How will Blockchain technology affect the digital marketing in 2018?
, Founder at Agent Beta answers this question on Quora:
Because blockchain is a decentralized system, data stored this way has a high level of security.
This technology is going to disrupt and overhaul the online advertising industry because it will negate the need for middle men.
Currently, businesses run Google or Facebook ads, and both platforms make money off these ads.
But blockchain companies, like BitClave, are focusing on search-data privacy, giving users full control over their data.
BitClave’s search engine uses Ethereum blockchain technology and eliminates the need for ad service people, creating a direct connection between consumers and businesses.
This is the hallmark of blockchain technology: It eliminates the need for middle men in all transactions.
When users perform a search, they can select the amount of data they want to be released to advertisers.
Then, unlike what happens with other digital marketing services, users can be compensated for their data.
So, instead of an intermediary selling your data to advertisers, you’re selling it to them directly — yourself.
Smart contracts assist in helping you exchange money, shares or anything of value in a conflict-free and transparent manner and letting you avoid additional players, like lawyers.
These computer programmed contracts operate on blockchain technology that facilitates, verifies and executes the terms of an irrevocable contract that can only be replaced by a brand new contract.
These contracts will make B2B cross-promotional marketing much more efficient, especially in the age of influencers and bloggers, who use platforms such as Instagram and YouTube to cultivate personal brands.
Digital marketing with this group of influencers can be fruitful but has its challenges since there is no third party regulating the terms of the agreement and each individual determines his or her own costs.
Companies can use blockchain to show consumers whom they are selling their data to.
And, since this information cannot be changed or copied, companies that use this technology to store their data can rest assured that their information will not be tampered with.