Blockchain: Reinventing Trust In The Advertising Industry

Asia Blockchain Review
April 25, 2020

The age of billboards, posters and traditional media has given way to social media marketing, and it has drastically changed the way we look at things. When it comes to delivering and capturing events, it’s absolutely a game changer for society. It is indeed a force of data dissemination to the public. Yet, the powers to decide what they want or who they want to rely on when it comes to purchasing and identifying any services or goods being marketed is still up for grabs.

A notable feature for the future technology of Blockchain is the whole concept of anonymity. The exclusivity of the system started on the transparency of every single data being aligned, delivered and transferred. Although advertising methods differ for every market, the rule of thumb is solely on the authenticity of information and why it was even marketed in the beginning. Thus, the future technology would not only exhibit good traits, but voluntarily surrender the data at all ends so that everything is secured and can be easily traced.

The Future Is Here

Coming in from various industries at the beginning of time and space, data is always considered as a precious asset for any organisation. It could be about the management of the entity, to advertising methods tracking to the end products that have been established for many years. Despite it being new or old, everything sets a pattern that could eventually reveal the truth of the indicator. Blockchain sets a tool of ultimate democratisation which will open up new possibilities and opportunities.

Fraud No More

In short, advertising methods come in all shapes and forms. From digital to traditional ways of doing things. The only difference for both is the dissemination of the process and how much it can affect the communities at large. Despite digital transformation being a huge aspect for the current world’s development, challenges are still around; yet it can be overcome. Thus, overcoming obstacles towards a transformation of digital advertising with the help of blockchain technology is a substantial move for all. 

Data is already a product, as various companies have the fear of losing the Intellectual Property (I.P) that truly validates and makes them unique. Convincing the system and data of trust shall be protected at all times and always be aligned with the complex ecosystem. In essence, adapting and scalable aspects of work into the technology requires new ways of processing, standardisation and authentication. With that being said, the transparency of Blockchain will need to be impeccable and agile in terms of compliance.

Technology of Trust: Blockchain 

The core concept of the future technology is having trust in the whole system. From data blocks, to chains and direct identification of who has the access, who can edit to custom dashboards — everything is a transparent process from end to another. Apart from that, regulatory uncertainty is a real deal because there is too much conversation between the jurisdictions to force in making it a prominent feature for all industries.

To sum up, Blockchain technology has not yet become a leading aspect in the digital advertising world, as compared to other industries. In spite of everything that it represents, changes are bound to happen in the next year or so in areas like credentials management, rights of music and payment, safeguarding of the supply chain industry and the fight against counterfeit products of all kinds.

Source: Investopedia

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