PAST PRESENT and FUTURE of DIGITAL PAYMENTS

PAST, PRESENT, and FUTURE of DIGITAL PAYMENTS

PAST PRESENT FUTURE OF DIGITAL PAYMENTS

The 3 Cs – Contactless, Cashless, Crypto

We have experienced an architectural shift in the way we handle our financial transactions, particularly over the last decade. More recently, since the new safety regulations introduced and enforced due to the pandemic, consumer behaviors have changed to a more contactless and cashless way of buying things in-store with more businesses transitioning online. With this comes the rise in digital payments.

The world-renowned entrepreneur and engineer, Ken Olsen was quoted back in 1977 as saying,  "There is no reason for any individual to have a computer in his home". That was around the same time I was receiving my wage as cash in a little yellow envelope. 

To be fair, that quote was taken out of context and what he was referring to was computers set up to control houses, not your average pc, however, today that’s exactly what’s happened. Many in our society have installed technology with many if not all appliances armed with computers that connect them to the internet of things. 

I’m personally still wary of this and wouldn’t have it in my home, but the smartphone used for digital payments instead of cash, yes, absolutely. A more convenient and secure way to manage finances given the improved security we now have with ongoing advancements to address the arising needs in the future. It’s even eliminating the need for physical credit/debit cards.  

One Hundred Years Ago…

Electronic payments became a thing when the first was the charge card issued by Western Union back in 1921. Not long after department stores, hotels, and service stations also began offering charge cards. Diners Club was introduced in 1950, then came American Express and the BankAmericard founded in 1958 which then became Visa in 1977. 

Since then, we saw the videotex system in the mid-1980s which from all accounts the world wasn’t ready for so it didn’t take off. It’s also worthwhile mentioning that in 1983, David Chaum, an American cryptographer, started work on creating digital cash by inventing “the blinding formula, which is an extension of the RSA algorithm still used in the web’s encryption.” This was the very beginning of cryptocurrencies.

Online banking and bill pay came into play in the mid-1990s along with the first-ever online purchase in 1994. Accounts of who actually was the first vary but this video by Shopify reveals who the credit goes to. 

 

Let’s take a look at the digital payments timeline which began just over 25 years ago and how it’s evolved as a solution for global transactions that reach into the $trillions every year.

Online Digital Payments Timeline

The origins of digital payments began when a 21-year-old entrepreneur Dan Kohn in Nashua, New Hampshire, sold a CD over the internet via credit card payment.

►1994: First online purchase is made
    A CD of Sting’s Ten Summoner’s Tales is sold for $12.48 on NetMarket.

►1995: Amazon.com launched its online shopping site and eBay was also introduced.

►1997: First mobile payments and first contactless payments
    Coca-Cola installs two vending machines in Helsinki that accept payment by text message.

►1999: Paypal launches electronic money transfer service
    Early on, PayPal’s user base grew by nearly 10% daily. Tesla CEO Elon Musk and venture capitalist Peter Thiel were among its co-founders.

►2003: Alibaba launches Alipay in China
   Today, the mobile payment platform has witnessed stunning growth — leveraging digital wallets accepted by merchants in over 50 countries and regions.

►2007: M-PESA creates the first payments system for mobile phones
   Kenya-based M-PESA launched its mobile banking and microfinancing service. Today, it has over 37 million active users on its platform across Africa.

►2009: Bitcoin enables secure, untraceable payments
   Satoshi Nakamoto develops the first decentralized payment network in the world.

►2010: The first Bitcoin purchase took place
   Two pizzas were purchased for 10,000 BTC on May 22, 2010. Given the current price of Bitcoin, that 10,000 BTC is worth around $129 million USD today.
    
►2011: Google Wallet is launched
   In partnership with Citibank, Mastercard, and Sprint. 

►2013: WeChat Pay is rolled into the popular messaging platform
   By 2018, it surpasses 800 million monthly active users.

►2014: Apple Pay launches
   To its iPhone users, Introducing widespread biometric authentication.
   This is followed by Android and Samsung Pay a year later in 2015. 

►2014:Ethereum launched
   Vitalik Buterin launches Ethereum, building decentralized applications such as Smart Contracts which allow for autonomous and more complex payment transactions on the Blockchain.  

 


Image credit: Visual Capitalist

By 2023, over $2 trillion of mobile payment transactions could be authenticated by biometric technology. The use of biometric identification management technology for accurate customer identity verification has proven to deliver efficiency and convenience for organizations and also helps comply with government regulations to prevent identity theft and money laundering. Biometrics use intrinsic data, allowing for immutable identification and verification of people, and is fast and simple. 

As technology continues to transform, advances in digital payment technologies and cryptocurrency are creating a knock-on effect worldwide. 

What Does The Future of Digital Payments Look Like

According to Deutsche Bank Research, the coming decade will see digital payments grow at light speed. That will lead to the death of the plastic card. In emerging markets, the effect could arrive even sooner. Many customers are transitioning directly from cash to mobile payments without ever owning a plastic card.

In a recent survey, most plan to use a smartphone wallet more in the next six months, and most believe that digital wallets will replace traditional wallets within the next five years. 

As more people use and rely on their smartphones for digital transactions as a means to manage their affairs and purchases with post covid guidelines, a number of other technological innovations may well be instrumental in shaping the evolving digital payments industry.

TECHNOLOGICAL INNOVATION FORGING THE FUTURE

♦ Messaging-app payments
   Facebook Messenger, WhatsApp, and WeChat can leverage the reach of billions of users.

♦ Multi-dimensional Digital Wallet 
   Markethive is releasing its wallet to facilitate messaging, P2P, ecommerce, micropayment, and crypto transactions to its users reaching into the millions

♦ Voice-activated commands
   Paying for gas, groceries, or retail via voice could soar.

♦ Biometric payments
   Smartphone biometric security features could spur traction across digital payments.

♦ Blockchain wallet adoption
   Blockchain wallet users are predicted to soar to 200 million by 2030.

♦ Cryptocurrencies
   Daily transactions of leading cryptocurrencies total at approximately 3 million on average. 

♦ Peer-to-peer (P2P) payments
   Financial Institutions along with credit card companies are investing heavily in P2P partnerships, following PayPal’s lead. 

♦ Hardware & in-store interfaces
   Square, Clover, and Stripe are driving new mobile processing integrations.

♦ Facial recognition
   May soon replace QR codes across retail, transit, and airports in China.

Consumers said they chose mobile payments for the convenience, speed, and absence of fees. Retailers are taking note. Many are installing a mobile payment app “to fit customer desire.” The key benefit is reduced effort with mobile payments, there is no need to type in a PIN or handle cash, which removes a psychological barrier. And then of course there is the contactless aspect of it which has become more prevalent today. 


Image credit: Deutsche Bank

Crypto And Blockchain Experience Significant Growth

There has been significant growth in the use of blockchain and cryptocurrency in digital payments. There is a need and enormous opportunity for the online community to take advantage of cryptocurrency micropayments for engaging, facilitating their businesses and to some extent, gamification is becoming more popular and rewarding.   

Markethive, the Blockchain-driven Social Market Network has realized the potential for cryptocurrency micropayments on its global platform which will extend to external coin exchanges and P2P payments via a multidimensional wallet, which is a POS wallet, a Mining Wallet (through the Markethive faucet systems), a private KYC/AML authentication provider, and a secure messaging system.

Blockchain being the technology behind cryptocurrency is foundational for building the next generation of digital transactions. This will establish trust in the trustless applications that provide transparency and immutability with the added benefit of streamlining business procedures, all of which is considered crucial by users as it enhances openness and efficiency of businesses.

Recently, Paxos’ announcement of PayPal now taking on cryptocurrency with its new service allows users to buy, sell, or hold cryptocurrency with their PayPal digital wallet. This is great for the crypto industry as PayPal will help to increase awareness and adoption along with education and utility for cryptocurrencies. 

A Digital Economy On The Rise

The value of digital commerce and mobile POS payments continue to rise on a global scale with yearly transactions valued at $4.8 trillion in 2020. The industry is undergoing a substantial transition given the disruption and global advancements taking place as key technological innovations are integrated. 

As digital wallets become more mainstream, transactional volumes are estimated to reach $9 trillion annually with online purchases and digital commerce driving the growth. As the industry expands its reach globally, users, consumers, investors, and businesses will all benefit from this transformative shift towards a digital economy. 

The real possibilities in a decentralized, blockchain-based payments world cannot be underestimated. There are various types of payments automated with smart contracts and the Blockchain could ultimately be universal in everyday payments at a society level. 

 

ecosystem for entrepreneurs

References:
Visual Capitalist
Deutsche Bank 

 

 

Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals. 

 

 

BLOCKCHAIN – THE QUIET ACHIEVER

BLOCKCHAIN – THE QUIET ACHIEVER 

Markethive Blockchain, the quiet achiever

Time For Trustless Trust 

Blockchain technology is what I consider to be a quiet achiever, and is subtly easing its way into the mainstream in many industry sectors that impact all of us in one way or another. Since my previous articles on Blockchain, we’ve seen an increase in the implementation of blockchain technology as now more than ever it has become a “time for trust”, as quoted by one of the big four auditing monopolies PwC.    

Without a doubt, Blockchain technology will have a beneficial effect on every aspect of business in the future, however, this is a gradual process that requires time and patience. Many traditional businesses are mindful of and watching this evolution, but sitting on the fence waiting for more examples of blockchain technology. Why?

Because traditional businesses will require more transformation when integrating Blockchain and will have to completely reconsider their processes to harvest the maximum benefits of this technology.  Meanwhile, companies with a culture of innovation lead the way into this new era of transparency and immutability. 

Although Blockchain was initially considered only suitable for banking, finance, and cryptocurrency sectors, we are now seeing the benefits in many other industries as well. Currently, we have a lot of solutions that are either in the pilot or beta phase or already being utilized in this enterprising way of not only keeping businesses honest but provides a range of benefits for the public.

 

50 Companies Already Using Blockchain Technology
BLOCKCHAIN 101

101Blockchains.com compiled a list of the top 50 companies across a range of industries as indicated in the infographic above, however, I’m going to add an industry that is at the forefront with a metamorphic influence and used by billions of people. It’s infiltrated our daily lives and increasingly is a way of life for communication, work, and livelihoods.  

Numerous giants in this industry have been in the notorious spotlight for misuse of personal data, political bias, and tampering, questionable algorithms to name a few. If you haven’t already guessed, yes it’s social media, particularly Facebook, and will probably be the last, if at all, to align themselves with a transparent, public blockchain for the benefit of its users on every level. 

Truth About FaceBook’s Libra

Even Facebook’s yet to launch Libra coin that has recently come up against regulatory pressure is a private blockchain (permissioned) that uses an access control layer to govern who has access to the network making it more centralized. In other words, validators are vetted by the network owner, unlike public decentralized blockchain where applications can be added to the network without the approval or trust of others, using the blockchain as a transport layer. 

The Libra blockchain would more likely be for financial transactions only and will not benefit from the network effect.  Nor would the issues of privacy and data harvesting be addressed, in fact, Facebook, which ironically banned ads related to cryptocurrency and initial coin offerings, has not said how it might use blockchain technology, so a public blockchain, by its very nature, could well pose a threat to Facebook.

Blockchain is a distributed ledger with data stored across a network of computers and rules that are enforced by its many participants. It’s the opposite of Facebook, which is a massive centralized organization that controls all the infrastructure underlying the 2.7 billion global users on its proprietary social network.

IMAGINE A BLOCKCHAIN FUTURE

Imagine…

Imagine a vast online network where we all hang out, chat, and buy things, but that’s not owned by Facebook, Google, or Amazon. That’s the vision many more people are seeing in blockchain technology as it becomes more understood. The companies using blockchain technology are actually securing their place in the changing ecosystem.

As 2020 comes to a close, there are now over 3 billion social media users around the globe using some form of social media, many are marketers, either for companies or in business for themselves. 

Blockchain technology as a foundation in social media will be able to solve the problems related to notorious scandals, privacy violations, data control, and content relevance. 

The integration of a decentralized blockchain ensures that all the social media published data remain untraceable and cannot be duplicated, even after its deletion. Furthermore, users will get to store data more securely and maintain their ownership. 

Blockchain also ensures that the power of content relevance lies in the hands of those who created it, instead of the platform owners. This makes the user feel more secure as they can control what they want to see. 

There are many upcoming social media platforms built on the blockchain, primarily used for sharing content through blogging and being rewarded with their native cryptocurrency. In my research, I’ve found some doing well, while others have tried and failed. Below I’ve outlined a few that stand out. They are each compared with a Web 2.0 platform or as close to it. 

SOCIAL MEDIA ON BLOCKCHAIN

Bitchute: is a peer to peer web torrent video sharing platform, predominantly funded by users’ donations and scaling memberships. Monetization including tipping creators’ content is handled by 3rd party processors via Bitbacker, Coinpayments, Paypal et al. The responsibility for payments are passed on to the user, not Bitchute. Primary user interests: politics, activism. Alexa ranking: 2,172. Comparison: Youtube.

Steemit: Steem blockchain-based social media platform. Earn Steem coin and Steem Dollars which is a USD soft-pegged asset to post, comment, and curate. Primary user interests: advice, finance, economics. Alexa ranking: 20,069. Comparison:  Reddit.

PeakD:  Underpinned by the Hive which is a new blockchain that originated as a fork of Steem. In February, TRON acquired Steemit, Inc., which allowed it to gain control over Steem. In response, several Steem nodes and users created Hive, introducing a new governance model that is designed to prevent anyone from gaining control over the blockchain.

Despite those differences, PeakD social media functions are very similar to those of Steemit. Users can post content on the social blogging platform, Peakd. Users receive HIVE crypto tokens for posting content and commenting on that content. Primary user interests: Blogging, miscellaneous communities. Alexa Ranking: 40,004 Comparison: Markethive Social Media Platform

Minds: is an open-source social media platform. You can earn Minds ERC20 tokens for contributions. Minds measure your contributions to the network on a daily basis and you receive a “Contribution Score”. They then calculate how much you have contributed to the network relative to the entire community. That determines the percentage of the Daily Reward Pool that you earn.

Users’ only receive credit for unique interaction, meaning you can only earn credit from another unique user once per metric per day. (eg. If a friend votes on my content 100 times in a day, I will only get credit for 1 vote).
Primary user interests: politics, activism. Alexa ranking: 11,591. Comparison: Facebook.

Narrative: is a user-governed social media platform for bloggers. Earn NRVE tokens to post, comment, curate, moderate, and own niches. Since its inception, some members of the Narrative community have incorporated and are negotiating a new platform with the aim to be reborn with a new platform name along with some improvements integrating to the new Discord server.  Primary user interests: n/a. Alexa ranking: 2,284,842. Comparison: Medium.

Memo: is a BCH blockchain-based social media platform. Earn BCH via posting. Data is stored directly to the blockchain, not the cloud, using OP_RETURN. Using the Memo OP_RETURN Protocol, the message you include with your transaction will show up as a post on the site. You can also use this protocol to like or reply to a previous memo.
Primary user interests: Bitcoin Cash, micro-blogging. Alexa ranking: 214,778. Comparison: Twitter.

However, According to Bitcoin.org the use of OP_RETURN is irresponsible in part because Bitcoin was intended to provide a record for financial transactions, not a record for arbitrary data. Perhaps Memo should build their own blockchain specifically for content and data.

SocialX: is a photo and video sharing blockchain-based platform. Earn SOCX crypto token rewards for contribution and licensing. SocialX is a community-driven social media platform allowing users to publish photos and video content. 

SocialX has created its own blockchain to tackle various challenges associated with blockchain-based projects including the decentralization of photos, video, and other media. 
Primary user interests: Varied content of a social nature. Alexa ranking: 2,223,697. Comparison: Instagram.

Indorse: Ethereum-based coding evaluation and assessment recruiting platform. Earn IND tokens for activity on the network. Primary user interests: coding, recruiting. Alexa ranking: 395,295. Comparison: Linkedin.

Markethive: built on blockchain technology, is a Social Market Network and much more than a social media or blogging platform. It incorporates all inbound marketing tools including SaaS, CRM, AR email systems, eCommerce, along with a digital media broadcasting platform. I am yet to find a blockchain comparison on the internet for Markethive. 

Earn Markethive coin (MHV) for every activity and engagement on the platform as a free member. Be rewarded for your loyalty while building your business online in a collaborative environment. Created for the struggling entrepreneur, delivering a sovereign platform so all have the opportunity to excel and prosper. Primary user interests: business, marketing, blogging, current news, commercial arts, entrepreneurialism. Alexa ranking: 3,152. Comparison: Marketo, Hubspot, LinkedIn.

(Alexa rankings and data retrieved on October 18, 2020)

Blockchain – A Real Differentiator 

Blockchain can be a real differentiator, a new technology with the potential to be a force for good, leaving centralized web 2 platforms behind with their tyrannical protocols.

Blockchain holds different meanings and use cases for different industries, with every industry being able to benefit from blockchain technology, however, by enlarge people still have limited knowledge of how blockchain can be a transformational change to all sectors.

Many cannot see beyond its association with cryptocurrencies and are confused about the differences between blockchain and cryptocurrency. A good way of understanding the relationship between crypto and blockchain is to compare it to an application on your smartphone. (e.g. Menulog or Messenger), and the platform on which that application is running (IOS or Android). Blockchain is the platform and cryptocurrency is an application that runs on the blockchain platform. 

The confusion stems primarily from the fact that the platform (blockchain) and cryptocurrency (Bitcoin) came onto the scene at the same time. The first time blockchain was recognized is when it took the world by storm as the technology behind bitcoin. When in fact, it was first conceptualized back in 1991 using the term “Timestamping”, which was basically an immutable ledger, long before Bitcoin.

More organizations are reassessing their operations as they do battle with the repercussions of the pandemic lockdown of 2020. It has accelerated many disruptive trends that will create entire new markets and displace others in the process. There is a shift towards new ways of working, communicating, and transacting online.

Trust Is Fragile

Trust is faltering, becoming an increasing issue in the digital world and organizations are clearly recognizing the importance of building trust with their people, customers, and business partners. They are paying far greater attention to the risks that undermine trust online such as fraud, data loss, or misuse along with many other forms of cybercrime. 

And in a more traditional sense we have all had to trust the institutions, middlemen, and the powers that be with our finances, documents, data, and the like, for decades, which has historically been the demise of society, even countries, almost becoming 3rd world. This type of trust will become irrelevant in the blockchain-enhanced digital world. 

A decentralized, immutable distributed ledger (blockchain) has been coined as a “trustless” protocol, meaning there’s no need for trust as in the traditional sense. Blockchain technology supersedes the old trust method, transforming into a “trustless trust”. 

 

An Emerging Technology Coming To Light

By integrating blockchain, organizations can build greater trust and transparency in areas such as certification, recruitment, commercial transactions, and the way they secure, share, and use data and content.

An increasing number of organizations are now seeing that blockchain technology provides an opportunity to change for the betterment of all, improving reputation, providing more growth and sustainability, build confidence, and propel any industry forward. 

 

Both Industries And Society Will Reap The Greatest Rewards 

PwC economists expect blockchain technology to bring benefits across a wide range of industry sectors and a lot of the value will be realized behind the scenes. This recent analysis in pdf format estimates blockchain technologies could trigger a $1.7 trillion boost in the global economy by 2030.  

They expect between 10% and 15% of worldwide infrastructure to be using blockchain within a decade with the biggest beneficiaries poised to be the public administration, education, and healthcare sectors. 

Also, wholesalers, retailers, manufacturers, and construction services will benefit from using blockchain to engage consumers and meet the demand for provenance and traceability.

There will be broader benefits for business services, communications, media, marketing, and advertising with the billions of users looking like winners with more of an equal opportunity to earn a living online. For ease, stability, and protection, blockchain technology will play a significant role in the next normal. 

 

ecosystem for entrepreneurs

 

 

Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals. 

 

 

History And Timeline Of Digital Marketing Online

History And Timeline Of Digital Marketing Online

Markethive Header History of Digital Marketing

Where have we been and where are we heading?

Let's travel back in time and check out the history and timeline of digital marketing and how we got to where we are now in 2020, also where we are heading in the future. This year has seen a remarkable change in habits and a tremendous leap in users online. 

Everything from social catch-ups on Zoom, even viewing your favorite sports game from your lounge chair on the Zoom platform as a part of the live audience at the game’s venue. 

Also, corporate working from home, more recently-unemployed looking to work from home to earn a buck, and an ever-increasing number of traditional offline businesses now have a presence on the net adopting digital marketing strategies.

Pretty much everybody has a connection to the internet in some form or another. Grandmas and grandpas are being urged to get online for their banking needs and grocery deliveries. So, of course, every time you go online, you experience digital marketing where someone is trying to sell you something albeit directly or indirectly. 

It’s fair to say businesses just can’t thrive now without online marketing to help generate sales. All businesses, big and small are increasingly moving online with a direct-to-consumer approach that reaches a huge worldwide audience more easily and takes advantage of an unlimited marketplace.

On a global scale, digital advertising spend was projected to hit $336 billion in 2020, pre- COVID, now adjusted to $332.84, but as you can see by the graph, stronger times are just ahead. 

Worldwide digital ad spending will make up 62.6% of the total media spend by 2024.

Digital Ad Spend

 

The Rise In Digital Marketing

Digital Marketing is an umbrella term for promoting and selling services or products using online strategies as outlined in this article which is beneficial for all types of business and allows companies to; 

  • Reach their target audience wherever they are.
  • Use data to observe their online behavior.
  • Use analytics to understand which marketing messages to send them.

These digital marketing elements outlined in the infographic help you reach your customers wherever they are, engage with them, and encourage them to purchase something from you. You create brand awareness, generate leads, convert new buyers, build trust, and increase sales.

digital marketing infographic

Marketing has always been about connecting with your consumers and potential buyers in the right place, at the right time. Currently and into the foreseeable future the best place to meet them is where they are spending time – on the internet. 

Digital marketing is also referred to as 'online marketing', 'internet marketing', or 'web marketing' however, the term digital marketing has grown in popularity over time. 

Digital marketing is constantly evolving, with new technologies making it faster and easier to master especially for small businesses and marketers, but where and when did it all start? 

Let’s go way back and visit the history and timeline of digital marketing with some of the more major milestones in technology.  

 

Digital Marketing Became A Thing 30 Years Ago

The term “digital marketing” was coined back in 1990 and considered integral to technology development and advancement on the whole. 

One of the first key events took place back in 1971, when Raymond Tomlinson, a computer programmer from New York, USA, implemented the first email program on the ARPNET system, even before the internet launched. 

Tomlinson sent his first test email on a system that was able to send mail between users on different machines that previously could only be sent to others using the same computer. 

He was inducted into The Internet Hall of Fame in 2012 which stated "Tomlinson's email program brought about a complete revolution, fundamentally changing the way people communicate".

1990 – Web 1.0 Was Invented

This was a memorable year with the new terminology of digital marketing and that same year, Tim Berners-Lee who invented the World Wide Web in 1989, wrote the first web client and server in 1990. Classed as Web 1.0, it was limited to read-only. Meaning the early web allowed us to search for information and read it but very little user interaction or content generation. 

 

1993 – The First Clickable Banner Ad Was Born

The very first true, linked, clickable, paid advertisement on the WWW was from a website called the Global Network Navigator, (GNN) which in 1993 sold a clickable ad to a Silicon Valley law firm. 

However, the first to do rotating banner ads was pioneered by HotWired in October 1994 and the internet has not been the same since. Despite users’ aversion to online ads, particularly pop-ups, the business models of most websites still revolve around advertising. 

Advertisers will spend $52.1m on banner ads in the U.S. this year, according to Statista, with a projected annual growth rate of 7.9% resulting in a market volume of $71.5m by 2024. 

Those ads may annoy some users, however, they help fund many digital publishers. This is what helps keep platforms predominantly free for users. Banner ads were cutting-edge 26 years ago and gave birth to the internet ad industry.


The first banner. Image credit: Wired Formerly Hotwired

AT&T paid $30,000 to run a dedicated placement for this banner for 3 months in Hotwired. It initially got a 44% click-through rate. The metrics in those days consisted of a person manually counting the clicks and the first Web analytics tool was a highlighter pen. 

1994 – Yahoo Hits The WWW Scene

Yahoo, AKA ‘Jerry’s Guide to the World Wide Web”, named after its founder Jerry Yang, launched and to its success, received nearly a million hits within the first year. The human-edited Yahoo Directory provided for users to surf through the Internet became their first product and the company's original purpose. 

This set the tone for comprehensive changes in the digital marketing world, which led to companies to start optimizing their websites to obtain higher search engine rankings.  

Over the years, Yahoo evolved, then in 2000, they made what they thought was a strategic move in the history of search, when they partnered with Google. They let Google power their organic results, so in every Yahoo search result it displayed “Powered By Google”. 

At the time, Google was not well known, so essentially Yahoo introduced their largest competitor to the world and Google became a household name. 

Also in 1994, the first blog was created by Justin Hall of Swarthmore College. Soon after blogs became an opportunity for brands to connect with consumers. The original term was “weblog”, and shortened to “blog” in 1999.

 

1995 – LookSmart Comes Onboard

LookSmart was founded as Homebase in 1995 in Melbourne, Australia by husband and wife Evan Thornley and Tracy Ellery. The original concept of Homebase was to build a female and family-friendly web portal.  

On 28 October 1996, the company launched its LookSmart search engine. At launch, the search engine listed more than 85,000 sites and had a "Java-enhanced" interface.

These days, LookSmart is a search advertising, content management, online media, and technology company. It provides search, machine learning, and chatbot technologies as well as pay-per-click and contextual advertising services.

 

1996 – Alexa Internet Launches

Alexa Internet was founded in April 1996 by Brewster Kahle and Bruce Gilliat and has an interesting history. Alexa was founded as an independent web analytics company in 1996 and acquired by Amazon in 1999. 

The evolution of Alexa has seen its claim to fame being a key metric known as Alexa Traffic Rank also simply known as Alexa Rank. It is also referred to as Global Rank by Alexa Internet and is designed to be an estimate of a website's popularity.

The Alexa Traffic Rank can be used to monitor the popularity trend of a website and to compare the popularity of different websites.

This was also the year that the phrase, “content marketing” was born at a discussion for journalists and the American Society for Newspaper Editors, and quickly became one of the most pivotal terms in digital marketing.

 

google 1998

1998 – Google Was Incorporated

Starting out as a project in 1996, by Larry Page and Sergy Brin. They theorized about a better system that analyzed the relationships among websites. They called this algorithm PageRank which determined a website's relevance by the number of pages, and the importance of those pages that linked back to the original site. 

Page and Brin originally nicknamed the search engine “Backrub”, because the system checked backlinks to estimate the importance of a site. After much funding, Google was incorporated and launched in 1998, based in a garage.

In the same year, Microsoft launched the MSN search engine, and Yahoo introduced Yahoo web search.

 

Veretekk Automated Marketing 1998

1998 – Veretekk Launches  – Automated Marketing

Marketers needed an edge to reach out to potential customers so a new technology arose as marketing automation. 

Thomas Prendergast built the first automated marketing system in 1994 and was the foundation of Wavefour, which was one of the many firsts. It included a self-replicated website, self-replicated PDF (a formatted receipt to print out sign and fax or mail-in), the first read-write to a server database, the first autoresponder email system, the first remote broadcasting system, and all incorporated into the first Automated Marketing system.
 
Launching in 1998, this system poured new customers and evolved into a service called Veretekk, a standalone Application Service Provider with “Aweber” like email systems, lead capture portals, and Internet Marketing training that ran for nearly 20 years. It was private labeled to hundreds of companies and built a verifiable database that numbered into the hundreds of millions and produced revenues in excess of 5 million.

From 2003 onwards, many automated marketing platforms followed suit such as Eloqua, Salesforce, and later in 2006 came Hubspot and Marketo to name a few. This gave rise to SaaS or Software as a Service. 

The company Veretekk has since been re-built from the ground up to include Blockchain technology and cryptocurrency, combining an inbound marketing platform, social network, and digital media broadcasting platform. Now called Markethive, it’s known as the first next-generation Market Network on Blockchain.

inbound Marketing Comparison

This also saw the birth of the term “Inbound Marketing” derived from automated marketing with a focus on content marketing which is proven to bring credibility and integrity to any organization and be considered a trusted source. 

 

2000 – Google Launches AdWords

Google’s AdWords program is a service that provides advertisers with advertising campaigns managed by Google. For those who want to manage their own campaigns the AdWords self-service portal was introduced soon after. 

Google then launched its AdSense program, originally named content targeting advertising in March 2003. It’s a program through which website publishers of content sites serve text, images, video, or interactive media advertisements that are targeted to the site content and audience. 

These advertisements are administered, sorted, and maintained by Google and generate revenue for the publisher on either a per-click or per-impression basis. Today over 11.1 million websites use AdSense.

 

2002 – Linked Is Launched

Reid Hoffman founded LinkedIn in December 2002 – making it the first-ever business-oriented social networking platform. It’s primarily used for professional networking, job posting by company, and by job seekers.

As of 2015, most of the company's revenue came from selling access to information about its members to recruiters and sales professionals. Since December 2016 it has been a wholly-owned subsidiary of Microsoft. 

 

2003 – Myspace Launches

Myspace, an American social networking service was the largest social networking site in the world from 2005 to 2009, reaching more than 100 million users per month. In June 2006 Myspace surpassed Yahoo and Google to become the most visited website in the United States

Myspace has had a significant influence on technology, pop culture, and music. It was the first social network to reach a global audience and it played a critical role in the early growth of companies like YouTube. However, in April of 2008, Myspace was overtaken by Facebook in terms of the number of unique visitors. 

 

2003 – The Genesis Of WordPress

b2/cafelog, more commonly known as b2 or cafelog, was the precursor to WordPress with an estimated 2,000 blogs installed as of May 2003. WordPress then became its name and is a joint effort between Matt Mullenweg and Mike Little. 

WordPress was originally created as a blog-publishing system but has evolved to support other types of web content and plugins assisting publishers to increase their reach across the internet. 

By October 2009, WordPress was enjoying the greatest brand strength of any open-source content management system. As of June 2019, WordPress is used by more than 60 million websites which include 33.6% of the top 10 million websites. 

WordPress is one of the most popular content management system solutions in use.

Wordpress Markethive plugin

 

2004 – Web 2.0 Is Introduced, Then Came Facebook

The terminology, Web 2.0 was initially invented in 1999 by Author and web designer, Darcy DiNucci, who also predicted the influence it would have on public relations. However, it was in 2004 that it became popularized when introduced by Tim O’Reilly and Dale Dogherty at the O’Reilly Media Web Conference. Web 2.0 was the start of a participatory or social web. 

The same year “TheFacebook” founded by Mark Zuckerberg, became a thing, initially for the students at Harvard which later that year expanded to many other colleges across the USA. But it was in 2005 the name changed to just Facebook and started to take hold globally in 2006 when it opened to the public. 

Google also released Gmail on April 1, 2004. It started as a beta release and didn’t end its testing phase until July 7, 2009. 

 

2005 – YouTube Hits The Scene

YouTube was the brainchild and founded by Steve Chen, Chad Hurley, and Jawed Karim, all were early employees of Paypal. Karim said the inspiration for YouTube first came from Janet Jackson's embarrassing wardrobe malfunction in 2004 at the Super Bowl

The very first video of “Me at the zoo” with founder Jawed Karim, was uploaded on April 23, 2005. Then YouTube offered the public a beta test of the site in May 2005. At the time of the official launch on Dec. 15, 2005, YouTube didn’t have much recognition as Vimeo was already operational as it launched in 2004. 

However, as history denotes YouTube is a hit and in 2006 Google acquired the video-sharing platform for $1.65 billion in Google stock. Today, YouTube accounts for 2 billion users worldwide.

2006 – Growth In Search Engine Traffic 

By 2006 there were considerable advancements in the digital marketing space. Search engine traffic grew to approximately 6.4 billion in the month of March alone.

Microsoft also introduced Live Search to compete with Yahoo and Google.

Twitter also launched in 2006 and created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams. Dorsey explains,

“…we came across the word 'twitter', and it was just perfect. The definition was 'a short burst of inconsequential information,' and 'chirps from birds'. And that's exactly what the product was.”

So although classed as a social media, Twitter is more of a microblogging platform and information network. Furthermore, statistics demonstrate that Twitter users spend 26% more time with ads than users of other social media platforms.

Twitter Jack Dorsey Founder

 

2007 – Automation Marketing Became More Widespread. 

As the pace of the World Wide Web increased, so did the marketing climate and more companies and marketers came onboard utilizing marketing automated software that replaced conventional marketing processes. 

These tools automated the tasks of lead segmentation, marketing campaigns, and the ability to provide customers with personalized information. Its development during the 1990s and 2000s, changed the way brands and businesses use technology for marketing as digital platforms became increasingly incorporated into marketing plans and everyday life. 

 

2010 – Instagram Launches

The photo and video sharing platform was created by Kevin Systrom and Mike Krieger, in 2010  After its launch, Instagram rapidly gained popularity, and was acquired by Facebook in 2012. Instagram users are spending an average of 28 minutes per day on the platform in 2020.

A large portion of those users (around 200 million) visit at least one business profile a day, indicating that Instagram has become a focal point in the digital marketing arena. 

Although praised for its influence, Instagram has been the subject of criticism, most notably for policy and interface changes, allegations of censorship, and illegal or improper content uploaded by users.

Also noteworthy, the digital marketing industry saw a substantial rise in 2010, with the digital media growth of an estimated 4.5 trillion online ads served annually, and digital marketing expenditure experienced a 48% growth.

 

2011 – Google’s Panda Algorithm launches.

First released in February 2011, Google Panda brought a major change in Google’s search engine ranking algorithm. The name "Panda" comes from Google engineer Navneet Panda, who developed the technology that made it possible for Google to create and implement the algorithm.

It aimed to lower the ranking of “low-quality sites” and rank “higher-quality sites” near the top of the search results. Google Panda affected the ranking of an entire site or a specific section rather than just the individual pages on a site.

Panda’s updates were rolled out once a month in the first 2 years, and consequently influenced the ranking and traffic which negatively impacted some sites that upset a few people, to say the least. In some cases, it forced companies to change names, business models, fire employees, and even go out of business altogether. 

Google stated in 2013 that future updates would be integrated into the algorithm which would make it less noticeable and continuous.

 

2012 – Saw The Launch Of Zoom 

Zoom is a video-telephony software program that launched a beta version on September 10, 2012, that could host conferences with up to 15 video participants at the time. In January 2013, version 1.0 of the program was released with an increase in the number of participants per conference to 25. 

By the end of its first month, Zoom had 400,000 users, which rose to 1 million by May 2013. Due to the COVID-19 pandemic Zoom experienced an exponential gain in users of 2.22 million in 2020.

On one day in March 2020, the Zoom app was downloaded 2.13 million times. In April 2020, Zoom had more than 300 million daily meeting participants. On August 24, 2020, Zoom experienced widespread outages for several hours before service was restored.

However, this year, Zoom has been at the center of some controversy with its attendee tracking feature, sharing personal data, shady techniques, and lack of transparency. It is recommended you “Zoom” at your own risk. 

 

2014 Long Form Content more prominent

 

2014 – Upsurge In The Amount Of Smartphone Users

Reportedly, 2014 saw a rise in the number of mobile users, to 4.55B which is 70% of the global population, with smartphone users reaching 1.75B. 

2014 also saw the launch of the Facebook messenger app and not long after came the Apple Watch. 

 

2015 – Markethive, The Genesis of The Next Generation Market Network  

Markethive, (previously Veretekk), was trademarked and incorporated in mid-2015 and opened the doors to a private Beta phase for Veretekk founders and users. The company then went into full public Beta launch in January 2016. 

Over the next couple of years, while operating as an inbound marketing platform and social network, Markethive methodically worked on creating its primary vision of being a decentralized Blockchain driven Social Market Network integrating cryptocurrency forming an entire ecosystem for aspiring entrepreneurs, marketers, companies, small business, and commercial artists. 

January of 2019 saw the launch of the Markethive Coin (MHV) within the Markethive ecosystem. Now it is possible to earn coins on every task and activity performed, whether it be facilitating your business with the inbound marketing tools or engaging on the social media platform.

Markethive is a sovereign entity offering transparency and self-sovereignty on all levels including autonomy, privacy, and security to its users as well as financial well-being. A community-focused culture of collaboration is the fabric of Markethive and proving to be a much-needed resource in the online world today. 

Markethive Wallet App

By years end of 2020 will be the launch of the Markethive wallet app and exchange which will open the floodgates bringing in the millions who are looking for a genuine way to earn and conduct their business in the online space that in many ways has become a jungle and cesspool of fraud, scams, data harvesting, political bias, and dystopia. 

This is all part of the Web 3.0 or 3rd generation internet which has started to emerge as a movement away from the centralization of services.  Markethive was built for the little guy and gal in mind, at little to no cost to join, utilize all the facets of an inbound marketing platform and social network, build their business relationships, and get paid for doing so, all while enjoying free speech, privacy, and autonomy in a collaborative environment. 

Sound like utopia? Pretty much is! 

Markethive Infographic

 

Staying At The Forefront Of Technology

So there you have it… Technology has come a long way over the past three decades with no signs of it slowing down any time soon. The successful company for the long term will need to have an innovative culture and be tuned in to the fast-paced, ever-changing technology and behaviors in this revolutionary world.    

One thing is for certain, content marketing, along with email marketing integral to inbound marketing which is a prescribed marketing strategy under the digital marketing umbrella is crucial to the success of any organization, large and small. 

Statistics show that:

  • Content marketing costs 62% less than outbound marketing and generates 3x as many leads
  • Content marketing has lower up-front costs and deeper long-term benefits than paid search.
  • Small businesses with blogs generate 126% more leads than those without blogs.
  • Content marketing rakes in conversion rates 6x higher than other methods.
  • 87% of B2B marketers say email is one of their top free organic distribution channels.
  • 80% of B2C businesses believe email marketing increases customer retention. 

We have evolved into a more human approach towards marketing and advertising. Even  Google’s search engine is adopting that approach with their latest algorithm in 2019, BERT, that helps better understand the context of words in searches and language a bit more like humans do. 

At the height of the automated, inbound marketing boom in the mid-2000s, not only was it expensive but overwhelmingly complicated for many businesses to integrate. Larger companies would have it done for them, but what about the little guy and gal? 

Enter Markethive, the complete Market Network. 

 

ecosystem for entrepreneurs

 

 

Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals.