Blockchain is revolutionizing the advertising industry
The Internet has dramatically changed the advertising industry. Today, the industry which is largely dominated by a few social media and web search engine conglomerates collect personal data from the user and use such data for targeted ads. Customer trust in ads is deteriorated due to the difficulties of knowing what is authentic and what is not. Also, ads have become very inconvenient to the point of blocking them “ad-blocker”. As a result, there is a steady shift from ad-based purchase decisions to reference-based purchase decisions.
People communicate with each other far more than any advertising campaign can. In order to ascertain whether something is worth buying, one wants information from a trusted source – the social community/friends, not brands ads (P2P advert). The community is now the most significant player in the advertising industry. However, there is no clear mechanism of incentivizing or rewarding their loyalty. For the community to get rewarded for their great advert job, there is a need for P2P and distributed network (DLT/Blockchain) rather than the current centralized and exclusively owned system.
Blokkad is proud to be part of this journey helping organisations to use blockchain to solve problems created by the weaknesses of internet advertising.