Blockchain is the most popular way to buy crypto coins in the world. Filled with trust, it allows you to securely store, swap, trade, and buy bitcoin, Ethereum, etc. However, blockchain technology has become valuable to many industries beyond its use in cryptocurrencies. It provides businesses with new opportunities, from asset management to regulatory compliance. No wonder the functionality of a blockchain development agency doesn’t surprise anyone these days. More and more business companies need help implementing this disruptive blockchain technology into the marketing suite.
The future of blockchain marketing has great potential. Let’s discuss three primary areas where blockchain may revolutionize your digital company.
Blockchain increases transparency and trust
Being a decentralized technology, blockchain doesn’t rely on a central point of control. Its functionality is based on the vast network of nodes that enables confirmation and approval of any chain transaction.
Traditional computing systems usually keep the data stored on a client-server network. Every action takes feeds into one place, so all action items are kept in a central location. As a result, most control is found in the hands of internet providers. This doesn’t seem to be a good idea.
Blockchain moved away from the centralized concept of hosting transaction blocks on hundreds or thousands of computers globally. Thus, data becomes available for anyone to verify on a public ledger. With blockchain, all transactions are put in the people’s hands in order to make data trusted again.
So what does transparency have to do with marketing? Well, using blockchain for marketing develops trust and enhances transparency with clients. Blockchain is there to demonstrate how the advertising attempts are managing their data. Sadly, a centralized client-run database makes it hardly possible to follow the data traces.
Blockchain reduces advertising fraud
Many businesses face fraudulent activities. To deal with the problem, companies try to cut their ad budget considerably. For example, Uber has reduced ad spending by $100 million but this didn’t bring any positive changes in the number of conversions or activities. Eventually, they found that their ad budget was still affected by fake apps, bots, and phantom clicks. Is there anything Uber can do to avoid the same mistakes? Will the company suffer from ad fraud? That’s where blockchain takes a step forward again.
The most logical use of blockchain is provided through user verification. Blockchain can be applied to ad networks to eliminate the middleman and keep track of who clicks on your ad.
By means of the open ledger, blockchain allows advertisers to detect fraudulent clicks and blacklist fraudsters. While latency issues and wide-scale adoption create obstacles, blockchain could be addressed to solve fraud issues throughout the available ad networks. For example, BMW has achieved early success using blockchain to detect fraudulent clicks/traffic and minimize wasteful spending.
The combination of blockchain transparency and accountability can help you avoid fraud and help your blockchain marketing agency to reach better accountability in regard to digital spending.
Blockchain provides security and protects the privacy
Protecting data is an absolute priority for small and large businesses. The average cost of data breaches jumped from $3.86 million to $4.24 million in 2021. In fact, this has been the biggest damage over the last two decades. And this number doesn’t seem to fall down in the nearest future, considering that most daily business operations are moving to the cloud or inter-connected devices.
Try your luck in blockchain for cybersecurity happens to be a smart solution. It is new but it has already obtained a lot of positive feedback. After all, security is an inherent element of the blockchain ledger. Every time a new chain is developed, it is encrypted and connected to the previous transaction. You can’t change them later on. You can’t hack them as well.
When it comes to the marketing industry, blockchain aims to develop smart contracts and establish additional security measures for clients. Smart contracts deliver a high level of security by verification. These contracts are used to automatically generate backups and create additional security, trust, transparency, and security.
Blockchain is the future
Blockchain still feels like something unusual to many people. You see the news about blockchain technology on TV and the Internet, but it doesn’t seem to affect your life yet. The situation is about to change pretty soon. Large corporations like Microsoft and Amazon have already switched their operations to blockchain for optimization of their daily routine and online security.
Advantages of Blockchain Technology
The growing risk of scams and fraudulent activities isn’t an easy thing to deal with in the marketing industry. So a blockchain marketing company has the potential to develop trust with customers, protect collective online privacy, and decrease fraud and theft. This is where blockchain provides a more secure and trustworthy digital experience.