Blockchain and Decentralized Apps Development
Softjourn

Blockchain and dApp Development

Looking Forward to a More Principled Marketing Industry

February 01, 2019 by Michael Kordvani

Michael Kordvani
Michael Kordvani
Michael is an experienced tech entrepreneur and digital marketing specialist. Having spent time as a marketing specialist at Taktical, a digital marketing agency, Michael learned the skills necessary to build up the traffic and growth for any website or app. Michael further grew his expertise as Head of SEO at Fueled, one of New Yorks top rated app development agencies. There Michael learned necessary management, business development, and app marketing skills. Finally, Michael founded SEMnexus, an SEO & digital marketing agency with an emphasis on mobile app marketing.

One of the hardest hits to a stagnant financial sector was the one made by the  Blockchain technology is changing the way payments are processed on a larger scale. Although most payments are under the authority of centralized financial institutions, blockchain developers are working on creating dApps (decentralized apps) that enable cross-border payments in a straightforward way without unnecessary interference of big finance names. Thanks to the technology of smart contracts, worldwide industries can process payments via blockchain-powered financial applications.

Where Else Have dApps Been Created?

Finance is not the only sector affected by dApp development. Many other areas that can benefit from distributed networks built on the blockchain while adopting a consensual, public, and unchangeable decision-making mechanism that can perform transactions on decentralized apps. dApp development has shown potential in sectors such as digital identity and voting, decentralized funding, supply chain management, real estate, insurance, ticketing, and international job markets. A business that can figure out how to implement a smart contract into its business model can drive the process of dApp development forward, enabling new ways of trading.

One of the reasons certain current industries have been revolutionized by blockchain apps is the advantage of decentralization for offering transparency and immutability of records. Immutable, trusted records made many people think of dApps as more secure models with fewer possibilities of fraud. Due to the inherent nature of the smart contract technology to disable or minimize false records to near zero, this is definitely an advantage for dApps.

Creating a More Transparent Marketing Landscape

Thanks to the character of distributed applications to verify the identity of the distributed nodes by the “one computer/node, one participant” principle, there is one area that dApp development can potentially transform – marketing technology. We could see a more transparent landscape of marketing, where consumer data is driven less by bots and more by real people. Moreover, industry giants like Google and Facebook that have minimal or none competition at all will possibly need to face competition from distributed data-driven dApps.

In both B2B and B2C marketing models, companies can access a decentralized ledger, that contains all marketing data and performance records. Via decentralized advertising platforms, businesses, advertisers, publishers, and users could get access to a more transparent ad targeting and delivery. Publicly available performance reports from the dApp could be used to immediately assess the ad performance, eliminating the possibility of unrealistic statistics due to adblocker 

interference and privacy shields. End-users could gain direct insight into how their data is used and how they can benefit from it, fostering trust in the distributed advertising platform security. Even tokens can be issued for the user-provided data.  

Another way to decentralize current advertising models is by building blockchain-based search engines. Such platforms, where individuals and businesses directly find each other could potentially undermine the success of the few major interaction platforms on popular search engines. Search engines like Google have monetized the third-party support they provide by getting a decent share of all business transactions that take place in the provided space. dApp development in advertising stands to change that by minimizing such mediation.

Decentralized blockchain networks can make it easy to implement private and secure search queries or let the users decide about the amount of personal information they’d like to disclose on a concrete search engine. This model can cardinally change how user data is collected, tracked, and analyzed, in turn strengthening the scope of influence users have over their privacy. Overall, users will have a greater say in how demographics, browsing histories, and shopping habits are used for marketing purposes.

Social media platforms provide ample possibilities for developing social influence through popular icons, celebrities, sportspersons, and reality show participants. The impact of socially popular and intriguing personalities has been sold by marketing agencies under the label “social influencers”. Advertising agencies charge substantial fees for social influencers, who, in turn, set their own fees in the conventional advertising chains.

Decentralized apps could directly connect the influencers and the businesses, avoiding the fees charged by the middlemen from the marketing agencies. The trust enabled by the smart contract execution can help contract parties get straight to business, without the need for someone to serve as a backer. Undoubtedly, this change has the potential to disrupt the current business advertising models based on intermediary work.   

dApps enable direct communication between contract parties, thus replacing the roles of intermediaries with smart contract technology. The essence of executing transactions with smart contracts is getting a distributed and secure platform that doesn’t need to use third-party support. It’s important to remember many advertising agencies base their livelihoods on intermediary fees, it’s possible to see changes in the marketing industry when more dApp development enterprises provide the necessary infrastructure.

Softjourn, Inc. is a technology services provider. The world’s leading experts that take pride in developing creative solutions for Fintech, Cards & Payments and Media & Entertainment applications. Contact us to give life to your ideas!