We all know how big the world of blockchain is nowadays – and how massive is the potential of the underlying technology behind cryptocurrencies. However, one of the most surprising and latest use cases for blockchain has been advertising – and the advertising industry in general.
Currently, a big number of digital marketers are using blockchain as an aide for a variety of tasks. One of these is to see how many of their ads are actually being viewed by real people.
The truth is, there are a couple of reasons why blockchain attracts marketers. For starters, it is a technology that may increase the speed of transactions, giving potential to digital ad transactions and their fulfillment in real time.
For other marketers, blockchain is a great way to prove work and a great verification tool which can ensure proper billing and precise data about the number of impressions that were delivered.
Aside from this, blockchain has the factor of transparency – which can help advertisers to save more money on campaigns that might only see ads being viewed by computer bots and not real people.
The middlemen in the advertising industry also eat up a lot of expenditures. According to the marketing intelligence firm Warc, 40 cents out of every single dollar from”programmatic ads” actually get to the publisher.
This is why many advertising companies are starting to shift their mindset towards blockchain. So far, big brands like Nestle, AT&T, InBev, and Aneheuser-Busch have already started to use it with their advertising endeavors. Nestle, for example, has started to test a product that pays advertising vendors who fulfill their job commitments in real time.
In the end, there are drawbacks of the technology too – best seen now through the implementation costs, number of transactions etc. Still, it is definitely a technology that can restore the public trust and confidence – which are crucial in an industry like advertising.
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