Industries That Blockchain Will Radically Transform Digital Advertising

Industries That Blockchain Will Radically Transform Digital Advertising

The term “cryptocurrency” is a misnomer. A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Digital Advertising

Digital advertising is a massive revenue-generating stream and it will continue to grow in the years to come. It is the primary form of advertising in an age where people spend more time on their phones and laptops than they do in front of the television or reading a newspaper.

As has always been the case with advertising, the power to reach an audience and influence them has always been with those with the largest amount of money. This results in numerous problems, not the least of which is centralized advertising power. Users are bombarded with irrelevant and frequent advertisements. Data is collected and exploited to further target individuals. Lastly, little if any revenue goes to the individuals whose online content are used as advertising platforms.

Basic Attention Token is aiming to make the system more fair for content creators. The BAT token hopes to change that by letting users pay their content creators on a subscription basis, as well as giving them the option of receiving advertisements.

Chuck Reynolds


Marketing Dept
Contributor

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