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  • Marketing of Blockchain Startups: Identifying and Structuring Factors that Affect the Trust in a Blockchain Startup

Marketing of Blockchain Startups: Identifying and Structuring Factors that Affect the Trust in a Blockchain Startup

Student: Torbas Mikhail

Supervisor: Kirill Chmel

Faculty: Faculty of Creative Industries

Educational Programme: Advertising and Public Relations (Bachelor)

Year of Graduation: 2021

Since blockchain technology is quite young, most of the companies that use it for product development are startups. And for a startup to succeed, many factors must come together. For example, a startup should be based on a high-quality idea, a professional and well-organized team, the possibility of technical implementation of the chosen innovative idea, initial funding, a sufficient target market, an understanding of the technology used in the startup by the audience, and the ability to create partnerships that will increase the value of the startup for the end user. However, even having a combination of these factors is not enough for a startup to succeed. No startup can succeed without proper marketing. Blockchain is an innovative technology, and the product that is based on it is fundamentally different from the rest, on the topic of promoting which many scientific articles and studies have been written. The promotion of information products, form-based goods, and services are well-studied areas, but the situation with blockchain startups and the promotion of their products is far from clear. The lack of consensus in the scientific community regarding the marketing theories applied to the promotion of blockchain startups, the innovation of the promoted technology, the rapidly emerging and changing market-these are the factors that made me decide to study the chosen topic. In the following literature review, I will review the state of scientific discourse around the problem of marketing innovative startups, study the state of marketing theory regarding the promotion of blockchain startups and the depth of its study. The issue of promoting innovative startups and blockchain startups in particular, identifying the main factors that determine the trust of the end user and his desire to become part of the project, invest in it and use its services – the main focus of my research.

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