The advent of new technology has an all-rounder effect on every aspect of modern living. Through gradual progression and implementation in every known industry, it transforms and reforms the legacy systems. It happened for the internet and it is happening yet again. This time it is the Distributed Ledger Technology, Blockchain.
After its first successful implementation through the launch and transaction of the cryptocurrency Bitcoin, Blockchain has disrupted almost every industry known to us. The one that we will talk about today is a specific segment of advertising which is digital signage. But before we get further into the article, let’s do a quick recap on Blockchain technology.
A Brief on Blockchain:
Blockchain can also be considered as a decentralized and distributed ledger, with no central database. It is distributed throughout multiple enterprises and computers via a database that is governed by no single centralized database. The use of Blockchain was initiated through the use and exchange of crypto-currencies.
The anonymous Satoshi Nakamoto used Blockchain for the first time for Bitcoin transactions. It was because Blockchain guarantees accurate transactions that get recorded securely. Blockchain offers immutability too, which means that none of the records of the transactions can be altered or tampered with. Any change happening in the Blockchain gets recorded instantly and all the participants can see it in real-time.
It might have started with cryptos, but Blockchain has moved beyond that with the creation and implementation of smart contracts, digital identity management, cross-border payments, etc. paving the way for reformation in every sector.
Digital Signage and Blockchain:
There are various ways in which Blockchain can impact the way digital signage advertising works. Firstly, it can help in confirming the impressions of such ads. Many companies are already working on it. Let’s take VODXS as an example. The company created a point of display ad for a bathroom sink and linked it to Blockchain. Every time someone went to wash their hands the ad displayed on the screen. The system could even confirm if a person saw the advertisement or not.
It can also benefit the creators of Digital out of Home or DOOH advertising. Through a Blockchain, the creators can post content and get credit for that. Even payment will happen easily over the decentralized network. In the case of DOOH, even the customers can engage with the ad campaigns over Blockchain through tokenization.
The production and management of quality content for digital signage is a complicated job for the vendors as well as the end-users. Blockchain can be used to facilitate content trading platforms, making the procedure easy and hassle-free. It will make it easy for the end-users to search for the content that they are looking for. The creators can register their work under the company on the decentralized platform. This will make it easy for the company to identify its creation. It also makes it easier for the content creator to work with multiple companies, using the right Blockchain-based tools to make the best digital signage.
Blockchain technology is still in its early stages of development and is evolving rapidly. The solutions and reformations that we are mentioning right now are just the tip of the ice-berg. With time and further advancements, Blockchain will come up with even better solutions to streamline the existing operational flowcharts in the advertising sector. It is a great time to invest in distributed ledger technology as it has a lot in store for us to benefit from.