Bitcoin, Blockchain & PR: Die Kunst Der Verständlichen Kommunikation

The financial sector has been an integral part of our work at YIELD since day one, as our roots lie in PR consulting for financial and investment companies. Even though our portfolio is now much more diverse, working in this industry remains a matter close to our hearts. We find the constant evolution of the financial industry particularly exciting: today, in addition to traditional market participants such as banks and asset managers, we also support innovative companies dedicated to cryptocurrencies and blockchain technology – modern offshoots of an ever-changing financial world.

Flo, how did you get started in crypto communications?

At the beginning of my career, I admit I was somewhat skeptical about the topic. It seemed very abstract to me. However, since it is my job as a PR consultant to provide my clients with the best possible support, I familiarized myself with the topic, looked behind the facade of quick money, and realized that crypto is a real, dynamic industry with enormous potential. Having had these “aha moments” myself, I am motivated to enable others to have them too and to communicate in a targeted and authentic way. I know what it's like to hear terms for the first time and not be able to imagine what they mean. But financial education is important for everyone—and crypto is a rapidly growing and complex part of the financial landscape. That's why it's our job to make the “new” financial world understandable for everyone.

What role does PR play in all this?

PR plays a special role in this: educating. However, the focus is not only on the interests of the companies we represent, but also on those of the general public. We combine the needs of both groups with the aim of imparting knowledge: crypto and its role in the economy and society should be understood, as should the advantages it can offer investors.

You talk about enlightenment. What do you mean by that?

For this knowledge transfer to be successful, it is important to engage the public and start with the basics. After all, the aim is to effectively communicate what is actually a highly complex issue. This usually requires a certain degree of simplification and abstraction – nevertheless, it is crucial that these are used carefully and purposefully. The aim of PR communication is to summarize the information relevant to the target audience (e.g., financial journalists or private investors) in a coherent and, in essence, complete manner. As a rule, this involves answering the question of what is really new, unique, and beneficial about a particular offering.

Can you explain how you approach something like that with an example?

Gladly! I'll use the cryptocurrency Bitcoin as an example. It is often referred to as “digital gold,” and at the same time, the technology behind the Bitcoin blockchain is often the focus of attention. In order to provide more clarity here, I believe two things are particularly important: First, the technology must be made understandable, which is best achieved by emphasizing its intended purpose and benefits to the general public. In the case of blockchain, for example, this includes the general traceability of each individual transaction, independence from central actors such as banks or authorities, and resistance to manipulation.

Secondly, however, positive attributions must also be reconciled with reality, because in PR, one is committed to truthful communication. Let's take Bitcoin's often-used synonym, “digital gold,” as an example: Bitcoin's actual price performance during different economic cycles proves that Bitcoin actually performs differently than real gold, which typically performs weaker during a general economic upturn and is in high demand during an economic crisis. Bitcoin, on the other hand, behaves more like tech stocks – i.e., shares in large technology companies that increase in value during an economic upturn and are less in demand during a crisis. Nevertheless, Bitcoin can still be understood as “digital gold” because it has experienced steady growth in value over the long term – that is, since its creation in 2009. And this is despite many ups and downs and across many geopolitical and economic crises.

Which communication channels do you choose when you want to communicate crypto topics?

In general, the crypto community consists largely of internet users and digital natives. This makes new online channels—in addition to social media and relevant platforms, these also include the online editions of daily newspapers—the most important places to reach the target group. In German-speaking countries, “relevant platforms” include news sites such as BTC-Echo (Germany) and Trending Topics (Austria). However, the broad field of German-language podcasts, especially in the area of finance, is also an important communication channel for crypto projects. Finally, traditional media read by private and institutional investors are also important, especially as crypto is becoming increasingly accepted and in demand among this target group. Examples include daily newspapers such as FAZ or Die Welt (Germany), Die Presse and Der Standard (Austria), as well as magazines such as Forbes (Germany/Austria).

Thanks for the insight, Flo!

Written By: Kevin Puntschart

Flo, how did you get started in crypto communications?

What role does PR play in all this?

You talk about enlightenment. What do you mean by that?

Can you explain how you approach something like that with an example?

Which communication channels do you choose when you want to communicate crypto topics?

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