “near zero” 3. Fast: “immutable” within seconds  new business, marketing, advertisement and collaboration models are possible 3. Impacts every “transaction step” from Compliance and Supply Chain Management to Advertisement, Marketing and Sales Impact of blockchain on consumers, business models, marketing and advertising:
  46. 46. #INBOUND17 Rethink Marketing and Advertisement to include deeper customer engagement: Rewards from customers for valuable content Loyalty and award programs Creation of market places
  47. 47. #INBOUND17 Make a Blockchain Tech Plan
  48. 48. #INBOUND17#INBOUND17  M A R K M E @ A D G E T E C . C O M  T W I T T E R : M A R K M E B E R S T E I N  U S + 1 8 5 5 . 4 2 3 . 4 3 8 3 THANK YOU! Mark Mueller-Eberstein CEO of Adgetec Corporation Bestselling Author WeChat: MarkMEberstein Mark Mueller-Eberstein & Adgetec Corporation

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