While technology has made more devices “smart”, and we take your phone with all sorts of sensors, this has not been systematically applied to this ad main problem – complicity. blockchain, however, will make a much smarter ads.
Traditional advertising – think of posters at bus stops and TV commercials – easy to overlook and difficult to measure its effectiveness. Even online advertising have problems measuring engagement. But with this blockchain, advertisers will be able to enter data on our devices, automatically pulls together multiple sources of information, and even offered a reward to the consumer.
What blockchain again?
Think blockchain as a kind of https://cryptolivereview.blogspot.com/2020/06/the%20cry.html public spreadsheet. This spreadsheet is saved simultaneously on a bunch of different computers and encrypted.
When someone transferring a Bitcoin (or whatever you are trading in the blockchain) transaction is verified by all computers, encrypted and added to the spreadsheet, where everyone can see. Encryption and transparency are what make the system safe.
Bitcoin and other cryptocurrencies, such as Ripple XRP and Ether, sitting on the blockchain. They can be used as currency, transferred between people as a normal money. Or they can be used as a kind of token, transfer the record to indicate when something has been exchanged.
A computer program known as a smart contract has evolved from this system. It can perform certain actions when the conditions set out in blockchain are met – such as automatically pay farmers at harvest time sent. But also a smart contract could have big implications for advertising.
Ads will be more complex
Ads in age blockchains and smart contract would be something more like an ecosystem. And information will flow and the value captured in various directions. Using smart contracts, many different entities and the data stream will be brought together.
Let us imagine Jane saw an ad for a pair of shoes on his smartphone. advertiser asks, in exchange for Bitcoin, he revealed his identity to turn on the camera and take a selfie. He should also allow advertisers to access the SIM and verify the telephone company that did Jane who owns the phone. Advertisers also want to know where Jane is located using the Google Maps app on your phone.
Individually, none of these new measures. What will be the new has smart contract to tie everything together.
At the initiation of this advertising effort, the parties involved in the contract smart Jane, advertisers, the phone company and Google. A gift that has been set (in the form of Bitcoin) promised by the advertiser will be released to Jane only once all parties fulfill their part of the contract. Jane should take selfie and send it to the advertiser, the telephone company should confirm with the advertiser that Jane did have a phone that is used to take a selfie and Google had to release the location of Jane to the advertiser.
Consumers like Jane will now be empowered to choose whether they want to give up their privacy in exchange for something. Jane could choose to block Google Maps from revealing his location, for example.
Advertisers will know exactly how consumers interact with their ads. With decisive action to Jane to do, like taking a selfie after watching the ad, the advertiser will address the crucial issue is not able to verify whether people really pay attention.
They will also know whether the consumer has adhered to any part of the agreement. If Jane does not allow Google Maps to reveal his location, the advertiser will realize this and be able to release just a few of his prize. This is a method that is efficient and cost-effective piecing together customer profile.
Finally, blockchain will allow advertisers to capture the value they could not before