Blockchain inn its opencast is for selling and buying of cryptocurrencies, but in reality it is much more than that.
It is mandatory for the business professionals to observe the emerging trends and comprehend how blockchain technology works which will effect your business today and also in future.
Even though you are not planned for implementing cryptocurrency as a payment method, acquiring the concepts of blockchain is still essential because it is revolutionizing the digital marketing industry.
Here’s what you want to know. Let’s initiate with the basics.
An Overview of Blockchain
Blockchain technology can be correlated to a shared ledger or an open record system which is useful to track different transactions efficiently.
As mentioned earlier, cryptocurrency is what comes to mind first. But blockchain is employed to keep track of data such as home records, voting records, and medical information. As the term “Blocks”symbolizes that each transaction is segmented by blocks. Once the blocks are verified, it can’t be changed. Any user can see the transaction in blockchain that represents its transparency.
Now, you have comprehend the fundamental principle of how blockchain works. Right? Proceed further to know how the blockchain technology revolutionize the digital marketing industry.
Eliminates Middlemen in Digital Marketing
Blockchain technology obviate the participation of middlemen in the digital marketing industry. At present, marketers go through third parties for handling the advertisements.
Let’s take a company which desire to furnish banner advertisements on its website. But it dislike to sell its ad space to anyone.
Ads in link with low authorization or sketchy businesses will never build credibility to website. In this cases, how this company will proceed?
How does this company proceed? It goes through a platform such as Google. In this case, Google will act as the middleman. Through participating in Google Adsense, the company assures that, it will be in connection with the credible businesses which need to acquire advertising space. To point out,this progress makes both the parties to feel secure about the ads.
The site which sells the the space knows that it won’t have any bitchy content from unreputable brands which displayed on its page. Moreover, the company which buys the advertisement knows that its ads will be run on legal sites. To mention, Google progresses the transaction and charges certain fee for its concern in the deal. At present, the marketers are processing without blockchain technology.
Let’s employ the blockchain technology for this instance.
With the blockchain structure, there is no need for the companies to go for the third-party platform such as Google. This is because, blockchain users can be easily substantiated ny this network. To mention, it is a safe and secure way to progress each transaction. Hence, blockchain ultimately, eradicates of intermediaries.
Google and its advertising platform are not going anywhere just yet. That is not I’m saying. It’s still arguably the significant powerhouse in the marketing industry. Don’t caught my point wrongly. Im not saying you to excavate your Google AdSense strategy either. Instead of that, I’m telling the concept behind blockchain technology will make it
All I’m saying is the concepts behind blockchain technology will make it achievable for the companies to head off these sorts of third-party platforms.
To point out, excavating the middleman will make the Ads more remunerative even though marketers won’t have to pay additive fees for the transactions.
Security must be a Priority
As technology becomes a part of our lives every business must prioritize security more than ever.
Don’t grab me wrong, businesses always needed to underline website security and conserving customer information.
However, blockchain can be useful for the processing of transactions, the malicious advertisements becomes an issue.
People usually concern about malicious malware and viruses when it comes to their privacy and ads. Blockchain technology will make this possible.
Being a business owner, you must acknowledge this and at least set yourself to accommodate when these types of payments profits more traction at the mass consumer level.
As result, blockchain technology and its applications has the ability to deviate the digital marketing world as we well knew it. It provides a power to marketers to cut off middlemen while buy and sell advertisements.
As blockchain transactions is an open ledger, it can be seen by anyone. As well, businesses will be responsible for their actions and strained to be more transparent.
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