Technology
How is the Block-chain is Changing the world of Advertisement
While ads have been around for as long as trade, completely new problems emerge in today's digital era which are taking the experience to marketers, publishers and the public alike.
Costs have risen, data management is becoming a problem and ad fraud is all too common. Today, some groundbreaking blockchain apps aim to fix all this and simplify, quicker, safer and more efficient ads around.
Online advertising 's emerging obstacles
Profitability is one of the greatest problems for advertisers and publishers today. At one time, the publisher received approximately $0.85 of each dollar spent on a publicity campaign.
But more and more intermediaries have taken a cut over time. Modern ads are frequently purchased and sold on exchanges and these companies always skip away with advertising agencies, sales companies or someone who participates in a campaign.
The additional hands and complexity led to increased waste and only about $0.35 was made available by the end of the process to publishers.
Furthermore, it takes months after the contract has been concluded to make publicity creators pay because there are so many moving parts.
Fraud is another major problem in the industry. Advertising contracts may be falsified, fine print filled, or one or more parties actually refuse to meet. This causes huge drainage and a huge amount of waste of money for the whole industry.
"We have to make up USD 51 million each day or USD 19 billion to end 2018," according to the IBM report. "It would be clear that advertisers, publishers and advertisers could save a substantial sum of capital and time if contracts could simply be trustworthy.
There are also problems on the consumer side. Google and other major corporations track ad data and even share them in the industry are no secret. It is not even secret. Daily people also do not know what details they will see or from their experiences with advertisements.
And while ordinary people produce this resource (data), which can then be sold for profit, neither is returned to consumer money. This has prompted others to believe that the procedure is too customer-friendly.
All of this resulted in a less than ideal digital advertisement experience for all. Fortunately, people work hard to solve these problems, and use blockchain to do this.
How companies try to change the countryside?
Various methods have started to emerge that aim to solve these modern advertising problems. For example, IBM is working with several major publicity donors and is promoting its IBM Blockchain platform for a solution that lowers costs and improves transparency.
While it's great for big names to be involved, there seems to be no talk of how this would enable customers and decrease the cost of these large corporations. It is fair to say that if companies are able to save money, then the solution can be transferred to the customer.
The Brave project and its Simple Attention token (BAT) are one of the most popular attempts to solve all of the above problems. The team's commitment to balance users, advertisers and publishers' needs by releasing a proprietary browser – the Brave browser.
Personal anonymity remains, and the people who actually watch the ads receive a reduction in revenue. There are also other related ventures but little progress or acceptance has occurred and attempts to resolve these modern advertising obstacles have not yet been fulfilled.
The Smart Advertisement Transaction Token (SaTT) developed by Atayen is one of the projects to provide the best solutions and to do so with minimum complications to all the ecosystem levels.
SaTT's ERC-20 token on Ethereum allows brands to create their own ad campaigns by interacting with the official decentralized app, in exchange for social media engagement.
Influencers and other members of the group will automatically create posts and pay according to various performance indicator including, retweet or page views.
Brands have their own special conditions, of course, but smart contracts guarantee that these deals can not be broken after they have been concluded.
Moreover, as the campaign is running and no midservants are involved in the cut, only a third-party application called the "Oracle" which triggers payment on the basis of the provided data can be made in almost real time.
The way forward
Atayen has also collaborated with important social networks like Facebook , Instagram , Twitter and YouTube to make its SaTT service available. The software has also been built so that everyone can build custom Oracles and feed data into their intelligent contracts.
So we might soon see additional convergence in social media channels such as TikTok, LinkedIn — something literally. I hope that this new model will be adopted with more compatibility with the networks that people are already using to push their campaigns.
It remains to be seen whether one of the above-mentioned systems will become the first model for the future of advertising.
New projects are likely to emerge to enhance the landscape and all these networks might work together to improve the system for everyone. It is too early to call it, but it sounds like people 's ideas are being pressured.
