One of the most talked about technologies of the moment is the blockchain, and the system is now beginning to be seriously and carefully evaluated by different industries besides the financial one, as a way to bring more transparency and security to transactions and records. But what is blockchain and how can it revolutionize the advertising, marketing and content industries?
In a general way, blockchain is a decentralized network that operates in a way that is similar to torrents. Transactions that take place on this network (transactions of values, documents or otherwise) are only completed by consensus between several blockchain nodes, and this validation is recorded in a historical current, storing all previous transactions and that cannot be changed.
Blockchain’s potential in the advertising and marketing industries is directly related with several aspects – for example, digital advertising fraud. The technology, in the medium and long term, can help establish more direct and transparent relationships between industry players, facilitating transactions and payments between brands and content influencers or producers through pre-established protocols between the parties. Ad delivery data and video views, for example, can easily be accessed on the blockchain.
Consumer confidence is a very sensitive issue in these industries, and the blockchain technology can certainly help companies build trust through transparency in many ways, such as by increasing the level of verification and documentation of information and operations.
In addition, blockchain can give consumers greater control over their own information by balancing advertising with consumer identity concerns. It can even allow consumers to charge for their contact information, and their attention as well.
But all this is not just a hypothesis, but an actual reality. TAP Network, for example, is harnessing the power of the blockchain technology to completely change the advertising and marketing game on the Internet.
In fact, this rewards platform uses blockchain to allow consumers to take control over their personal data and decide how to best monetize it. In addition, users of the TAP Network can be rewarded for the purchases they make across its network of over 250,000 partners, which includes hotels, restaurants and many e-commerce companies.
While the TAP Network is a real-world and live example of just how blockchain can make a difference, the truth is that there is room for this technology to complete disrupt several industries, just like media, entertainment and advertising – just ask IBM.