Blockchain has started revolutionizing the entire system with its trust and security. Most of us now come to know about the commonly used cryptocurrencies available like Bitcoin, Ether, Ripple, EOS and many more. But only a few started to find the real usage of this currency. For example trading, purchase and sales. More than just a financial transaction it has become a powerful full tracking system that gives ownership of documents power to exchanging digital and physical assets.
Digital signage is such an industry where we can use physical asset ownership as the base to record and securely monitor transactions and digitally record that transaction. Digital signage is a subsystem of the digital advertising industry that uses digital text, projectors, LCD, LED displays which display simple text, websites, videos, images, and even hotel menu. Now we can see digital signages anywhere like restaurants, parks, public areas, pathfinding, outdoor advertising, and marketing. How distributed ledger technology can provide benefits to the digital signage industry and what's its role in today's marketing? Let us see some real-world use cases for blockchain in the digital signage industry.
Producing digital content according to local area trends has always been a difficult situation for the content creator. Proving ownership of the content is also difficult. Here the usage of DLT will help to prove the authenticity of the content and also will help to build the trust between vendors and content creators. Suppose the vendor purchases a content of the artist from the decentralized content platform and the purchaser is able to track the contents previous record. One platform for the different artists where they are able to showcase their works and advertisers will be able to purchase from there with all trust.
Now, most of the advertisers try to reach the customer in as many ways that are available and try to track the effectiveness of their advertisement and signages. For example how many times the current signage is used which all trades show the current signage is involved everything can digitally be recorded. Advertisers can simply track the situation, like ad-frequency, its effect on the customer budget, how much it gets consumed and the overall expenses. Blockchain provides a tamper-proof, immutable fraud-free purchase and absolute tracking of records.
Trading of signage in Blockchain
Signage trading with a blockchain network helps more secure and stable platforms. The trading of ad space becomes easy and transparent and open with advanced immutable transactions. Since centralized trading will give you more cost and signage becomes much more expensive, people are able to charge in different ways than the current market values. Sometimes the artist takes more money and advertising becomes expensive and in some other cases, the large firms try to negotiate with the artist or ad space and will be forced to take a low amount that the companies provide. On bringing to a common and secure platform both the seller and purchaser will have a fair deal. In a blockchain platform, they would have a fair, secure, transparent transaction. An automatic verification process will become much easier on the blockchain.
And we've seen that in the near future, blockchain technology will help the advertising industry considerably. It helps many businesses across the globe by enhancing their transparency, better way of targeting customers and establishing trust with Ad buys too.