Blockchain is one such technology which is already disrupting numerous industries as it enables users across the globe to transact in a secure and transparent environment in a decentralized setup without the need for a middleman. Some of the industries which have embraced blockchain technology are insurance, car sales, voting, real estate, sports management, manufacturing, transportation, e-commerce, healthcare, etc.
It is indisputable that blockchain is closely associated with cryptocurrencies. Blockchain technology is the underlying concept which defines the very existence and functioning of Bitcoin and other cryptocurrencies. The disruptive nature of the blockchain is undoubtedly changing the face of search engine and digital marketing which makes it imperative to catch up on the capabilities of this technology and understand how it is catching up with the industry, to remain competitive.
Before we delve deeper into how blockchain impacts search engine marketing and digital marketing, let us understand the basics of a blockchain.
So, What Is A Blockchain?
A blockchain is a distributed ledger of time-stamped transactions stored over a peer-to-peer network. It is a movement which is against the centralization and the control of fiat money. While central banks are in control of the ledger in case of fiat money, blockchain technology allows users to maintain their copy of the ledger.
One of the most significant features of blockchain is that every copy is synchronized even though the blockchain is not linked to a common processor. Each machine within the network has a copy of the data which is updated and shared. Synchronizing all copies of the ledger is possible through consensus algorithms, which is a set of rules. This ensures that the computers in the network are in agreement at all times.
How Blockchain Impacts The World Of Search Marketing?
Fake likes! Fake traffic! Fake views! Fake followers! This fake factor has kidnapped the online world to a point where it has nearly paralyzed the digital ad world. Such fraudulent practices had many business heavyweights second guessing considering the amount of finances they were shelling out to reach prospective clients. Blockchain is the perfect answer to any digital frauds. This is possible thanks to its shared database, which ensures that the stakeholders are aware of every step of the ad process, which takes place. This brings in ultimate transparency to the digital and supply chain.
Blockchain Helps Search Marketing In The Following Ways:
1. Builds Trust With Transparency
A significant issue faced by many companies is consumer trust. People are skeptical about everything and blockchain helps companies gain the trust of consumers through transparency. Everything is documented and verified in a blockchain. This transparency allows consumers to discover if a company is trustworthy about their claims.
2. Aids Direct Dealing With Advertisers And Publishers
Major industry players who connect advertisers with the publishers by way of their display ad networks, play the role of intermediaries in bringing advertisers and publishers together on the same page. Let us consider a question here. What if the advertisers and publishers know each other and wish to deal with each other directly without involving a middleman? This is where blockchain comes in. Apart from connecting advertisers with publishers, it also makes sure that the users are genuine and that the publishing company charges only for genuine clicks.
3. Makes Ads Trustworthy
Though there are numerous reasons for consumers to hate advertisements, the most common is because they think that advertising technology is untrustworthy. Not many people trust digital advertisements, even if the contents provided on it are interesting. Blockchain secures the ad supply chain and makes the marketing process trustworthy to customers everywhere. Blockchain connects buyers, ad tech vendors, and publishers. In the future, website owners and ad vendors will be able to operate with one another securely while making marketing arrangements.
4. Offers Consumers Control Over Their information
It is vital to balance advertising with customer identity concerns. There are already a lot of services such as MetaMask, Keybase, and uPort, which offer users full control over their identity and transaction history. This means that marketers will need to gain the customer’s permission. By using blockchain, consumers can charge for their contact information and attention. In the future, such a situation may arise where the marketer would be required to pay the user to gain access to their advertising material. This lets consumers have power over their information and also consistently challenges marketers to prove the value of their content.
According to Gartner, the leading market research and advisory company, blockchain technology has already entered a period of disillusionment surpassing the peak of the hype cycle. This brings about realism to the technology of blockchain. Business leaders and blockchain enthusiasts are of the general view that passing the period of inflated expectation is a major step in the advancement of blockchain through the hype cycle.
People now realize the impact of blockchain technology in every facet of life and researchers and blockchain experts believe that this may be the tip of the iceberg. The overall outlook for blockchain technology looks bright and the realms of possibilities are endless. Currently, the extensive and profound changes of blockchain technology have just begun. It is certain that a few years from now, blockchain will completely change the face of the earth and the way we live and function.