Blockchain will change your marketing strategy. Here's how.

The opinions expressed by entrepreneurs contributors are their own.

Blockchain and have become buzzwords far beyond the worlds of and . Experts predict that the blockchain market will reach nearly $40 million by 2025. But as crypto-related buzzwords have become impossible to avoid on a daily basis, not everyone is fully aware of what the shift to will mean for , consumers and digital .

Related: 4 Ways Your Small Business Can Benefit From Blockchain

What is blockchain and how does it work?

Blockchains are electronic ledgers or databases. They are shared between different connections in computer networks and store information in a digital format. Blockchains differ from other databases because the technology behind them ensures that records are kept securely.

Another difference between a blockchain and other databases is how the data is structured in the ledger. As the name suggests, blockchains group data into blocks. Think of them as the individual rooms or compartments of a storage facility. Once a block reaches its capacity, it is closed and linked to the previous block.

This is how a blockchain is created. Any information added after a block is closed must be stored in a new block. Once this new block is completed, it is added to the existing chain, and so on. In addition to creating a chain, blockchain storage also creates a timeline of when data was added.

A few years ago, blockchains were far from a household name. This changed with the advent of cryptocurrencies. Since bitcoin has grown in popularity, the use of blockchain as a ledger for transactions has also increased. One of the biggest differences from other databases is that blockchain-based data is held by all users collectively rather than in a centralized organization.

What does blockchain mean for marketing?

The financial industry was an early adopter and investor in blockchain development. As a result, this industry continues to hold most of the market.

Digital marketing as an industry is only beginning to harness the potential of this technology and create use cases. But while marketers may lag their financial colleagues in adopting blockchain technology, marketing certainly stands to gain from blockchain applications.

Technology continues to develop at this stage, and new use cases, including several for digital marketing, are being discovered almost daily. Undoubtedly, blockchain technology and Web 3.0 applications will improve the way digital marketers manage data.

Blockchain will allow digital marketers to:

Increase transparency for advertisers and marketers Quantify the results of marketing campaigns Prevent Fraud

Increased transparency for brands and consumers

Consumers have long demanded greater transparency from their favorite brands. At the same time, they protested attempts at greenwashing and other tactics that could curry favor with consumers.

Blockchain technology can put an end to issues such as greenwashing, as the ledger documents an individual's inheritance irrevocably. Consumers can view much more detailed information about a given product than they currently can. Brands benefit from the ability to build consumer trust. For example, organic or carbon neutral product claims can be quickly confirmed with this technology.

Marketers looking to place ads also benefit. Increased transparency makes it easier for them to select the right advertiser for a brand, as they can verify audience requests more quickly.

Related: 5 Examples of Businesses That Succeed Through Transparency

Quantify the results of marketing campaigns

For years, marketers have...