Blockchain – World-Changing Technology in AdvertisingJanuary 2, 2019
Cities that will function entirely on the blockchain is a real happening. And, the Advertising niche is crypto positive.
Frauds in advertising can be efficiently avoided using the blockchain technology. Companies who are paying are doing so to engage their prospective customers at least for a few minutes. They pay for the engaged minutes; however, there are tales of false engagements in the advertising industry.
False engagement is projected to advertisers by advertising companies. Much needed transparency is lacking in the advertising industry. The audience were finding companies with services and products using keywords. With the passing of time and improved knowledge about the online world, consumers were becoming very calculative.
Keyword hits are being manipulated fraudulently. Companies are willing to pay for clicks, but they are looking to earn legitimate clicks. At present, transparency is not sufficient in this industry. Advertisers do not have a clear idea as to what is happening on their websites. They are being forced to believe what they are being told.
There are several ambitious projects where they are looking to cut down on the middlemen in the advertising space; however, they are not able to do it. A system that puts the control directly into the hands of the advertiser with a tool for tracking the authenticity is not in place.
The search giant Google is making use of several filters and strategic artificial intelligence and machine learning models to identify advertising frauds. They are collaborating with advertising agencies, advertising tech companies, and research institutions to identify advertising frauds to take action on fraudsters using law enforcement eventually.
Insufficient standards in reporting have led to trust and transparency issues in the industry according to analytics pioneers.
Misconstrued information provided to advertisers leave the companies with no other option than to accept the numbers that are given to them. The relationship between the advertiser and the advertising company should be streamlined.
There is a lot of energy involved in the true interest of parties involved. Blockchain can restructure the advertising space; however, this is one area where blockchain alone will not be able to do it. Advertising is about communicating to the user when the user is educated via the communication they buy. If they are not educated or informed at all, it is not for the good of the advertiser. It is only when the true climate is understood advertisers will have the confidence to invest in further units of advertisements. There is potential with blockchain to improve advertising, but it might not be a standalone achievement.