The moment you sit down to search ways on the internet for improving brand value and marketing strategy you will come across an avalanche of results each recommending myriad strategies and tactics, some in context and some entirely out of the context. The global supply chains of the international market have been working over the last so many decades in such a way that making changes in them seem to be almost impossible.
However, implementation of the latest technologies such as blockchain can surely contribute to the increase in brand value mostly because this particular technology has the potential to provide every industry a customized option. Experts believe that blockchain technology is the catalyst that can introduce the change however the solution will not be the same for every company. It is because most of the corporations and startups have their own set of requirements and use a software as per their businesses, sizes, and types.
In today’s scenario where companies are struggling in the complex environment to give their brand a distinct identity, blockchain can come across as a breakthrough that can define brand value by providing a blanket of security and trust to the existing technologies.
Blockchain has the potential to meet the demands of everchanging brand strategy. The technology can work in tandem with almost all the existing technologies from machine vision, DNA microtagging to microchip identifier, reported Forbes. Since no two supply chains work similar to each other, blockchain technology is not something you just start using as a product. With each setting, its applications change.
Large companies can benefit by using a combination strategy of blockchain and unique identifiers to track down the problem whereas new startups should include blockchain in their supply chain right from the start. While talking about supply chain and implementation of blockchain technology, DSS Asia President, Mr. Vincent Lum stated, “The supply chain for a single brand can involve up to 20,000 companies, especially with global sourcing of materials and manufactured product. Unfortunately, the dark side is a weakness in supply chain security which exposes intellectual property and creates an opportunity for criminals.”
According to Lum, these weaknesses in marketing, and brand strategy can be easily covered with the help of blockchain technology. He believes that with the help of blockchain companies can form an immutable peer-to-peer ecosystem allowing less expensive yet more efficient interoperability, reported Nasdaq.
The post How Can Blockchain-Enabled Solutions Contribute To Improving Brand Value And Marketing Strategy appeared first on OWLT Market.
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