Can Blockchain Change the Whole Advertising Industry?

Can Blockchain Change the Whole Advertising Industry?

Once there was a time, where advertising was very profitable and publishers were the gainers. But over the recent time, advertisers and publishers at stake because of their profitability. That can be a reason as middleman is taking share of the money. Exchanges are working the same way as ad agencies as a result it has descended upon as a competition that is keeping the profitability issue at stake. Stepping in of exchanges into this space has led to increased waste.

Fraudulence is another issue in the advertising industry as advertising contracts is prone to be falsified riddled leading to a massive drain on the whole industry.

Big technology companies like Google are tracking ad data and share it within the industry causing regular citizens hard to understand what information is being recorded from their interactions with advertisements. And ultimately no money is going back to consumers leading to dissatisfaction.

Companies with attempts to change the landscape

A number of companies are coming up with several new approaches to resolve the concurrent issues with advertising. Take an example of IBM which is pushing its own blockchain product as a solution to reduce costs and increase transparency. These companies are trying to cut costs to help the consumer. It is because consumer will get money if businesses can save money.

By fulfilling all these issues like individual anonymity, interest of both advertisers and publishers, saving revenues for consumer, Brave project with its Basic Attention Token (BAT) can be a better solution. The project is coming through several hurdles but it may have a bright future with high adoption.

Smart Advertising Transaction Token (SaTT) created by Atayen is also trying to come up with the best solutions to all levels of ecosystem. This ERC-20 token on Ethereum where brands can make their own ad campaigns through interaction with the official decentralized application that offer SaTT rewards in exchange for engagement on social media. There is no middleman here to take a cut.

The Future

Atayen created a developer program that allows custom Oracles and feed data to their smart contracts. He made partnership with all major social media platforms to make its SaTT service functional. It is expected that increased adoption of this new model will soon be seen. New projects maybe will come to augment the landscape. Maybe integration of all these networks could work to make the system better for everybody.

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