10 uses for blockchain in digital advertising

24 April, 2018

Blockchain is the buzzword of the year, leading a variety of industries to research how the technology can improve efficiency in an increasingly competitive global market. Some companies are improving business practices through the technology while others are trying to cash in just by changing their name.

Put simply, blockchain is a decentralized digital ledger that records transactions permanently and immutably, secured with cryptography and a global network of computers. Blockchain technology can even be used to automate the execution of a contract in such a way that it bypasses the need for trust between parties.

Nonetheless, blockchain is in its infancy, with the gamut of potential uses yet to be explored. What we know already is that blockchain is highly versatile, with the capacity to benefit everyone from international computer companies to the local brick-and-mortar shop down the street.

Little has been reported so far about implementing blockchain in the field of digital advertising—but as opportunities arise, marketing companies may look at blockchain as part of the solution.

In digital advertising, blockchain technology can be used:

  1. To confirm delivery, performance, and engagement of ads.
  2. As a payment delivery system for third-party contractors, and others for the creation and distribution of the ad.
  3. To show consumers how their individual and/or aggregate data is used.
  4. During contests or events where voting occurs, to authenticate users and their number of votes cast.
  5. To create rewards programs for customers, while ensuring customer submissions and points are accurate.
  6. To eliminate an actual paper trail by creating digital paper trails for contracts, policies, and other forms.
  7. To purchase rights from content creators.
  8. To minimize spam, hacking, and fraud and to increase security and privacy overall.
  9. For crowdfunding new services or products or in the creation of new ICOs.
  10. To incentivize customers to give personal data such as interests and plans.

These uses are only the beginning for marketers. Blockchain provides a decentralized, secure, and transparent means of authenticating users and their online behavior for digital advertising. And blockchain can do it without the invasion of privacy that customers fear.

 

Image via Pixabay



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