Many of us spend hours per day online, perhaps as much as half our day on average.
The thing is, while the internet is packed with information that can be entertaining, educational, and powerful for learning and business, it’s also very ad ridden.
The sheer number of advertisements that we are shown are often based on our data, can be daunting and overwhelming to the end user.
The end result? Endless amounts of ads, and our data being exploited and unrewarded.
Millions of people block ads because they assume they won’t like them
More 200 million people have come to the conclusion that the ads they will be shown will not be beneficial or of interest to them, as there are now around 200 million people who use the software AdBlock worldwide according to Business Insider.
Perhaps instead of using a blocking tool, a different approach could be taken to online advertising to make it more relevant, interesting, and mutually beneficial?
Perhaps this was acceptable in the past, but today, with the number of interactions we all have, whether through our laptops, our phones, or any number of ‘internet of things’ devices, it seems fair that the day has come when the consumers deserve a better experience.
And, a piece of the pie, when it comes to the advertising revenue that is generated.
That, by the way, is close to 90 Billion dollars a year!
Do you know they know all that about you?
Most people don’t realize just how much data is collected about them when they are using their laptop and smartphones.
For example, Google knows your age and gender, even if you’ve never told them. They are able to make comprehensive profiles based on your search patterns, and if you use Gmail, your content in your emails.
Your phone also records and knows where you go, how often, and how fast you go there. All of this data, along with any other search terms you may use (or speak to apps like Siri) are used to compile a comprehensive profile about you, and what you might be interested in buying.
The personal data that is driving much of that advertising is information about each of us that we, as users, generate. Such as our age, gender, residence, and mainly our interests. As you browse the web and interact in forums, and social media, you are sharing data about who you are. This data is then used to target advertisements to you.
But, this begs the questions, if it’s your data, shouldn’t you get a piece of the revenue generated by using that data to sell advertisements?
Kind Ads, a new blockchain-based startup believe that users deserve a piece of the advertising pie.
“It’s time for users to take back their data from the few big companies that control the market and get paid for it when its shared with advertisers,” says Neil Patel, a leading advisor of the project.
Once more, since it’s your data, shouldn’t you have the ability to stipulate which types of companies you feel comfortable advertising to you? It’s about personal data and control of that data, and the use of that data remaining fair and balanced. It’s about the internet becoming a better place to be, and a more equitable place to be, for all the people who use it.
With this in mind, it becomes an excellent case for blockchain technology, which is what a decentralized technology can facilitate for both advertisers and users a greater control and fairness of use for all involved.
Are Decentralized Ad Networks the Future of Advertising?
Blockchain technology does a few things very well, one of which is to create a transparent and instant payment system between parties when a particular event happens. With online advertising and the user for which the advertisement is targeted, this becomes a perfect scenario, because it means that when an ad is shown using user’s data, that user can be automatically paid a share of that advertising revenue.
No delays, no waiting period, or review, just an instant payment when an ad is shown.
This means that you can actually get paid for browsing and to be sharing your data. Also, due to the nature of being able to control preferences of which advertisements are shown when and to whom, the blockchain technology can enable users to specify which types of ads they want to see.
Blockchain can securely link content with user’s preferences, and facilitate payments to that user, as well as the site owner, creating a closed system which allows an equalized method for delivering advertising content. This is one which can, and should, allow you the internet user, a friendlier and healthier experience while online.
Their goal in a decentralized ad network is to create an advertising system which will reward publishers and advertisers more prominently.
While there are some offerings already that try to tailor your ads based on browsing, many of them require the use of a different web browser, which isn’t practical for most as chances are if you use Chrome or Safari, you aren’t going to change just for control of the ads you see.
A protocol like Kind Ads can work in your browser of choice, making it easy to adopt right away.
For site owners and publishers, the blockchain cuts out the middleman, meaning more revenue available to share with the users and the site owners.
This is just the beginning
Because blockchain technology implementation is so new, this is just the beginning in terms of what is possible, and how the blockchain public ledger will be used to increase transparency, build trust, and facilitate quick payments without a middleman.
Keep your eyes out on this technology as it continues to grow and offer more flexible and exciting opportunities to the online advertising space.
All in all, this solution is another example of blockchain creating a win-win scenario for all involved. Transparency for the advertiser, revenue sharing for the consumer, and increased revenue for the publisher. Hopefully, we will continue to see more solutions like this as time goes on and the internet continues to become a kinder and well thought out place to spend time.
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