Blockchain in Digital Advertising

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Blockchain in Digital Advertising
https//www.blockchainexpert.uk/
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• INTRODUCTION

When it comes into the financial market segment,
Blockchain is nothing less than the technology
underpinning Bitcoin. The innovation of
Blockchain for Bitcoin made it the first digital
currency to eliminate the issue of
double-spending without the need for a focal
trusted authority or server. We could say that
the innovation of Bitcoin gave a new derivation
to financial transactions in terms of
decentralization, security, transparency, and
reliability. The immutable record of transactions
between a network of participants made the whole
process simpler and quicker. Today, blockchain
is widely implemented across many segments like
document verification, supply chain, logistics,
health care, defense, security and so forth. The
architecture of Bitcoin has inspired these
business segments to adopt blockchain technology.
If we look closer, we can see that there are many
private blockchains that have been proposed for
many business use cases. Private blockchains for
media and advertising, academic document
verification, identity management have mushroomed
like never before. In this blog, I have plotted
a couple of benefits with blockchain in media and
advertising space.
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• We know, today, the advertising industry is not
  only blooming but also becoming more dominant and
  significant like any other moment. We could
  simply say, the urge for advertising is getting
  higher and higher as time passes by. According to
  the studies conducted by Forrester, it is
  estimated that by 2021, the spending plans or the
  marketing budgets for advertisers in the United
  States alone, will move to an aggregate of 120
  billion, which is quite large. And other
  countries are not that far from the United
  States. This simply indicates that there is no
  backing off from advertising at any point in the
  near future.
• With ad works like Google, Facebook, Amazon, and
  Apple, online advertising is nothing if not
  pliant. Yet, this flexibility is the
  advertisings greatest quality and its most
  prominent shortcomings.
• While blockchain technology may not self-reliant
  to cure all of the advertisings technical
  problems, however, it can play a significant role
  in the situations where there comes censorship
  and sides of the supply chain (i.e. publisher and
  advertiser) are dismayed at not having access to
  pertinent information. If you have limited to
  your imagination that blockchain innovation is
  just something that crypto-diggers and bitcoin
  enthusiasts needed to worry about, you should
  need to reconsider.

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Blockchain encompasses various intriguing
implications that the advertising and media space
can merit. Current Challenges in Advertising
Sector Online advertising is considered as one
of the most powerful medium of communication to
connect with the audience. It is proved that
online advertising can shape any brands at its
best possible ways, reaching the maximum
audience. However, the rising fraudulent
activities in online media is a matter of
concern. It was found that 7.6 percent of ad
displays were a fraud in 2017. And according to
the latest statistics released by Association of
National Advertiser, about 1 out of every 3
spent on digital marketing efforts are getting
invested in wrong places, making the advertising
efforts futile. It is estimated that in the US
alone the ad fraud has ballooned to 6.5 billion
dollars in a short span of time. In short, the
advertising space is becoming more and more
insecure and trustless. It is gradually moving
into a state of demolishing the delicate sense of
trust between a brand and its consumers.
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If one fails to take an action at the moment, the
online advertising practice can simply threaten
the longevity and potential reach of the brand,
end resulting in great loss to the
business. What blockchain can do in
advertising? Advertisers Can Directly Connect to
Consumers. With the no role of a middleman or a
broker, blockchain helps the advertiser to
directly connect their customer. This naturally
shields your promotions from rivals, bots, click
ranches and different types of snap extortion.
With blockchain, one can totally evade the role
of middlemen, make their presence totally
irrelevant to the exchange. This simply helps in
getting connected to the potential customers in a
more direct fashion. Nonetheless, the ledger at
the heart of blockchain providers the
advertisers, the critical visibility (i.e., an
advertiser can apprehend that the individual has
viewed the advertisement before making their
payment).
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Enhanced transparency Like its application in
the realm of cryptocurrency, the most significant
implication blockchain conveys to the segment of
online advertising is its transparency. The
majority of the real systems in this space like
Google, Facebook, Amazon, and Apple have made
huge investments however stayed dim and murky.
Blockchain with its tamper-proof ledger system
can empower the search engine optimizers via
confirming that each client is 100 percent
certified, which converts into site proprietors
being charged only for genuine clicks in their
webpage. In short, taking into the note, the
complex architecture of advertising supply chain,
blockchain technology can offer greater
efficiency, reliability and high-quality data for
processing the action. Being decentralized
peer-to-peer networks, blockchain eliminates the
possibility of failure and malicious hacking in
the advertising platform. This will curb down the
rising fraudulent activities said a forth. The
business organizations and advertisers can relax
at their place, that their data are placed safely
in the blockchain and are secure. They can stay
calm that the immutable ledger of blockchain
makes the information only available to those
blockchain members, who are the part of the
network thus retaining the layer of trust and
transparency in the advertising sector.
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