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The digital advertising industry is not only one of the largest markets in the world but one of the most progressive marketing technologies. With great advertising networks like Google, Amazon, and Facebook, digital advertising has never been more powerful.
However, as with technologies of old, evolution and malleability are strong properties of the digital advertising technology which now, more than ever could define the future of the industry.
You see, with emerging technologies, online advertisers have had to rely on large volumes of data to make proper decisions on what’s best for their businesses. As such, they are able to connect with their customers in more efficient ways thus cementing their place in the global market.
However, as far as emerging technologies go, it would seem that the best innovations that would shape the digital world trooping in. But there is that technology that has a lot to say in global industries and the online ad industry might just have a real shot at being the largest globally-Blockchain.
Google Advertising Economy
Talks about the damage inflicted on much of the world’s economy by large technology organizations have been at the forefront of ad evolution debates. To some extent, the malleability of online advertising tech is as much its weakness as it is its strength.
True to form, Google has built its digital ad network on its exclusive access to relevant data. And its ad services are scaling up with its centralized cloud infrastructure an integral economy part.
Google’s first step towards its advertising economy was by selling slots based on cost per thousands that viewed the advert. Introducing its automated form of advertising, AdWords, in 2001, paved way for its advancement to the top spot in a digital advertisement.
However, if there is one element world is coming to pick out as missing in the large tech companies- trust. Leading social media network, Facebook is still reeling from the effect of its last privacy scandal. This scandal has cast a shadow of doubt over centralized cloud-based networks.
With Google relating its share of privacy saga, it is quite clear that centralizing cloud networks as they are now might not be equipped to provide incentives to serve the next generation of web services especially with. Thus, the proficiency of Blockchain as a liable solution is fast becoming a hot topic in the advertising scene.
How Blockchain Could Shape Google’s Advertising?
Most ad customers and businessmen frequently require anonymity for their transactions. Sometimes they require to enforce contracts with people they cannot see or do not trust via online platforms. The blockchain is majorly one technology that could address all these without issues.
Blockchain technology shows as an immutable digital ledger programme to record and audit anything of value. This means it does not just restrict to financial records. What’s more, this technology introduces the concept of decentralization which means middlemen in transactions are obviated.
To face one of the major problems in digital advertising is that too much authority is given to specific players. And the low number of key players means that this centralization is exactly one issue faced by most ad customers.
Plus, it is becoming clear that fraud is fast becoming a household name in digital advertising. Ad frauds manage to sever the delicate degree of trusts between marketers and their customers and as such, cost marketers money.
All About Blockchain
Blockchain offers a level of transparency and immutability that rivals no other. Unlike Google where data entries are ultimately stored at their data centers, Blockchain stores data in several blocks. As such, records are public, verifiable and incorruptible.
Hence, Blockchain on Google network means that the network will be practically impenetrable. Such, advertisers grab critical visibility to their transactions and the opportunity to connect with their users directly.
According to Google’s statistics, about 56% of ads are by its digital ad platform. Customers and advertisers do not view them for which billing accomplishes. With the blockchain technology, advertisers get only charges for only genuine views of their sites. Also, the customers don’t have any worries about frauds.
Thus, with a blockchain model on Google, customer profiles gets steadily design from data. This data is willingly shared and relevance, targeting as well as revenue conversions are improved.
It is obvious that integrating blockchain to Google’s network at any level might curtail its exclusive right to relevant data. Experts believe that coming to terms with the reciprocity of this business model might, in the long run, be the best thing that could happen to Google’s advertising.
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