Before you cringe internally at yet another blog post jumping on the blockchain bandwagon, it’s important to keep in mind that it is still an important conversation. And yes, we are filled with self-loathing. But as experts in producing practitioner-written content, we have seen some interesting trends in the enterprise blockchain conversation in May that should be of interest if you need to speak to those developers in that conversation.
Something our customers have come to depend on as part of our practitioner content delivery service is the help we give them developing topics for their blogs and longer-form content marketing assets. We certainly encourage you to develop your own topic strategy. However, part of our partnership with our customers involves helping them generate a topic for each piece of practitioner-written content we deliver.
We write the “Topic Facets” series to help our customers and marketing managers look under the hood to discover how we develop topics using SoV and SoC as metrics. We always begin with SoV calculations for specific conversations, and then use that data to inform our topic selection.
Today, we take a look at which tech companies are moving the needle in enterprise blockchain. Enterprise blockchain is an interesting twist on public blockchain. One of the attractions of public blockchains like Bitcoin or Ethereum is their transparency. They store data that is easily accessible to anyone. For example, within a Bitcoin blockchain, it is possible to see who sent Bitcoin to whom with just a transaction ID. And someone running a node can observe and use the business logic that runs consensus and transactions within the Bitcoin network.
Enterprises use Blockchain primarily because of its auditability, security, and decentralization. This can streamline some processes within an organization without compromising the need for security and an internal, unalterable “chain of custody” of information, approvals, and other actions taken. However, what it can’t be is public.
Therefore, enterprise blockchains use permissioning and private transactions that are usually not used or needed in public blockchains. Permissioned blockchains are those where the nodes are only run by trusted participants, and only authorized users can participate in transactions. Tools and strategies are employed so private transactions can only be visible to authorized parties.
May 2018 Enterprise Blockchain — Conversation Topic Interest Over Time by Google Trends
A Metrics-First Approach
Our approach to determining topics within this conversation begins and ends with a share of voice (SoV) calculation, which ultimately gives us an idea of a vendor’s share of this conversation (SoC). Our share of voice methodology is described in some detail in a variety of places, but here is a quick summary:
Share of conversation is the percentage of any specific conversation you own. SoC is more precise because it looks at specific conversations within a market versus focusing only on global SoV compared to competitors. While it’s interesting to know how your brand or product is doing in the world of all products, you can make the greatest impact by going local with specific conversations.
Re:each Conversation SoV Results from May 2018 for Enterprise Blockchain
Below, we will dig deeper into why the results were the way they were.
Fixate’s Re:each platform has algorithms which derive conversation share of voice across traditional and social media. The phases of calculation are data collection, normalization, and interpretation. We can’t give you the secret sauce, but we can give you an idea of how we do it.
- Identify your place: Identify specific keywords and concepts associated with your brand and product based on those concepts that appear the most in all conversations you participate in.
- Determine your conversations: From there, the concepts are applied across a body of sources in order to identify the three conversations which are most relevant to you. For each vendor, there are three types of conversations identified:
- Demand Gen
- Mindshare/Thought Leadership
- Find your competition: Competition is derived by identifying the top 4-9 vendors in each conversation based on their SoV in those conversations.
- Determining relevant topics: Topic suggestions are derived from entity/concept extraction of content that was most prevalent in each conversation selected over the set period of time. Those concepts that had the greatest reach in that conversation are weighted and end up as the core elements of a suggestion.
Data is collected from traditional social media sources as well as trusted media sources for each broad market. Weight is put on content based on the source it came from using a proprietary algorithm. Currently, calculations are done at the end of each month for the entire month’s worth of data.
The machine learning used in SoV is human-supervised (Human-in-the-Loop). SoV calculations can be fully automated; however, topic suggestions are subject to language challenges, and domain expertise based on raw data collection. Domain experts validate SoV calculations, and reformulate raw entity extraction on top-performing content in each conversation to build coherent topic suggestions.
May 2018 Sources that Influenced Topic Selection and SoC for Enterprise Blockchain
High-Impact Industry News
- Verdium.io to Use IBM Blockchain Technology to Create Social and Environmental Impact Tokens
- Cryptocurrency “mining” has been a hot topic lately due to the tremendous amount of energy it consumes. One source suggests that Bitcoin alone uses more than 30 terawatt hours of electricity annually, which would be equivalent to the annual usage of the country of Ireland.
- The Consensus conference was held in New York City from May 11th to the 17th. #blockchainweeknyc went viral on social media as the conference highlighted just how massively Enterprise Blockchain industry is growing.
- “MLG Blockchain and WhatMatrix to release ‘Blockchain for Business’”
- “12 Top Crypto Influencers Share Thoughts on the Future”
Industry Blogs to Follow
Apart from industry media, these blogs are a must-read for up-to-date industry practices, and they come from a specialized perspective.
- Reddit Blockchain page
- 40k active users
- Hundreds of posts per week around industry news and happenings. This subreddit also contains tutorials to get those with no knowledge into the cryptocurrency world.
- Blockchain news at the-blockchain.com
Top Social Media Influencers to Follow
- Richard Krawczyk Twitter
- Speaker and strategist on all things blockchain and crypto with nearly 500k followers.
- Jeff Keni Pulver Twitter
- The vice chairman of the Alchemist Group (and futurist) discusses all things current with Blockchain.
- CoinDesk Twitter account
- Latest news, prices, and analysis on all things crypto. CoinDesk hosted the Consensus Conference in NYC.
- NC2 Twitter account
- Just like the account description states, you’ll find all things related to ICOs through this account.
Right now the best practitioners in the blockchain world are unicorns. It is so new that few people have implemented Blockchain, much less outside cryptocurrencies and business applications. There really is only one pool of practitioners—those who are involved in consulting on using Blockchain, and founders of Blockchain startups. Fortunately, both are hungry to demonstrate that they know what they know—Thus, it’s not too hard to convince the right people to produce content as long as the exposure is positive and far-reaching.