Procter & Gamble anticipates that blockchain technology – currently best known for supporting cryptocurrencies like Bitcoin – soon could represent a powerful new tool for various modes of consumer engagement.
In the simplest terms, a blockchain system constructs a list of records (or “blocks”) that grows along with each transaction that it was created to monitor – whether that is a purchase, a data exchange, or modifying the tenets of a “smart” contract.
The resultant virtual ledger is stored across a digital network comprised of all relevant users, meaning that changes cannot be made by a single gatekeeper. Instead, updates...