Today, Blockchain has become the new and revolutionary technology that everyone is talking about. It has been adopted in several sectors of many industries, ads industry is no exception. With so many frauds increasing day by day, ads industry is struggling with finding a solution for an effective ad delivery. Blockchain can be that solution as it offers decentralized database, consensus protocol, and data transparency.
Blockchain is a decentralized digital ledger that contains all the transaction. It works around the encryption of the data, timestamps it and then stores it in a decentralized database. This ensures security, immutability and data transparency among users.
Let’s discuss some critical points on how Blockchain will affect the current ads industry.
- Reducing Ad Frauds With Blockchain Technology
The abundance of fraudulent advertisement is on the rise. According to a study, in 2017 ad frauds has cost many firms a loss of USD 16.4 billion. This is where Blockchain perfectly fits in with its feature to track any transactions to its very end. This will ensure advertisers that their ads are viewed by real humans not by bots and help to reduce any ad frauds.
Blockchain can validate ad impressions by checking the authenticity of the domain and identifying non-default browser to check whether the ad delivery was real or not. Not only that, identifying and avoiding ad frauds in real time is now also possible through Blockchain.
Reduction in ad frauds will ultimately lead to decrease in ad spends, making it cost and time efficient as well as effective.
- Real-Time Data Tracking
Data is like oxygen for any marketing or advertising company. There is an ongoing need for real-time data tracking and acquiring. Blockchain with its features fills this gap and gives advertisers the relevant data, that too when they need it the most.
With this, marketers can effectively check whether ads are reaching their targeted audience or not. This way Blockchain helps marketers to manage campaigns more effectively.
Apart from managing campaigns with real-time data insights, Blockchain can provide marketers about the information regarding a client’s preferences. Advertisers can gain the insights about the patterns and inclination the client is utilizing for their targeted audience, channels, and platforms.
This can help advertisers to narrow down the targeted audience to a specific group according to the page content and visits.
- Better Data Security
The reason behind Blockchain being the hot topic for everyone is because of its security and immutability. Many successful Blockchains have not been hacked to date. This makes Blockchain a haven for the company’s confidential data.
Every transaction in a Blockchain network has to go through a verification process by multiple users within the network. After which, it is encrypted, time-stamped and stored in a decentralized database. Any illegal changes or transaction will easily be caught as the tampered data copy will not match other user’s data copy.
This will avoid any fraudulent acts through hacking. Blockchain being immutable is almost impossible to hack. Furthermore, even if someone tries to tamper the data, it won’t take time for other users to seize the fraud.
- Removing Any Middleman
With the surety of authenticity and transparency among users of the Blockchain. There will be no need for any third party like brokers to strike a deal between publisher and advertisers. It will be up to Blockchain to bring authentic clicks and traffic. This way publishers and advertisers will exchange data directly, removing any fees from the middleman.
With the third party removed from the picture, smart contracts will come into use. Smart contracts work totally upon Blockchain network. In it, a specific data or asset is released only if a specific condition is fulfilled.
- Data Privacy Solution
Today, authorities like social media giants, banks, governments, etc. have the power to control the personal data of a regular person. There are so many cases where these authorities are found guilty in leakage of private data for their personal gains.
Adopting Blockchain will snatch this power from authorities and give it to regular people. Users will be able to decide what data they want to share and with whom. This is a boon for marketers who have to obey GDRPR rules.
- More Genuine Influencers
Many marketing companies look for public figures and influencer to advertise their product. Blockchain technology will help them to get genuine top influencers according to the authenticity of their followers. This will not only help advertisers to get genuine influencer but also rat out any fake ones also.
Blockchain Technology can do wonders for ads industry. It can be the tool that will form a better future for digital advertising. With so many features to offer, it will be wise for many industries including advertisement industry to adopt it and reap its benefits. Blockchain technology will give companies a competitive advantage over others with its secure, immutable and transparent network.
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