Jenny Stanley
Jenny Stanley 3 October 2023

Revolutionising Customer Experience with Blockchain Technology

Blockchain technology, often associated with cryptocurrencies like Bitcoin, is evolving far beyond its financial origins. Businesses across multiple sectors are waking up to the transformative potential of blockchain, particularly in the realm of customer experience (CX). This article delves into how blockchain is revolutionising CX, underpinned by solid statistics and compelling numbers.

Transparency and Trustworthiness

One of the foremost strengths of blockchain is its transparency. Blockchain records are immutable; once data is added, it can't be altered without the consensus of all participants. 

- Statistic: According to a 2020 survey by PwC, 82% of business executives believe that blockchain improves transparency in business operations.

Reducing Fraud and Ensuring Authenticity

Blockchain's decentralised nature helps counteract fraudulent activities, ensuring products are genuine and not counterfeits.

- Number Highlight: The World Trademark Review estimates that by 2022, the global economic value of counterfeiting could reach $2.8 trillion. Implementing blockchain can drastically reduce this number.

Enhanced Security and Data Privacy

The encrypted nature of blockchain transactions provides an unprecedented level of security, ensuring customer data remains private and secure.

- Statistic: A study by Juniper Research found that the adoption of blockchain could save businesses up to $20 billion annually by 2024 in data breach-related costs.

Connected Packaging: A Game Changer

Blockchain and Connected Packaging are a match made in heaven. Connected Packaging refers to the integration of technology into packaging to communicate information, authenticate products, or engage customers.

When blockchain is integrated, consumers can scan a product to view its entire journey – from sourcing of materials to the final product in their hands. This not only guarantees product authenticity but also engages customers at a deeper level. In a world where 75% of consumers want to know more about product origin, this is a groundbreaking innovation.


Streamlining Supply Chain Management

Blockchain offers real-time tracking of products in the supply chain, ensuring faster delivery and minimising errors.

- Stat: Deloitte reported that companies implementing blockchain in their supply chains witnessed a 50% reduction in transaction costs.

In Conclusion

Blockchain is more than just a financial tool. It's a transformative technology poised to redefine the landscape of customer experience, creating transparency, trust, and enhanced engagement.

As businesses adapt, the winners will be those who leverage blockchain's capabilities to serve their customers better.

Visit Appetite Creative’s Blog for more of such content!

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 3 April 2024
Read more
How to Review a Website — A Guide for Beginners

How to Review a Website — A Guide for Beginners

A company website is crucial for any business's digital marketing strategy. To keep up with the changing trends and customer buying behaviors, it's important to review and make necessary changes regularly...

Digital Doughnut Contributor
Digital Doughnut Contributor 25 March 2024
Read more
7 Reasons Why Social Media Marketing is Important For Your Business

7 Reasons Why Social Media Marketing is Important For Your Business

In the past two decades social media has become a crucial tool for marketers, enabling businesses to connect with potential customers. If your business has yet to embrace social media and you want to know why it is...

Sharron Nelson
Sharron Nelson 29 February 2024
Read more
10 Factors that Influence Customer Buying Behaviour Online

10 Factors that Influence Customer Buying Behaviour Online

Now is an era where customers take the center stags influencing business strategies across industries. No business can afford to overlook factors that could either break the customer experience or even pose a risk of...

Edward Roesch
Edward Roesch 4 June 2018
Read more
Top 10 B2B Channels to Help Your Business Grow Worldwide

Top 10 B2B Channels to Help Your Business Grow Worldwide

Explore the essential B2B channels for enhancing global business expansion, focusing on lead generation, effective branding strategies and fostering connections to unlock new market opportunities​.

Salman Sharif
Salman Sharif 21 March 2024
Read more