The Blockchain is what’s called a “decentralized distributed ledger” which might seem too technical to fully grasp but it’s actually a simple concept. It is an advanced technology that offers increased security reassurance by not needing a central institution to store records. Blockchain keeps the record of the transactions that take place among the peer-to-peer network and these records are stored securely in numerous decentralized systems that are interconnected, hence it is less vulnerable. The speed, safety, and cost-effective nature of the blockchain are what attract more and more people.
Now it is also growing in the digital marketing industry, adding a new meaning to the relationship between consumers and businesses. The information is stored digitally that can’t be tampered or deleted. With the blockchain, the entire advertising system is evolving. It looks like in the approaching years we would see the real traction for the use of blockchain in marketing.
- Elevate Transparency- Previously, advertisers would know only a few details about the use of ads by publishers, which led to high expenses for publishing ads also in some cases ad fraud. But Blockchain makes the process more transparent, this is what every advertiser and marketer aims for in a campaign. The digital ledger of Blockchain lets consumers get a transparent view of every product and service, from manufacturer to seller.
- Protect Personal Data- Now consumers have become more concerned about online hacking and leakage of personal data. Companies have profiles for every customer based on visited sites, searches made, products purchased, and several other things. Privacy is one of the most serious issues in online activities. Blockchain in online marketing is focused on empowering consumers to own, verify, and monetise their personal data in a compliant manner.
- No Intermediaries- Blockchain affects the digital marketing industry greatly by eliminating the middleman or intermediary such as social media sites of Google. This adds more value to the ad campaigns of the companies. The dependency on the middlemen is for the transactions and launch of ad campaigns but Blockchain eliminates the need for intermediaries when users sign a contract related to advertising.
- Validating Pay- Money is the facilitator and the most volatile part of a marketer’s job. Blockchain could help send and receive global payments securely, quickly, and at low-cost.
- Smart Contracts- In Digital Marketing, marketers benefit from this blockchain application in many ways. Marketers could outline a smart contract breaking down the terms of an agreement between your company and a publisher. Smart contracts are also used to purchase license rights from content creators.
Marketing needs a facelift. With its enormous potential in these areas, blockchain technology will revolutionize the way we convey, consume, and understand marketing campaigns. But, these are just a couple of possible avenues for the blockchain to take.
Where the blockchain winds up is a mystery. But, with the fast progress, it’s made so far, we can go anywhere.
Frequently Asked Questions
How do I choose a trustworthy app development company?Here are a few things to remember to choose a reliable mobile app development partner:
- Choose a partner that cares about its clients.
- Never compromise on technology experience and domain expertise.
- Check out your development partners’ portfolios, customer testimonials, and references.
- Observe how they approach communication and how much they pay attention to your vision.
- Ask the right questions to help you choose easily.
Why is India preferred for app development outsourcing worldwide?Here are a few reasons why India is one of the preferred outsourcing destinations:
- The average outsourcing charges in India are $18 – $40, which is way more affordable than in developed countries like the USA, $38 – $63.
- India has a large pool of native-English speakers who’re highly proficient in their work.
- With an Indian outsourcing partner, you can access 24×7 support and specialized IT talent.
How much time does it take to develop an app?Depending on the complexity of a mobile app, it can take several weeks to several months to develop it. An app like Uber takes around 1200 hours to develop. On the other hand, a dating app like Tinder can be developed in 1000 hours.
Freelancers vs. app development company – which one is better?Pricing-wise, freelancers appear to be more affordable. However, they offer no accountability for your mobile app. You can’t hold them accountable if the app doesn’t turn out to be as expected. On the other hand, an app development agency takes complete responsibility for your mobile app. Hence, an app development agency is better than a freelancer.
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