Published by: Albert Gibosse
As people are increasingly fed up with the amount of private information freely
available to businesses, brands are being pressured to protect and empower the customer. To that end, companies are entrusted to ensure brand safety, enforce digital security and safeguard customer’s info against fraud.
The search for privacy and brand safety leads to the allure of confiden tial transaction.
Blockchain technology giving control back to the customer
Blockchain technology can act as an inadvertent regulator to the digital advertising industry. Granted digital advertising is built on a model where a central middleman or trusted media sites (LinkedIn, Pinterest, Facebook and Google) facilitate the advertising buying and selling process, blockchain has the ability to disrupt this model and allow advertisers to directly buy and sell to the user. For instance, some browser applications currently allow advertisers to pay people directly for viewing their ads.
The amount paid is calculated by monitoring the viewer’s “mental effort,” creating smarter advertising spend for brands and a better experience for their customers.
Other browser applications even allow users to access websites while maintaining their privacy and security. This service is powered by blockchain technology, where people explicitly give read/write permissions to their data. Information is then directly encrypted on their personal device, removing the need for a third party. Some applications allow customers to access the content they wish, without the concern of receiving unwanted targeted advertising — giving the customer complete control.
By eliminating the consumer’s identity from the purchasing journey, private details are no longer freely available to unsolicited digital marketers searching for leads. Thereby, an elusive source of lead generation may all but dry up. (Not so, as this rather creates higher-quality leads.)
Blockchain enables Marketers to generate stronger leads
Increased consumer control provides consumers with greater authority in determining when, to whom, and for how long their information is available.
Likewise, blockchain provides the marketers with higher quality leads.
Some companies using blockchain even allows the customer to sell their personal data for tokens. The exchange provides people with greater control over their data, while creating a massive database of up-to-date, quality leads. The database is built on the principles of crowdsourcing data collection so its growth is wholly dependent on the users who choose to contribute. By providing financial incentive, people are more inclined to offer their information. This dynamic will flip the standard of digital advertising models, causing a shift in power from marketer to consumer.
Blockchain technology is enabling digital advertisers to stay on top and ensure the success of future digital marketing strategies.