When we think of the blockchain, most of us probably think of finance, cryptocurrencies, and digital ledgers. That makes sense because the blockchain is the tech that supports Bitcoin.
However, the blockchain has the power to disrupt and solve problems in other sectors — and one of the most promising and overlooked areas is definitely marketing and advertising.
DataBlockChain is a platform seeking to alter how entities and individuals market themselves. The platform democratizes data by making it readily available, less costly, and was dubbed by Forbes as “a fast-rising brand”.
Here’s a look at how the platform will merge big data, artificial intelligence, and blockchain technology to disrupt the advertising industry.
1. Empower Data Source Providers
DataBlockChain empowers data source providers to monetize their data and better capitalize on demand, allowing them to access a large global marketplace that before was never possible.
Just like eBay offers a marketplace for vendors of physical products, DataBlockChain offers growth potential for data source providers of all sizes by reducing entry barriers for those companies within the Big Data industry.
2. Facilitate Trust and Confidence
DataBlockChain offers data providers full transparency, traceability and auditability — overcoming many of the hurdles data providers currently face today.
The platform uses a vetting and grading system for data to build confidence between the end user and data sources. This streamlines the process end-to-end, facilitating trust and confidence for all users.
3. Data Verification Through Smart Contracts
The thing with online advertising is that it’s almost impossible to know if the stats are accurate. When we count “clicks” to our site or “followers” on Instagram, are we counting customers, people, or bots?
For instance, if you were to consider counting “bots” or “hired clickers”, companies could very well be spending more on ads than they should be. That’s because bots and hired clickers do not translate to revenue or results.
In truth, it’s incredibly hard to gauge the accuracy of online ads based on the data that’s currently available. All data on the DataBlockChain is encrypted, granting companies an opportunity to “weed out” fake data and allowing them to reimagine the way they advertise through data verification and smart contracts.
4. The Democratization of Big Data and Advertising
It’s no secret that most advertising costs end up with the middlemen – think Facebook, Google, Snap Inc. or, if you’re advertising in South Korea, Naver.
Democratizing data reduces costs, making it fast, simple and transparent for companies to acquire or sell data. The DataBlockChain could potentially shake up the whole advertising market because of the inherent need for accurate data.
It’s only through the DataBlockChain that data becomes more readily available, easier to access and less expensive than the current methods of data gathering and vetting. This can only be achieved through blockchain technology utilizing smart contracts written in solidity for transactions and payments.
5. Data Trades Worldwide
Ultimately, the DataBlockChain acts as a medium between businesses, individuals, and data-source traders to make worldwide data trades possible.
According to CareerBright, simplifying and aggregating world data transactions into a single point-of-sale could result in an “Amazon-like” marketplace where economies of scale and data aggregation facilitate a smoother data trade process.
The company has already amassed a lot of enterprise interest and adoption, counting big brands such as TransUnion, Equifax, Neustar, iHeart Radio and Comcast as customers. DataBlockChain is growing at a fast rate and could very well become an “Amazon-like” marketplace for data trades worldwide.