Blockchain technology has come a long way since the Bitcoin whitepaper was published back in 2008. This impressive and world altering technology has evolved immeasurably, going from a single network for payments to just about everything you can imagine.
Virtually all industries are benefiting from blockchain technology, but it’s the digital advertising industry that’s reaping the largest benefits. How? Thanks to immutable data storage and transparency, the supply chain management for digital advertising has now become better than ever!
What is Blockchain Technology?
Blockchain technology is fantastic, yet simple in its ideology. It is a decentralized ledger that records all transactions across a peer-to-peer network. It allows all participants to independently confirm transactions without authority, whilst records are immutable and cannot be altered.
In terms of the digital advertising world, this gives companies the power to collect and store data on-chain. Companies gain the ability to back up results with analytics that cannot be altered or tampered with, as well as reduce the potential for ad fraud and mismanagement.
How is Blockchain Used in Advertising?
Blockchain technology is empowering digital advertising agencies, giving them unmatched tools to get the best results possible for clients. One use case of blockchain in advertising is cryptographic verification to reduce ad fraud. This helps to cut down the number of bot views by cryptographically verifying traffic. Agencies can then blacklist the sites that are delivering bot traffic and views, allowing campaigns to run more effectively and therefore making campaigns more effective.
Combine this with the clear, concise and effective data, and ad spend can be adjusted in a heartbeat. This way, the budget can be redirected away from poor performing sources and directed towards the best performing sources, giving clients a better return on their spend.
How is Blockchain Affecting Marketing?
Arguably, the most exciting part about blockchain technology in crypto marketing is how it’s making major changes. Gone are the days where ad platforms are relying on servers and media centers to deliver their content. Ads can now be stored on and delivered from a decentralized blockchain. If one node goes down, there are dozens scattered around the globe to keep the ads flowing.
Throw in the increased transparency and trust and you’ve got an unmatched service. All of these features of blockchain in marketing deliver an optimized value for clients and it’s something that all companies should be looking for when they’re opting to buy ads.
But, it gets even better. Some of the biggest players from the crypto advertising world that have been in the game for decades are starting to join in. Platforms like Bitmedia who are the pioneers in the crypto advertising world are combining this powerful blockchain technology with their unrivaled expertise. This is creating a new breed of blockchain-based crypto advertising platforms that will deliver results like never seen before! On the opposite side of the spectrum, off-blockchain advertisers can benefit from getting access to the $1.9 trillion community that the crypto world has already become.
Are Blockchain and Cryptocurrency the Same Thing?
A lot of people confuse blockchain and cryptocurrency, and they can be forgiven for thinking this. Blockchain is still incredibly new and it’s just making its way to the mainstream, meaning that we’re at the stage in its lifecycle where education really needs to gain traction.
Blockchain is the technology. It’s the platform that runs and stores data. Cryptocurrency is the medium that is used to interact with the blockchain and make use of it. Think of it like cars and gasoline. Blockchain is the car and cryptocurrency is the gasoline. Individually they’re useless, but together they create an incredible machine that will change the world.
When you write data to the blockchain, you need to use a specific cryptocurrency. That cryptocurrency will be the native token of the blockchain in question. Let’s say that you want to write a pile of data to the Ethereum blockchain. You’ll need some Ethereum to do this and pay miners and validators for writing your data.
How is Blockchain Technology Impacting Crypto Advertising?
This powerful new technology is making crypto advertising far simpler, while yielding greater results than ever before. The transparent data allows non-ICO communities to transparently see where project spend is going and the results they’re recording. It also gives crypto projects more power over their ad spend.
By being able to weed out poor sources of ad traffic by using cryptographic verification and store this information on the blockchain, projects can divert ad spend to the most rewarding publishers. This rewards good publishers that have genuine traffic with more revenue and projects with better value for their ad spend.
As more major players from the crypto advertising world begin to shift their technology over to blockchain, we’ll see these impacts grow dramatically. Blockchain in crypto advertising is a natural fit and the 2 industries mesh incredibly well together.
Blockchain and Crypto Advertising is a Match Made in Heaven
Blockchain marketing firms will rejoice at the power and utility that blockchain technology is giving them, allowing them to get better results and win more clients. By teaming up with the best crypto marketing and crypto advertising platforms they can achieve better results and win bigger deals moving forwards.
The traditional advertising industry is starting to embrace this new technology and its powers. It’s only a matter of time before blockchain technology weaves its way into every facet of our daily lives, making it easier and simpler to exist and do our jobs!
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