Written by Julian
A professor of mine once said; "A piece of Art is worth however much someone else is willing to pay for it." In a sense, the blockchain model maximizes such a transaction. Advertising works in much the same way. Who decides how much a product is worth, and how do you increase the visibility and availability of your product and/or service without getting fleeced? These are all age-old questions that have plagued the marketing world for time out of mind.
Digital advertising is everywhere. Chances are, at some point today, you might have to wait for an ad pop-up to show itself before reading on. Or perhaps there are several ads flanking an article as you are trying to read it; or maybe several obnoxious links are dotting the whole page exhibiting annoying behavior. Do you know who or what those links are from and for? Could they be ploys or tricks? If they are genuine advertisements from very hard working, decent people with great products, how would you ever know if you simply dismiss the link as a trick to get your personal information?
Some of the tactics used by shifty companies include counting the clicks. When a client sees huge numbers of "clicks" on a certain link, it looks good right? Well, the click itself can simply be a user clicking the close button or the "No thanks" button or any other link on the ad, without ever reading the content. This has led to quality content itself becoming more important that just getting massive amounts of "Clicks" without any return on the advertising investment. It's difficult not to see this if you're in the business, or if it's your money paying for the ad.
Blockchain Technology; what is it?
You don't need to know how your automatic transmission works to put your car in drive and get to where you are going. The same is true for Blockchain technology which is, in a nutshell, a software program. A digital set of protocols specifically designed to record data in a logical timestamped fashion that cannot be tampered with or changed arbitrarily without the consent of pretty much everyone involved in the chain. The technology itself is not new, and if you're interested in some details as to its origin, click here.
The basic idea behind the blockchain solution is trust, combined with flexibility in implementation. It's called a digital ledger which can keep track of every detail of a transaction in any form, allowing all involved to see all the data. It's a perfect fit for digital marketing too. You can see where this is going, can't you? It's eliminating the quintessential "Middle Man" and allowing for full transparency; which in turn reduces the overall cost for digital advertising. It follows that higher quality content can be fashioned and included in the valuable ad space.
It may seem brilliant and extraordinary from certain perspectives, however, for all intents and purposes, it is a natural evolution in cyberspace. It almost seems like it was certain to spawn due to the circumstances which gave rise to it. Whatever the case, Digital Marketing has taken a quantum leap and the best is yet to come.