Saving Billions: How Blockchain Is Changing Marketing & Advertising
Blockchain is a truly transformative technology in terms of ensuring transparency in nearly every sector of the economy. As the records of DLT (distributed ledger technology) transactions are kept on a public register, hiding or altering any of them unilaterally is next to impossible. This technology thus has the potential to prevent any abuse of power by intermediaries or other third parties.
Another big problem is trust. Feeling unsure whether to pay new publishers directly, advertisers tend to opt for verified middlemen, who may sometimes provide fake statistics or manipulate budget spending. Then, there is the high commission fee, of which little goes to the actual media owner.
Last but not least, consumers are getting more and more concerned about the relevance of displayed ads and how their private data is used for targeted promotions. Seeking to protect themselves from annoying, irrelevant or repetitive ads, people are tending to block pop-ups, or simply skip ads more and more.