BLOCKCHAIN: A NON-TECHNICAL PRIMER FOR MARKETING ACADEMICS

Abstract

In the ongoing march of industrial evolution there comes along technologies that have the power to transform businesses as we know it. The Internet revolutionized business/marketing in the nineties and today and bockchain has the potential to do the same for commercial transactions. Blockchain is a peer-to-peer model that can speed up processes resulting in robust tracking and reducing costs of transactions. Given the implications of this far-reaching technology, it is essential for marketing students to understand its significance in the conduct of marketing activities. Consequently, it is imperative that faculty comprehend aspects of the technology and its applications in marketing to integrate them in marketing courses. The purpose of the paper is to enlighten marketing faculty on the concept of blockchain in a non-technical manner along with highlighting its applications in marketing that can be imparted through their courses. To do so, the paper is structured around three research questions relating to (a) understanding the idea of blockchain technology; (b) expounding on the importance of the technology in marketing applications; and (c) illustrating how marketing faculty can integrate the concepts and application in marketing courses.