Blockchain was initially developed to serve as the underlying technology for bitcoin. It is a shared, immutable ledger that permanently records all transactions between two parties. The distributed nature of this database means it can never be erased or changed, so even if one party alters their copy of the information, the others will still have their original data intact.
Although created as an underlying technology for bitcoin, blockchain is no more limited to digital coins and cryptocurrency markets. It has penetrated its way into the other personal and business aspects. Due to this hype around the blockchain, the cryptocurrency prices and cryptocurrency values are soaring at an increased pace, allowing the traders to become wealthy.
Blockchain technology is now all set to revolutionize the marketing space. Here’s why it is indeed the future of digital marketing.
You Can Also Read: The Importance of a Digital Marketing Strategy For Small Businesses
Blockchain Is Transparent and Can Combat Fraud
Blockchain technology is based on an open-source ledger that transparently records all transactions. This means that you can see every transaction made, from the first Bitcoin purchase to the last batch of cookies sold on Amazon. The ledger is also public, meaning anyone can access it at any time—and with blockchain being decentralized (no one owns or controls it), there's no central point for hackers to target.
Blockchain Allows for Better Customer Feedback
In the old world of digital marketing, customer feedback was difficult to get, and you were often forced to wait for it. With blockchain technology, you can instantly request feedback from your customers, and all responses are recorded in a secure location. This means that you never have to worry about ensuring that the people who responded to your survey actually did so, or worse yet, having them lie about their experiences with your product or service (most likely because they don't want to hurt their feelings).
The best part is that this information will be available whenever needed, meaning no more lost data! And suppose you want even more detail on what exactly went wrong. In that case, blockchain also provides an easy way out by providing details on what exactly went wrong as well as how much time was wasted trying (i.e., pre-blockchain) versus after using this technology which allows us now explore other possibilities such as real-time marketing automation based on user behavior patterns rather than some canned email campaigns generated by marketers without any fundamental knowledge of users at all!
Blockchain Can Increase Ad Revenue
Blockchain can help improve ad revenue by allowing the advertisers to monitor which ad is displayed how many times to a unique consumer. If the same ad keeps repeating, it can impair the customer experience. With blockchain, advertisers can view records of which ad was shown to which consumer and at what time. Advertisers can keep rotating different ads for a better experience and more clicks based on the data.
Blockchain Allows Us to Be in Control of Personal Data
Blockchain technology allows for data to be stored and shared by a group of people without the need for one central entity. This is because data on the blockchain is distributed across thousands of computers worldwide. This makes it extremely difficult to hack or corrupt a blockchain network, as there are far too many nodes involved in maintaining them.
Because no single organization controls your personal information when using blockchain systems, you can rest assured that your transactions are secure and anonymous (if you want them to be). Furthermore, because blockchains can be transparent at any given time, anyone with access will know exactly what's happening within your system—whether that means who has permission to access certain information or if someone has made an error.
Blockchain Makes It Easier to Host Your Own Advertising
If you're a small business owner, you probably think your options for advertising are limited. You can run an ad on Facebook or Google, but that's all. Right? Not necessarily!
Blockchain makes it easier to host your own advertising through smart contracts—the same technology that allows blockchain transactions to happen without third parties such as banks or brokers. With this technology, you can create ads tailored to suit your needs and target specific audiences with just the right message at just the right price. And if you want to prevent bots from driving up prices by bidding on ads in bulk? Blockchain makes it easy for any business owner to set up their ad exchange platform using only their computer and internet connection!
Blockchain Eliminates Single Point of Failures by Being Distributed
In a blockchain, data is stored on a distributed ledger, and it cannot be modified or deleted. There's no single point of failure because the network is spread across many computers. For example, suppose you have a chain of blocks with one block representing your bank account and the next block representing your car ownership. In that case, all information about these assets will be stored in different parts of the chain, preventing any single point of failure where hackers could break into and steal your data.
There are also other benefits to being decentralized: it makes it harder for bad actors to hack into one system since they'd need to access every node across an entire network; there’s no central authority who can manipulate transactions; users own their data, and there’s less risk if something goes wrong since copies exist across so many nodes (each node keeps an identical copy).
Blockchain Can Be Very Cost Effective for Advertisers
As you may have guessed by now, blockchain is an excellent tool for advertisers because it can help them save money. The reason why these savings are possible is because of the elimination of intermediaries and expensive advertising platforms.
The elimination of intermediaries means that there’s no need for a trusted third party to verify ad clicks or impressions, which leads to cost savings in terms of fees paid to these parties (the web traffic monitoring company).
Similarly, advertising platforms with expensive services will also get removed from the equation. These all add up over time, so eliminating them saves money overall!
The blockchain will change the digital marketing space mainly because it can make processes run much faster, smoother and safer. The blockchain is a foundational technology that will impact digital marketing by creating new opportunities for marketers, increasing efficiency across the board and making it possible for users of all stripes (including non-crypto enthusiasts) to participate in digital ad campaigns.