One of the most promising but overlooked areas where blockchain has the power to disrupt and solve problems is in marketing and advertising.
Data BlockChain is a platform looking to disrupt the advertising industry and bring about a change in how entities and individuals market themselves. This is ensured by merging big data, artificial intelligence, and blockchain technology.
With big-ticket clients such as TransUnion, Equifax, Neustar, iHeart Radio and Comcast as customers, it is growing at a fast pace and could become an “Amazon-like” marketplace for data trades globally.
It aims to democratize data by making it readily available and less costly in the following ways:
1. Empower Data Source Providers
Data BlockChain offers access to a vast global marketplace for data source providers to monetize their data and better capitalize on demand. It increases the growth potential for data source providers of all sizes by reducing entry barriers within the Big Data industry.
2. Facilitate Trust and Confidence
Overcoming several hurdles that data providers face, Data BlockChain offers them full transparency, traceability, and auditability. Using a vetting and grading system for data, they aim to streamline the process end-to-end, thereby, building trust and confidence for all users.
3. Data Verification through Smart Contracts
Gauging the accuracy of online ads based on the data, in the form of clicks or followers that are currently available is very difficult. This leads to companies spending more on ads than they should as bots and hired clickers do not translate to revenue or results. Through encrypted data, Data BlockChain is giving companies an opportunity to efficiently filter fake data, thus, enabling them to re-imagine how they can advertise through smart contracts and data verification.
4. The Democratization of Big Data and Advertising
With the inherent need for accurate data, democratizing data, by taking away control from digital middlemen like Facebook, Google, Snap Inc, is the need of the hour. This will reduce costs, making it fast, transparent and straightforward for companies to acquire or sell data. This can be attained through blockchain technology using smart contracts written in solidity for transactions and payments.
5. Data Trades Worldwide
Eventually, Data BlockChain will operate as a worldwide marketplace between, individuals, businesses, and data-source traders to ensure global data trades are possible.