blockchain is the latest technology, people are associating with the finance market these days, but it is not limited to that. Even in digital advertising blockchain is integrating with various advertising platforms.
You must have heard about Blockchain lately in terms of cryptocurrency like bitcoin.
Blockchain is the latest technology, people are associating with the finance market these days, but it is not limited to that. Even in digital advertising blockchain are integrating with various advertising platforms. Basically, blockchain is a distributed transaction record between a network of people, requires no central control. Data is stored in a secure server located around the world.
The usage of blockchain in digital advertising is very unique. The traditional advertising platforms were using users' browsing habits and invading their personal space. Now with technology like blockchain can directly connect the advertiser to the right target audience and make the transactions safer.
The blockchain market is expected to reach over $23.3 billion by 2023 and $176 billion industry by 2025.
Digital advertising is expected to climb to $427.26 billion by 2022.
If you see the Google trend for “Blockchain advertising” is on its peak.
Well, the advertising giants like Google, Facebook, and other platforms were ruling the advertising space for quite a long time. These platform owns the data and manipulates sometime to make a profit.
Recently Facebook inflated video ads data and advertisers sued the advertising platform for overstating views of their video ads.
A lot of news surfaced around data inflation, data discrepancy, faulty metrics which help companies to charge you more then you suppose to pay for specific campaigns.
Data is more vulnerable today and ad tech vendors are using it as a profit-making strategy.
Even if you are a publisher, how would you know you are getting the amount you are entitled to.
Kanstruktor over at Steemit explains: "Decentralized network between advertisers and publishers through caching, and logging of clicks and leads, key statistics, personalized nodes in the blockchain operator MetaHash (fork of Ethereum – ERC20). It is a basic principle of protection against fraud and concealment of data on actual transactions from advertisers, or making unrealistic target bots in the traffic of publishers instead of real users."
People providing their personal information to these ad tech vendors in the exchange of rewards, but some companies use their data without their permission. These practices are unfair and illegal.
In this case, a technology has to emerge in advertising space to help the marketers to take control of the data accessibility, privacy and reliability.
Data is precious whether you are an advertiser or a publisher. Now with the help of blockchain technology advertisers are able to fetch the right key performance metrics and accurate data draw the campaign strategy.
Data is distributed and shared across the network. It reduces the chances of data theft and alteration.
Blockchain brought a very important feature in the advertising industry, that is transparency. Now the publishers know exactly who is playing them to advertise, and the information flow within the network.
It’s time when advertisers should be able to connect with users instead of the traditional auction technique for ads.
