online advertising

Alternatives offered by Blockchain Technology for Outdated online advertising

Some years ago, television was the only king of advertising and the internet on the other hand had to take the dust together with radio Ads and billboards. However, the situation has changed over the years. These days, online advertising has overshadowed the television for the very first time in history with above $200 billion spent on advertisements campaigns via the internet.

It is very obvious now that the internet can also provide advertisers with a unique and an incomparably larger range of facilities than television could possibly offer. Television doesn’t have the capability of letting the advertisers address a particular audience and the coverage of TV adverts has declined as most people now prefer using the internet for their online advertising. However, television still has one important benefit over the online advertising platform when it concerns advertising: it doesn’t pose so many problems like the internet does which is related to advertisement campaigns.

Plaques facing online advertising

There are many issues which plague the online advertising platform that the old fashioned means of advertising couldn’t even imagine. They include fraud and often lack of user permission to see ads, and privacy concerns. In general, the model which is widely accepted in the existing online advertisement industry has disappointed both the audience and advertisers.

Advertisers are usually incapable of ensuring their campaign really works

Various platforms tend to make use of several metrics for its operation, such as the number of sessions, the number of clicks, number of invalid clicks, etc. This means that while a company may incur certain expenses on marketing, it doesn’t have a real way of checking out if its investment has actually worked or not.

Another advertiser’s nightmare is Ad fraud, which normally means that advertisers will need to pay for what has not happened yet. Methods used by fraudulent people to scam advertisers of their funds include bots, exploiting backdoors, and driving up the numbers.

Blockchain as an alternative to online

All in all, the general world of online advertising, irrespective of it being very young, is plagued by various shortcomings that often reveal themselves in very old industries. Examples of such shortcomings include inefficiency, lack of any viable second choices and fraud. This, however, can change with the introduction of blockchain technology.

The architecture which is used in blockchain powered system means that all transactions among all parties that are involved in the online advertising are plain in sight and any fraud attempt is detected at once. However, as blockchain is associated with cryptocurrencies and is younger than online advertising, it brings about legitimate concerns and worries among the traditional players as it is something that is insufficiently tested.

Attempts on the blockchain view

One of the first notice attempts in this view was Brave, a browser which rewards users with a special BAT tokens as they watch an advert. Users can then exchange these tokens for real and genuine money.

Another notable is AdEx, a powered Ad network blockchain platform which employs blockchain to create transparency to the online advertising infrastructure and also tackle fraud.  The platform currently operates only in Beta.

Lastly is AdShares, a project which offers a major marketplace for advertising for the buying and selling of ads in a transparent manner.

The marketplace is not centralized, giving AdShares a very important advantage above its other competitors.

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