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UC W3 Blockchain Technology and Digital Market Discussion

UC W3 Blockchain Technology and Digital Market Discussion

Question Description

I’m working on a computer science discussion question and need an explanation to help me understand better.

COLLAPSE

Digital marketing is a field that has grown to attract many businesses to get customers to purchase services and products from a business. This field involves placing advertisements or ads in short in places such as websites where they are more likely to be viewed by the highest number of customers. However, digital marketing has the difficult task of identifying which the various content would mainly influence customers that the marketers use. Many customers or just general website visitors complain that the ads on websites are not relevant to them for different reasons. For instance, a student browsing an educational website might come across an advertisement from digital marketers, which is advertising real estate and houses on sale. This advertisement is irrelevant to such a person as his personal needs when they are students do not include purchasing a home.

Blockchain is a technology known for its various advantages, making it one of the most trustworthy technologies of this age. This technology allows for keeping a distributed ledger or list of immutable and authentic items. Entries made on this ledger cannot be edited or changed as they would affect the authenticity and stability of the ledger from the point of change onwards. This makes the technology to be ideal for a scenario where malicious individuals try to make a living by stealing the content produced by other people.

Consumers usually spend a lot of time searching for authentic products from authentic companies (Hagen, 2017). Many consumers fall for malicious dealers on the web who end up stealing their money by selling them unauthentic products. These averse dealers make use of malware and exploiting vulnerabilities available on consumer devices as

Well as websites to market their malicious content online. Due to the lack of a way to verify whether the content is accurate or not, innocent customers fall prey to these averse dealers and lose their money.

A solution to both the marketers and customer problems lies in blockchain technology. With its many features, this technology allows for marketers and consumers to have a common mechanism or method of verifying the authenticity of the other party (Datta, 2018).

This technology also provides relevant information to marketers to ensure that their content reaches the right people. This is accomplished by targeting techniques that enable marketers to choose the ideal customers for their various products wisely. By targeting consumers, the marketers can avoid wasting content and time and instead focus the right content to the right customers. On the other hand, customers can be saved of a lot of time, which would be wasted scouring the internet looking for various products that they may need.

The blockchain is ideal for this use due to various features such as (Weinberger, 2019):

It is trustworthy as no changes can be made once entries entered on the ledger
Marketers can join any time they want as the blockchain can support an infinite number of participants
It is authentic as the identity of every advert is verifiable
It is transparent and allows access to the ledger by any willing participant.

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