Today everyone is talking about Blockchain. This is a new technology developed on the basis of bitcoin. From the very beginning, this innovation was related mainly to cryptocurrency, finance, and transactions. That’s obvious because decentralized encrypted ledger allows people to make payments easily, safely, and without any intermediaries.
However, the scope of blockchain application is broader. One of the industries in which new tech can be successfully applied is digital advertising.
Why will things be different?
Let’s try to define all changes of the advertising sphere that blockchain brings in. There are some benefits of this new tech.
Elimination of ad fraud
Ad fraud prevention is an urgent issue for digital marketing. Bot traffic and clicks distort the real facts. In this case, entrepreneurs cannot estimate the conversions of their ad placements in real time. That leads to cash losses.
The new encrypted ledger will change the situation. Blockchain adds transparency to the digital media marketplace. It provides an opportunity to verify Ad Metrics, track all impressions.
Los Angeles based company MetaX successfully utilizes blockchain to fight ad fraud. They offer the best solutions for both advertisers and publishers.
Having no intermediary
Blockchain allows companies to pay their target audience for ad views directly, without third parties. Such an approach greatly facilitates the ad buying and selling process. The assets won’t go into the hands of mediators.
The established system of digital advertising is not perfect. It demands improvement. Advertisers gather the information about users from different sources. Blockchain provides more security. The data in this chain are well-protected. So, blockchain-based systems allow users to share the information they are willing to reveal with advertisers. Merchants get an opportunity to target specific public, those people who really need their products or services. That allows spending advertising budget more wisely.
Digital Media Rights
Blockchain can help to solve the problem of the content ownership. The data are protected in the ledger. So, all files, video materials, workmanship are saved in encrypted format. It is impossible to change this information. Blockchain functions on the basis of smart contracts in media marketing.
Today data privacy becomes more important. Traditional digital advertising does not imply such high level of transparency as the blockchain-based environment. People can decide what kind of information they are ready to transfer, whom it is being sold to, in what way, etc. Users get compensation for the data they are sharing.
Many experts claim that blockchain will revolutionize online advertising. It provides absolutely new approaches to the marketing industry. However, there are still a lot of problems that need to be solved.
The lack of knowledge prevents startups from implementation this tech. Participants of the digital market have to develop certain standards. The low speed of transactions also waits for smarter solutions. So, the decentralized ledger will have all chances for success only with further investigation and improvement.