Disruptive or simple hype technology? Bitcoin’s underlying system is increasingly responsive and enthusiastic. Blockchain discovers new applications in areas other than the fintech and even the advertising world seems to be immune to adopting this “young” technology. Let’s find out why.
Not just Bitcoin. What is Blockchain?
After (almost) a decade since its inception, blockchain reinvented and discovered new applications. What is the quid of this technology that is gaining visionary vision of brands and tech companies? To understand it, we need to take a few steps back.
The blockchain was born as a decentralized system for the use of the bitcoin crypto-coin, to guarantee the security of economic transactions without any banking brokerage.
Thanks to the chain-of-block (the blockchain, precisely) and the encryption, each transaction is validated by the nodes that interact on the network and not by a single intermediary. No single central database, in favor of a system that creates a sort of great accounting book in which data and actions are spread across all blocks.
Each data leaves a trace, creating a new immutable block. Here are the key features that make Blockchain a potential resource for early adopters in the online advertising industry: transparency, security, and accessibility.
Blockchain and advertising: Do this wedding works?
Invasive pop-ups and banners, deceptive content, untrusted data verification … there are so many gossips of users and media enthusiasts in marketing and advertising that make advertising an element that is often undesirable and ineffective.
Even if the editorial world has let loose on the potential of this innovative technology, it is not impossible to think of the benefits of blockchain application even in online advertising.
Thanks to the open and decent nature of the system, blockchain becomes an increasingly popular and exciting technology for the advertising world.
Transparency, Security, and Accessibility: From these intrinsic blockchain features, it seems possible to create more secure and transparent data-driven advertising in sensitive data sharing, but also a more efficient targeting system and effective measurement of results. How?
Traceability: for a world without fraud
In the not too distant future, publishers could use a new superpower: a blacklist of websites that do not meet the publishing requirements, allowing them to safeguard user security and the credibility of publishers themselves. Blockchain technology can, therefore, affect the cost and effectiveness of ad serving, thanks to the decentralized block system.
The decentralized and open nature of the blockchain becomes useful in verifying.
The MetaX agency, for example, proposes adopting adChain for digital advertising. Target? Make the world of display advertising less fraudulent and more transparent.
AdChain is a decentralized database of data encrypted and distributed among the elements that make up the blockchain. Once verified, thanks to each node in the network, the impression will become a chain lock, which is an immutable element of the large accounting book that the blockchain lets you create and store.
Security and accessibility: the world is increasingly data-driven
How will data processing change through the blockchain system? Traceability and privacy will no longer be a dichotomy.
Data flows will become increasingly widespread, but their storage will turn into a more transparent process, responding to the need for brands to favor a direct interaction with the consumer due to the disintermediation allowed by the blockchain.
At the same time, data traceability can be reconciled with the privacy of users, protected by the blockchain-secured cryptographic system.
Pioneering companies include BitTeaser, Denmark’s advertising network, which makes blockchain technology a real asset for online adv, enabling viewing of all real-time click-through clicks on the “chain-of-blocks” that thus making the process more transparent, accessible and secure even for users.
Even the video advertising peers and experience the potential of blockchain system. One of the latest experiments is the one launched by Comcast Corporation, one of the leading cable operators in the USA, which this summer announced the creation of a Blockchain Insight Platform. it is a project involving companies from around the world (from Disney to Mediaset Italia) and aims to improve video advertising by making it more transparent and secure in terms of targeting, measuring results and more efficient planning.
Early adopters, collecting!
Among the first experiments and potentials still to be discovered, blockchain gradually reveals its eclectic nature, generating enthusiasm and skepticism.
What will be the real innovation of this system? It will be the creative and analytic estimate of early adopters to unveil the real applications and the utility of the technology born with Bitcoin.
And how do you imagine the future of blockchain in marketing?