The blockchain technology is the underlying power behind digital currencies. Since the advent of the first cryptocurrency in the year 2009, the underlying technology has become prominent in transforming the financial sector, the academic, the health sector, transportation and others. The inherent benefits of the technology are inexhaustible, as it is revamping every facet of human society every day.
The blockchain is a decentralized, distributed and the public digital ledger that is used to record transactions across many computers and cannot be distorted easily. The blockchain tech is a very vital tool in the future of technology just like the emergence of the internet era about 25 years ago.
Blockchain tech is also revamping the digital marketing space, through its transformative features. Before the internet era, marketing was quite expensive, but it has experienced a change in the internet era. However the transition thus far still has many faults which the blockchain tech is progressively changing. Marketing is key to the survival of any business or firm, as crucial as it is, is also the blockchain technology to marketing in this present day.
How blockchain is Transforming the Digital Marketing
Privacy of Customers
Digital marketing requires obtaining the information of customers by advertisers mostly, and the existing templates offered a chance for breach of information. Details about activities of online users are easily collated by the browser and given to different platforms.
The inherent weakness makes breaching of information possible and unwanted advertisement to be made to many internet users. But with the blockchain tech, an internet user will get to choose the data to be made accessible to all.
The centralized feature of Facebook, Google, and related platforms has made data breaching easy. With sales of data to different companies. But with the blockchain tech data sharing happens by the consent of the owner.
Payment To Ad viewers and Reduction of Cost
The cutting off of intermediaries creates space for reduction of cost. Most of the payment made to the middlemen for a fake advert or unsuccessful adverts are paid out to real ads viewers. This system is already in use by the Brave browser, a blockchain developed browser. Ads viewers get paid for viewing ads, and ads are blocked with the consent of web users.
In the present template, ads are displayed to uninterested viewers, and the middlemen get paid for ads not achieving its purpose.
Choice of View By Internet Users
With users holding the right to releasing their personal information to whoever they fell, also is their choice to view ads. But with the introduction of blockchain tech, both advertisers and ad viewers can earn some amount of money for ads displayed.
The generous benefits of blockchain cannot yet be exhausted, even as the technology is still in its formative stage. In the new mode of revamping the digital marketing sector, it reduces the cost for firms, while consumers get paid and have better privacy.