Blockchain Technology Will Transform Digital Marketing And Advertising
I’m sure everyone at this point has heard of cryptocurrencies like Bitcoin, but have you looked into other applications of blockchain? Have you ever considered practical applications of blockchain in regards to digital marketing?
Blockchain has many uses, but when it comes to what it actually is, it is a lot more technical. At the core, blockchain allows information to be stored and distributed, but not copied. It is the perfect peer-to-peer network. When it comes to cryptocurryencies, every person has a ledger and creates an almost impossible scenario to hack, because you would have to alter each individual ledger. With blockchain everything is the same, so it is ultimately decentralized. No one owns or is in charge of blockchain as a whole.
Removing The Middleman
The middleman is still currently a big part in the world of digital advertising. Companies aren’t necessarily getting their full value with all the parties involved. Blockchain can provide the solution by creating a much better value for ad campaigns. In digital marketing, the central power players like Google, Facebook, and on a smaller scale Bing, ensure that your ad campaigns are reliable. You would essentially bypass the middle man and would reach sites directly. Blockchain would do the validating and proving that users, and click-through data are real. This would lower costs and increase ROI. Direct facilitation of ad buys with a system of checks and balances, would add value and trust to a diminishing system. By using blockchain, advertisers would be able to build a customer profile directly from the customer.
If you want to think of who has everything to gain, it’s the individual. The little guy. Budgets would stretch further. The giants like Google and Facebook stand to loose. It is an increase in accountability and decentralization move. Blockchain stands to add accountability with a almost tamper proof peer system to whatever it will be utilized for in the future.