Enhancing marketing capabilities using blockchain

Abstract

Blockchain technology aims to change how almost every company is especially marketing companies handle the data. After crashing on the scene as the driver behind Bit coin in 2009, it has become relevant to several sectors beyond financial services, including industrial manufacturing, marketing, health care, and logistics. The common thread between these industries is that they all contain complex and large numbers of interconnected entities, transactions, and vast data quantities. The digital market also shares those features. Combined with the industry's accountability concerns, these features make ads a prime candidate for Blockchain solutions. Blockchain will help overcome one of the greatest issues facing the marketing industry of various practices. Publishers, advertisers, and ad-tech companies are investigating Blockchain to improve transparency around marketing practices, with the ultimate aim of growing fraud. According to projections by Juniper Research, ad fraud is estimated to cost the industry $44bn by 2022. Blockchain can monitor distributed marketing processes. Blockchain can inject transparency into the marketing industry for ads. Blockchain can resolve many obstacles in the marketing industry, and in this research, we will discuss various ways in which the industry should address these challenges using Blockchain. Finally, we will discuss how Blockchain based marketing offers space to marketers by giving them proper insights into their actions and market conditions.