Blockchain and the Future of the Beauty Industry

6.1 Market Trends and Expected Effects

The integration of blockchain in the beauty industry is worthy of analysis in terms of market trends and expected outcomes. An increase in product information transparency and reliability through blockchain is anticipated, boosting consumer trust in brands and enhancing market competitiveness. Furthermore, blockchain is projected to drive innovation in the beauty industry, paving the way for new business models.

6.2 Emergence of New Business Models

With the introduction of blockchain, the beauty industry can anticipate the emergence of new business models. Platforms utilizing blockchain can foster open communication and collaboration, enabling consumers to share product information and experiences. Brands are expected to offer data-driven customized services and create new revenue models.

6.3 Enhanced Security and Privacy Protection

Blockchain will significantly aid in enhancing data security and privacy protection within the beauty industry. By using decentralized storage and encryption technologies, blockchain guarantees data integrity and safety, preventing the leakage and manipulation of personal information. This will provide a secure environment for consumers and increase trust in brands.

6.4 Innovation in Advertising Models Using Blockchain

Current online and mobile web and app-based customized advertising contain significant inefficiencies. Firstly, control over ad exposure lies with the platform operators, exposing all customers to the ads included on the platform. Secondly, there is a problem with the effectiveness of the ads. Most ads are one-dimensional, re-exposing customers to products they have already seen or clicked on other platforms. As a result, customers tend to use ad-blocking apps or paid Ad-free services (like YouTube Red) for convenience, even at a cost.

6.5 Customized Advertising Based on Customer Activity Analysis

The Jongro Boutique platform allows consumers to reject the exposure to potentially annoying ads, providing autonomy over ad viewing. Consent to watch ads comes with rewards, preventing unilateral ad rejection. Additionally, the platform offers customer behavior analysis to use various actions within the platform as inputs for ads, selectively exposing ads that are more likely to lead to clicks and purchases. From a business perspective, this allows the execution of effective ads based on customer activity analysis, with high click-through and conversion rates, and avoids unnecessary ad expenses for customers who have not consented to ad exposure.

6.6 The Role of Collaboration and Partnerships

The adoption of blockchain is set to enhance the role of collaboration and partnerships within the beauty industry. As blockchain ensures data transparency and reliability, it will facilitate smoother cooperation among various entities, including brands, consumers, and manufacturers, creating new value and propelling the industry's growth.

Blockchain and New Content Business Models Through Influencer Partnerships

The Jongro Boutique platform is pursuing a content business through innovative partnerships with influencers, a shift from traditional advertising models. Influencers can create substantial value through interactions with customers on the platform, with blockchain technology serving as a tool to manage this content ecosystem transparently. Content creation and customer interaction data, in association with influencers, are recorded on the blockchain, allowing for ongoing, unaltered tracking and verification.

Transparency in Revenue Sharing

The Jongro Boutique platform emphasizes transparent revenue sharing. By recording all transactions and revenue distribution immutably on the blockchain, it provides transparency and reliability. The revenue generated from the content business with influencers is also accurately recorded on the blockchain and distributed fairly among the parties involved. This strengthens trust between influencers and the platform and helps prevent controversies over revenue distribution.