Cryptocurrencies such as Bitcoin and the application of the Blockchain technology seem to have been adopted by the finances and elements of the business world, including everything from online loans to bank liquidation and settlement.
But what other industries can benefit from an encrypted and decentralized accounting system?
Marketing and digital advertising seem to be next on the list with both positive and negative applications …
Let’s look more closely:
1. Cut the intermediaries
The Blockchain will allow brands to cut the advertising platforms of intermediaries so that they can address consumers more directly. Because the technology is transparent in nature, it could also generate more trust between the brand and the consumer at a time when a record number of people are completely blind to online ads.
One way that blockchain is tested with advertising is through the similarity of user behavior and the development of a credit system.
However, it remains to be seen how it will unfold. It will take a lot to eliminate giants like Google and Facebook and they themselves could adopt blockchain in some way to maintain control of the market.
2. Ad Hijacking
One element that is impacting digital advertising but that is not directly related to its evolution, is the rise of hackers who infect traditional online ads to hijack people’s computers in order to extract cryptocurrencies like Bitcoin.
The mining process is done through the power of computation, so you can understand why it makes sense to hijack other people’s computers.
This will force reputable advertising platforms to exclude such advertisers, but it will also force us to reconsider what we consider ethical advertising.
Could we see a dynamic where consumers allow content creators to use their CPU power as a form of payment, a complement to Patreon’s model?
3. More user control
Due to Blockchain’s transparency, we can enter an era of digital advertising that gives users more control over their privacy. They choose what they want to share with advertisers and advertisers pay users a small amount of cryptocurrency for accepting their ads and giving them access to their data. This model is crossed with smart contract platforms such as Ethereum.
The Brave Blockchain browser and its Basic Attention Token (BAT) are currently working on a way for users, advertisers and publishers to operate more openly in ‘online attention’.
There are even those who believe that the Internet will move to a blockchain network when consumers get tired of the traditional giants that exploit their data and invade their privacy.
Blockstack can be part of the way with its network of decentralized applications. Then there’s Skycoin that powers the Skywire network. Developers are paid in the currency for providing services and security for the network.
All this, obviously, will have an impact on the commercialization space.
4. Fewer false clicks and traffic, genuine influences
At this time, there is an epidemic of bots and scammers sucking money from digital advertising and even allegedly having an impact on elections.
In fact, it is estimated that more than $ 1 billion is lost for advertising fraud each year.
The blockchain also has the potential to regulate and verify when the clicks and traffic are genuine or if something is happening.
Blockchain could also be able to eliminate the genuine influencers that create real results for marketers and phonies with false followers and fraudulent returns.
5. New delivery platforms and reports
The delivery of video content was the first area affected by blockchain technology and will soon be expanded to all areas of digital advertising. It will change the way you sell, deliver and measure your ads, with a new level of accuracy.
Blockchain can also allow publishers to pay for printing delivery instead of the extensive Net 60 to Net 120 network.
It may be too early to predict exactly how Blockchain will change marketing, but of all technologies, it will be the most disruptive in the future.
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