The term that has dominated many industries in the last few years and has continued its impact on every sector is the blockchain. Although the technology has become a buzzword and people are continuously discussing on leveraging blockchain, only a few know the true meaning. Of those who do understand, not all of them realize the scope of its future impact.
As more complexity has been witnessed in digital marketing, validation of data has become a big task. For this, social media marketers have relied on third-party tools to validate data. A recent study from business intelligence trends revealed that social media marketers could lose up to $16.4 billion through fraudulent traffic. Such fraudulent traffic can be overcome using blockchain technology. The key properties of blockchain technology that distinguishes from traditional technologies are integrity and transparency, which paves way for verification by the public. Changing or copying of information is not possible through blockchain technology as data is decentralized ensuring high-level security. Companies use this technology to give the users full control of their data. By using blockchain ad technology, intermediaries are eliminated by creating a direct connection between consumer and business. Blockchain helps in creating consumer profiles directly from customers for better targeting which means that companies will directly target potential clients.
Basic attention token (BAT), a blockchain digital marketing technology eliminates the middleman. It is the token used by BRAVE (a new browser from Firefox) that lets the consumers maintain total control of their data and browsing history. The biggest impact of BAT will be consumers choosing who gets to access and use their personal information and browsing history. This lets them opt-in for ads that they would like to see and skip those which do not interest them.
Ethereum (ERC-20), a strong supporter of BAT, is paired with Brave browser blocks ad popups and tracker malware. Adopting blockchain technology with BAT and Brave browser is a groundbreaking step into the future of the advertising market. Marketers who integrate this technology into their marketing strategies will surely enjoy the benefits of being an already established blockchain-minded agency in the future. Lastly, we cannot ignore that blockchain technology also helps drive smart contracts in the digital marketing space.