The problem is the root of all innovation. And now, in the field of digital marketing, there are two common challenges to the industry, both awaiting innovative solutions. The first is digital advertising scams, presumed $ 35 billion lost in advertising fraud worldwide in 2020According to cybersecurity company Cheq. The other, on the other hand, is the ongoing debate about cookies and user privacy. Parliamentarians continue to crack down on the use of personal information for audience segmentation and targeting worldwide. Still, a remedy for these two problems may be right in front of us. It’s blockchain technology. We often face hesitation, perhaps due to the uncertainty about what we can actually achieve and the hurdles we face in terms of scalability and the environment, but blockchain stays here-and for good reason. .. In a nutshell, blockchain technology is the only unhackable, completely transparent and reliable source for enterprises to record information and authenticate products and transactions. From luxury watches to wine, real estate and even Air Jordan, everything can be verified and tracked on the blockchain. But how can this technology help with digital marketing? And what are the limitations or shortcomings of the new blockchain for the future?
First, there is the potential feature of blockchain to prevent fraud through what is called a “smart contract”. A smart contact is a simple program stored in a block to run when certain given conditions are met. For the sake of explanation, imagine that users, advertisers, and publishers are all on the blockchain. This means that data such as ad placement options, users (and advertised consent status), engagement metrics, reach, and pricing will be validated and updated in real time. In this environment, marketers can create smart contracts to purchase future ads from publishers and ad networks based on a number of criteria. This may not seem like a very different process, but the additional layer of security from all three validation processes means that each impression is validated and validated before the ad is served to the user. To do. In other words, it becomes incredibly difficult, if not impossible, for fraudsters to abuse publishers through ad stacking, clickbots, or non-human forms of fraud. And what about privacy? Recent numbers show that 58% of ad blocker users chose to do so to protect their privacy ()eMarketer, 2021), Emphasizes the importance of this issue. Nevertheless, blockchain may provide users with the opportunity to own data and choose how to engage with advertisers. For example, the Brave browser, a company outside the United States from the founder of Mozilla Firefox, pays users a basic attention token (called BAT) when they accept to publish or use a particular ad unit. .. This constitutes user consent and shifts the paradigm to a more specific value exchange paradigm. Perhaps scrolling Instagram actually costs money. And importantly, as the platform begins to recognize the value of your data and engagement, advertisers will have the opportunity to regain trust with their users and rediscover the joy of a great advertising experience.
But before all of us are hyped on the blockchain, of course, there are some challenges to tackle. The blockchain was created essentially to support cryptocurrencies like Bitcoin. Bitcoin remains unregulated and unstable. It’s somewhat ironic that blockchain has the power to fight fraud and at the same time create space for people to work outside the traditional financial world. Everything is tracked. However, users can operate more anonymously. This dynamics can change in the future as banks and businesses implement their own blockchain solutions and evolve the current financial ecosystem. Based on this, current blockchain (such as smart contract) transactions typically use the blockchain protocol and its associated cryptocurrency called Ethereum. However, Ethereum has a long way to go before it is adopted by businesses all at once and expanded for everyday use. Not only expensive and slow Carbon emissions It is also an unsustainable option for industries and companies that are currently keen on environmental issues. Ethereum claims that an upgrade is approaching, but the space is on the verge of rocking as other competitors such as Hedera Hashgraph and Aussie-bred Immutable X are also present in this space.
After all, it’s probably time to start learning and consider blockchain as a potential future solution for marketing. Blockchain may look like a distant revolution, and it may never happen, because innovation is often fast and ruthless.And at these moments I regret Clip from Bill Gates at the David Letterman Show in the United States in 1995.. In the episode, Bill Gates explains how the Internet works and why he believes the Internet will revolutionize our lives and businesses. But Letterman has a retort for all the examples he provides about how the Internet can change his life. Gates explains that you can use the internet to listen to baseball games. Letterman says he has a radio for that. Gates replied that he could listen to the game at any time, and Letterman said he had a tape for it. Gates says he can get the latest information about his hobbies. Letterman states that he subscribes to two magazines. Finally, when Gates says he can use the Internet to connect with others and become part of a social network, cats and mice stop coming and going. Letterman just laughed, “Why do I want it?”
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Charles Dangibo
GroupM Product Director Charles Dangibeaud
