GET CALL FROM
BLOCKCHAIN SEMANTICS
COUNSELOR
×

Blockchain Semantics Insights


Business Case |  Deep Tech |  Announcements |  Blockchain Glossary | 
Blockchain Semantics Blog Blockchain for Marketing

Blockchain for Marketing

By Divya Singh | Aug. 10, 2018, 3:01 p.m. GMT

Hey marketers! Did you know blockchain has a little something for you too?!

Bitcoin and Blockchain are two words which we hear about every day. But do you know the impact it will have on the life of marketers? the blockchain technology is a blessing for all the industries dealing with multiple parties and requires data reliability. The speed at which blockchain is evolving, it will soon begin supporting ad delivery verifications and smart contracts that will help in handling customer data with more transparency, while improving the authenticity of products. 

Blockchain to help with security and transparency of data 

The debacle of Facebook’s customer data is common knowledge. It has gone a long way in making us all wary about sharing our personal data on anywhere on the internet, just in case there may be any instance of inappropriate use. While we live in a world that is so connected that we are always susceptible to digital invasions and blockchain may just be the solution we are so desperately looking for. The answer is – ENCRYPTION.

All data can be stored in encrypted forms in chunks on the network and use a digital signature (private keys) to access the data. This not only makes the data safe but also ensures that it cannot be tampered with and in complete control of your hands. How does this benefit marketers, you say? Well, good data is very important for marketing strategies and targeting. The data received from customers is more reliable and authentic. It is also universally more usable than data received from other unreliable sources.

Blockchain to use ad verification

It's almost next to impossible to confirm whether all the relevant ads are placed in the right places, even though the cost for auditing these ads is quite high. However, blockchain based protocols will make it infinitely more easier to track if the clicks are genuine or not. When the campaigns are encrypted, campaign auditing becomes more transparent.

Blockchain for affiliate marketing

Currently, we use a medium for affiliate marketing and Google and Facebook have made a lot of money by working as middlemen between advertisers and publishers, to confirm that the websites and their traffic are authentic. With Blockchain on board, we no longer require third parties to ensure the authenticity of a website.

Companies who have successfully implemented blockchain

Steemit:  A self-described "blockchain-based social media platform" has seen this level of notoriety in just its first few months of operation. To date, it has polarized blockchain experts while winning scores of newcomers to the technology.

OrionCoin is tackling the world of loyalty and reward programs.It uses blockchain to supply companies and their customers with loyalty points called “ORC.” There’s a finite number of ORC produced, which means that the more companies adopt OrionCoin, the more valuable ORC will become. Since there isn’t an infinite supply of ORC, consumers are more motivated to accumulate them.

BitClave: BitClave’s premise is that businesses need to pay high fees to middlemen like Google and Facebook. Instead, they eliminate this role using smart contracts, a program that automatically controls the transfer of currencies between two parties. In BitClave’s case, consumers have full control over their own data, without being forced to hand it over to an advertiser. They can choose to sell this data to businesses and opt into different advertising services.

 

If you liked the post, give it a   0
Apply for Blockchain Jobs

Course 1

Introduction to
Blockchain and Bitcoin

Course 2

Developing Decentralized
Applications on Ethereum
Using Solidity

Course 3

Investing In Bitcoin
and Cryptocurrencies

Comments


divya | Aug. 16, 2018, 9:12 a.m. GMT

Hey Devraj, For an instance, for a specific campaign, the publisher says x number of impressions were delivered, while the advertiser says Y number of impressions were displayed. This type of dispute cannot be resolved in the current system. Advertisers are forced to trust the publisher. Enter Blockchain. A public ledger is populated, with every system's impression data. Both the parties will have access to the data. Since the ads are encrypted and its impressions can be traced, the public ledger will become the sole source of getting accurate data. This eliminates the need of trust in the system.

Devraj Singh Rawat | Aug. 11, 2018, 6:26 a.m. GMT

How can clicks be verfied by using blockchain?

Devraj Singh Rawat | Aug. 11, 2018, 2:39 a.m. GMT

Hey Guys, I was going through your article and got bit confused how "a blockchain based protocols will make it infinitely more easier to track if the clicks are genuine or not. When the campaigns are encrypted, campaign auditing becomes more transparent."? Can you help me understand it