Before we dive deep into the world of digital marketing and how blockchain technology will play an important role in the further development of this section, it is important to know what the blockchain is and how it functions.
Blockchain technology is a systematic process of recording transaction data and information. The data is stored in a digital exclusive ledger distributed among the nodes of a computer network. The transaction data is recorded in a highly secure system which is important to change or hack.
The rise in the popularity of blockchain among internet surfers was noticed with the rise in the hype of cryptocurrency (Bitcoin, to be precise). The idea of a global digital exclusive currency is an old one, but it was always surrounded by gray clouds. With the blockchain system, digital financial services have reached the level of sector dominance.
Blockchain has already proven useful in many digital exclusive areas such as money transfer, data sharing, supply chain monitoring, preventing ransomware attack, and many others.
Blockchain technology is also acting as major back support for the idea of industry 4.0. The digital exclusive blockchain technology has created a vast fertile land of innovation, acting as the backbone of the Metaverse. The data recorded in the system is stored in blocks. Each block has a set limit. Once full, the blocks are attached to the previous block. This leads to arranging the data in chronological order in a formation of an immutable chain.
The Role of Blockchain in Digital Marketing
Blockchain technology has proven to break through the typical methods of digital marketing. It has also transformed how targeting niche audiences is done. The transparency and security of blockchain technology have given better transparency between the service provider and the consumer. This has eliminated the hassle of the middleman and made it a digital exclusive.
It also provides an in-depth analysis of the ad campaign. This helps to create an equal digital exclusive opportunity ground for all businesses. With the ease of ownership, efficiency and the evolving industry 4.0, blockchain is growing deeper into everyday market sectors.
A simple example of such a blockchain-orientated company is Coruzant Technologies. Coruzant Technologies is the first and the biggest publication company based on the NEBLO blockchain. With the emerging tech in Coruzant and blockchain technology, the publication sector is already experiencing the big change of industry 4.0.
It is creating a digital identity for recording assets making it digital exclusive. This opens various opportunities for many other work fields to enter this decentralized network.
4 Ways in Which Blockchain Improves Digital Marketing
The blockchain is generally associated with cryptocurrencies such as Bitcoin. Although, to many astonishments, blockchain has much broader applications. Blockchain has the ability to verify both sides of the parties in a transaction. It makes a permanent public record of the exchange. This impacts all areas of business.
Blockchain is set to disrupt a lot of ways various businesses do digital exclusive marketing and advertising. The good news is that many of these changes have become the reason the playing field is leveled. This allows small companies to have similar access to consumers as the larger ones.
So if you thought blockchain is simply about currency, we’re here to tell you otherwise. Below listed are a few ways blockchain will improve your marketing and advertising.
1 Buying of Ads Without a Middleman
If you’re someone who runs a business, you always want to make sure that you buy ads that go up on high-quality websites. Alongside, you are also targeting the audience you want to reach out to.
With the blockchain here now, you can skip ad networks entirely. Every user will be automatically verified on the blockchain. So, we don’t need a third party to be involved in creating a sense of trust. This process bridges the gap between companies placing ads and websites with space available. Making their work even easier.
2 Improves Security
In today’s times, data security is a massive issue for anyone who buys and sells online. There are frequent security breaches that make the news, every now and then, as we know. All this makes us question whether our identity and financial information are at risk of being compromised.
With the blockchain taking over, each transaction is verified and also made publicly visible. But, the people involved are anonymous. This system provides better security for every transaction made. All while everyone involved is still totally anonymous.
The company will verify the campaign details such as the type of ad, where it will be published, and the payment to be given. Next, the digital marketing agency will verify that the ad creation process has been completed. Finally, the website owners will verify that the ad indeed has been published on their website. All this is done on the blockchain.
3 Sellers Can Find Quality Consumer Information
People want to keep track of their personal information. And we’re sure everyone is tired of signing up with one company only to start receiving ads from many other companies shortly after.
The blockchain solves this issue by giving consumers a chance to charge for their contact information. This also makes sure that only the companies they are interested in receive their specific data. This may start off to seem bad for businesses, but hear us out. This is a great alternative, compared to wasting money on data which includes people who are completely uninterested in what you have to offer.
Instead, you’ll receive only targeted, accurate information on people. These are the ones who are genuinely interested in your company and what you have to offer.
4 No More Fakes
Fraud and scams have always been a big threat to digital exclusive businesses. Like any other market sector, digital marketing and advertising have experienced a major impact on goodwill and trust. Consumers have experienced various frauds leading to the disturbance of one of the most important methods of growth.
Blockchain technology has created a trusted environment. This is possible by providing security to both consumers and the service providers. It also cuts down any middleman or unauthorized individual or company.
The blockchain is, in every sense, the future of digital marketing. It is lending a helping hand to small businesses. Blockchain is making them capable of competing with giant digital exclusive companies. Moreover, it is reducing costs, and increasing transparency between buyers and sellers, building trust within every community.