HOW CAN BLOCKCHAIN INCREASE THE TRUST FOR DIGITAL ADVERTISING? - PowerPoint PPT Presentation
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HOW CAN BLOCKCHAIN INCREASE THE TRUST FOR DIGITAL ADVERTISING?
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Digital advertising seems to be growing at a faster pace. More and more companies are now inclining towards the use of this mode of marketing. – PowerPoint PPT presentation
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Title: HOW CAN BLOCKCHAIN INCREASE THE TRUST FOR DIGITAL ADVERTISING?
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How Can Blockchain increase the trust for Digital
Advertising
- Digital advertising seems to be growing at a
faster pace. More and more companies are now
inclining towards the use of this mode of
marketing. Digital advertising has recently
emerged as a popular medium of advertisement and
a great way to reach maximum consumers. Despite
being a popular method of advertisement, there
are certain bottlenecks which need a check. It
makes digital advertising the breeding ground for
fraudulent and malicious activities.
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- There is a dire need to have technology and
systems in place which can guarantee safety,
security, and transparency of data during the
exchange of information Blockchain has emerged as
a popular technology which has given hope to
create a system which is highly transparent.
Blockchain technology can disrupt the digital
advertising ecosystem positively just as it has
influenced other industries. Furthermore, the
advertiser and publishers can mutually benefit
from this technology as it allows direct
interaction between the advertiser and
publishers.
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Problem with digital advertising system
- Before heading to understand why there is a need
for an alternative system, it important to
analyze the bottlenecks of the current system.
Based on our observation, here are a few areas of
concern which needs immediate attention
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Involvement of a number of intermediaries
- The biggest problem in any of the system is the
presence of an intermediary, they not only make
the entire system less transparent but also halts
the direct interaction between the producer and
the consumer. In the case of the digital
advertisement, there are a number of
intermediaries between the advertiser and the
consumer. They take the commission and hence the
deserving party gets lesser pay than what they
should be getting.
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Lack of Regulation -
- This is yet another shortcoming of digital
advertisement, there is no transparency and
regulation on how the digital assets of the
advertiser pass through the value chain.
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Fraudulent activity -
- Another probable reason what makes digital
advertising inefficient is the deceptive acts
which people use to earn revenue via ghost sites,
bots, inapt placements. It indirectly affects the
revenue of the company and also leads to lack of
trust.
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What is the current solution that the
advertisers
are adopting?
- Well, it is not true that nothing is being done
to put a tab on this, the advertisers set up the
auditing which helps in reducing the issues of
fraud. But that doesnt prove to be highly
effective. The result of which impacts the
advertiser. The advertisers are unable to measure
the customer experience because of the faulty
feedback system.
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Why Blockchain?
- The blockchain is the digital distributed ledger
technology. It works on the principle of
decentralization and peer-to-peer interaction.
This feature of blockchain can prove to be
beneficial for digital advertising companies by
limiting the role of intermediaries. Here are
different ways in which blockchain can help the
digital advertising companies
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Ad Fraud -
- Fraudulent activities are very prominent in the
digital advertising ecosystem. One of the most
common problems faced by many of the advertisers
is the bots instead of human clicking the ads. It
gives them unrealistic feedback and thus
affecting their performance in the market.
Moreover, online advertising makes use of
automated technology because of which it can be
unclear where the ads are placed resulting in
loss of money because of lack of monitoring.
Blockchain can be a probable solution to this.
Since the information and data in blockchain are
transparent and encrypted, it reduces the problem
of lack of transparency.
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Trust -
- Lack of trust is one of the most of the common
problem that we have in the business environment.
When it comes to digital advertising, then there
is involvement of a lot of intermediaries who
take away a significant chunk of commission.
Moreover, there is lack of transparency. With the
help of blockchain, we can create a transparent
system where the companies can easily track and
trace the data and information. This is not only
beneficial for the advertisers but at the same
time, it will prove to be useful for the customer
as they can get to know about the source of
information.
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- Blockchain also guarantees safety and security of
data. Since all the information is encrypted
cryptographically, it becomes impossible for
someone to barge into the system and hack the
data.
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Customer Experience -
- Enhancing consumer experience is the key to every
business including digital advertising. The
advertiser can get more information from
different sources. With the help of this
technology, the marketers can build a customer
profile by directly contacting the customer.
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Example -
- There are various moves in this direction, one of
them being the development of blockchain based
platforms which works on transparency. Veracity
a blockchain-based, video-on-demand platform aims
at improving transparency with the help of
proof-of view blockchain technology. The platform
will securely verify and record content
consumption. It will also have logs which are
publicly auditable and will have viewer
information for media buyers. However, the patent
for the same is still pending.
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- The crux of the matter is that blockchain can
prove to be useful for making digital advertising
more effective and efficient. Companies are
making use of blockchain to make the digital
advertising ecosystem transparent and secured.
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Blockchain Council Certifications
- You can check out our certifications, and kick
start your career in the Blockchain space today. - Certified Blockchain Expert
- Certified Blockchain Expertv2
- Certified Blockchain Developer
- Certified Smart Contract Developer
- Certified Solidity Developer
- Certified Ethereum Developer
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