In his latest post for Relevance, Chad Pollitt predicted that Blockchain would have a significant impact on paid media going into 2018 and by the way the cryptocurrency associated system is developing, it looks like his predictions might come to fruition. The marketing industry is developing fast and blockchain has the potential to be a major player in the way marketers share and develop ad content.
What is Blockchain Anyway?
In a nutshell, blockchain is the backbone of bitcoin, the world’s first decentralized digital currency, and other cryptocurrencies. It is the world’s leading peer-to-peer platform for digital assets such as bitcoin and other digital currencies, and it allows people to store and trade their bitcoin safely on a chain like ledger without a third party intermediary. CNBC’s Tom Chitty has a great video explaining it in more detail.
So what does this Mean for Digital Marketers?
Typically, blockchain is associated with cryptocurrency but on September 28th, marketing company, Never Stop Marketing launched the world’s first Blockchain Marketing Technology Landscape which promises to provide blockchain based solutions to corporations looking to disrupt and reinvent their current systems. For blockchain startups, this technology has a ton of potential. It will accelerate market awareness, perception and growth with less risk and it can possibly eliminate or at least curb massive ad fraud. According to an article on SingleGrain.com
“The middleman has become part of the process (for the time being) in the world of digital advertising. However, the companies investing in advertising are only getting half the value, due to the intermediaries involved. Blockchain can solve this by creating much better value for ad campaigns.” According to the SingleGrain article, this landscape can also build trust, improve public accountability, and balance advertising with consumer identity concerns.
The long term implications of blockchain have yet to be determined and it’s unlikely that we’ll be seeing blockchain used by the masses as early as next year but whether or not Blockchain succeeds or fails, it’s potential is enormous and marketers will be waiting with bated breath to see how it unfolds in 2018 and beyond.
For more information about blockchain visit the official site here: https://www.blockchain.com/
To learn more about the world’s first Blockchain Marketing Technology Landscape check out Never Stop Marketing here: https://www.neverstopmarketing.com/