Change is nothing new to the FinTech industry – a seemingly endless list of technologies have come into the picture over the last decade alone. Like clockwork, the industry is being transformed by yet another new innovation: Bitcoin.
Created in 2009, Bitcoin has since made headlines due in large part to its dramatic volatility. Growth of more than 300 percent in 2017 alone has piqued interest among potential investors and financial services companies
Still though, there’s no telling what the future holds for the much-debated cryptocurrency. While some expect Bitcoin to become the sixth-largest reserve currency by 2030, others aren’t as optimistic.
Even if Bitcoin never meets sky-high expectations, the idea of decentralized cryptocurrency is sure to leave a lasting impact on a number of different industries – including digital marketing. This is why marketers should familiarize themselves with Bitcoin and all of the change it stands to bring.
Here’s a look at two ways marketers can make sure their companies benefit from learning and talking about Bitcoin.
Want your company to be remain on top of all the latest trends in FinTech? Bitcoin is a good place to start. Getting the conversation going about cryptocurrencies such as Bitcoin can help demonstrate that your organization is in the loop when it comes to industry innovation. While your thought leaders may not be Bitcoin experts just yet, sharing their insights on how Bitcoin is impacting the space can prove to be valuable.
To help draw attention toward your brand and raise awareness among a new audience, try speaking openly about new developments or trends related to Bitcoin, including:
- Bitcoin Cash
- Initial Coin Offerings (ICOs)
- Cryptocurrency exchanges
- Digital currency security
Keeping security top of mind
One of Bitcoin’s most compelling features is the technology behind it all. Commonly referred to as the blockchain, this technology consists of a distributed ledger that stores a record of any and all transactions within the Bitcoin network. But since the data is anonymized, consumers don’t have to worry about sensitive information falling into the wrong hands.
Highly-publicized data breaches have tarnished brand reputations while also inflicting severe financial damage. Companies can avoid such such fallout and gain a leg up on the competition by positioning themselves as a knowledgeable source on secure innovations in FinTech, including blockchain. Even if your brand isn’t leveraging Bitcoin now, simply discussing its impact on financial security can show your organization’s commitment toward exploring and understanding new security measures.
Here are some interesting talking points when it comes to blockchain and its impact on financial security:
- A blockchain-based security model may help decrease the risk of cyberattacks and data hacks
- Switzerland and Japan accept Bitcoin as a legal method of payment
- Blockchain is being taken more seriously by financial institutions due to its independence, security and transparency
- Much has been made about Bitcoin in recent years. From aiding billions of unbanked adults around the world to shoring up data security, Bitcoin promises to fundamentally transform the FinTech industry. Therefore, marketers have plenty to gain from discussing its potential impact in blog posts, white papers and other thought leadership pieces.
Ready to Talk Bitcoin?
If you’re interested in learning more, but aren’t sure where to start, check out a few Bitcoin resources we’ve pulled together. From a six-part series on Bitcoin and the blockchain to an in-depth look at how the blockchain could change finance as we know it, these resources can help put you well on your way toward developing a better understanding of Bitcoin and the blockchain.
Stay tuned for additional blog posts and analysis as a part of our three-part series.
- The Balance: The Growth of Bitcoin Exchanges
- Institute for the Future: Understand the Blockchain in Two Minutes
- Marketing Week: Why Marketers Need to Get to Grips with Blockchain