In early August, Amazon announced it would hire blockchain experts for its marketing and advertising division. The giant is already using the technology in the field of supply, but seems willing to use it in other aspects of its activity.
In many ways, Amazon needs to differentiate between Facebook and Google, which currently dominate the advertising industry. If they are to succeed in implementing blockchain, Amazon could take over some of the market share from other advertising giants.
What can blockchain offer for the advertising industry?
The advertising industry is currently using very outdated, time-consuming, time-consuming processes when it comes to sales, payment, verification and other critical functions. Fortunately, blockchain technology is ideal for resolving issues of transparency, trust, verification, efficiency and complexity.
Smart contracts, in their simple form, are automatic – two parties agree to a set of conditions and each party is paid either with goods or services. Buying and selling digital advertising is more complicated, but it is no different.
Apparently, Amazon recognizes the value of the blockchain at the core level of its advertising model – for billing and reconciliation. However, it is only a matter of time before you start using the technology to increase the efficiency of the tokenization advertising system.
Amazon is trying to leave its mark on the digital advertising ecosystem, and in order to get there, it must innovate and overcome the major platforms of today. How blockchain technology will be implemented in the advertising ecosystem will be the key to its success.