In the rapidly changing digital world, a new technology has emerged as a big player – Blockchain technology. A digital, decentralized technology, Blockchain is making its presence felt in different sectors, including digital marketing. At aReputation, we bring you a comprehensive analysis of this latest technique and some of its merits. Take a look:
What is Blockchain?
Blockchain technology keeps a tab on transactions taking place on peer-to-peer networks. The continuously growing list of records is stored securely in numerous interconnected, decentralized systems. The lack of a centralized point makes Blockchain less vulnerable to outside threats.
Within the digital marketing domain, Blockchain is aiming at increasing transparency between consumers and customers since the information is being stored digitally, and cannot be deleted or tampered with. This enables companies in assessing the exact amount of funds utilized and their area of effect.
Blockchain’s impact on transparency
Earlier, advertisers knew even minor details about the use of ads by publishers, which led to high expenses for publishing ads, and ad fraud in some cases. Blockchain has made the process more transparent. Now advertisers can learn who is seeing their ads and know if it is marketed to the right audience or not.
Blockchain’s impact on digital marketing and data privacy
Blockchain can impact digital marketing in a number of ways. One of the most imminent changes is in the sharing of consumer’s data.
Privacy remains one of the most pressing issues in online activities. Companies store databases containing profiles for every potential customer they come across, based on searches made, sites visited, products purchased, among various other things. Leakage of data through hacked databases has become quite common these days. However, Blockchain technology can help prevent data theft.
With Blockchain technology, all the personal data of consumers remain safe. When a person uses an app or visits a site, the company can no longer access the data, and all the sensitive information remains with the consumer.
Blockchain technology enables users to have control over the data, determining how much of it to share. This also means that companies would now have to rely upon consumers to provide them with their data, instead of automatically collecting it through online activities.
Clearly, Blockchain is a very useful technology that is revolutionizing various industries, and it can also have a great positive impact on the digital marketing industry.