Online advertising has a challenge. Users don’t want to see ads and they don’t want some giant company to see what they’re doing. Facebook and Google start to recognise the problem, but their models do not offer efficient solutions. A real solution lies in decentralized systems like blockchains.
The current marketing depends on knowing what a user has done in the past. Facebook, Google, Amazon track what we have done on the Web and try to predict what we want to do in the future based on the data they’ve collected about us. The result is that once you buy a sofa, get ready to be pumped with ads of sofas and couches for weeks and months to come.
Decentralized marketing is based on what someone is doing at that particular moment. Instead of giving rewards in the form of discounts, offers, and content to people in return for their data, a blockchain is in the position to reward participation now.
Never Stop Marketinghas compiled a long list of companies now active in blockchain-based marketing ventures. They includeMinds, a Pinterest-like social media platform that pays cryptocurrency for contributing to the community, andKarma which works in a similar way on an Instagram-like platform.BravoCoin, is like a blockchain-powered Yelp or TripAdvisor, whilePresearchis a search engine that offers to pay people who search.
What each of these companies does is reward users for using their product, instead of for giving up their data.
They can also keep track of content, a benefit for content creators who are worried about the Internet’s habit of stealing and sharing intellectual property.
None of these companies is big yet, though the same was true once of Google and Amazon. But the technology that underpins this new form of marketing is already proving its worth and could soon change the way brands promote themselves.
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