“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” - Don & Alex Tapscott, authors Blockchain Revolution (2016)"

Blockchain a technology innovation which have built in robustness by storing blocks of information that are identical across its network. The Blockchain can’t be controlled by a single entity and has no single point of failure. Cryptocurrency is the most popular use case of Blockchain technology. The technology stack to implement Blockchain is also evolving with major technologies being Etherium, Hyperleadger and others. The investment in this technology shows the potential impact it will have in coming future.

A recent Forbes article by Daniel Newman, articulated the ways in which blockchain could bring up a paradigm shift in Digital Marketing And Advertising. I will briefly summarize the four ways, Daniel puts up in his articles that will bring a transformation in this space:

Establishing Trust with Ad Buys

With the increase in digital footprints of businesses around the globe, a lot of revenue of companies goes for exorbitant charges from advertisements. Most often its not clear if the advertisement reaches a real customer or a bot is simply inflating the stats, so that distributors could charge a high fee. Blockchain could help in determining if the people viewing their ads are members of their targeted audience—or not—saving millions in ad spend each year.

Evading the Middleman

Since at present there exit no mechanism wherein the companies can pay their targeted audience directly to view their ads, middlemen take the large chunk of the benefit (money) leaving the publishers merely with a small portion.

Targeting Audiences Better

Advertisers acquire information about customers from various social media platforms and many other disparate sources revealing their demographic and social status. However, using blockchain, advertisers will now have the ability to build a customer profile directly from the customer.

Improving Transparency

Improved digital information has made choices on purchasing decision quite difficult and often lead a customer towards buying even the counterfeit products. Blockchain’s digital ledger system allows for tamper-proof transparency of every product’s move through the supply chain. Buyers can easily check where a product has come from—who has handled it—whether it’s legit or faux, whether they are purchasing from an online auction or a brick-and-mortar storefront.

Probyto is collaborating with academia, businesses and organizations to develop a prototype for SmartAdPay. We welcome your feedbacks and happy to partner with you or your organization. Please contact us to get more details.

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