Blockchain technology has gained popularity over the last year, but many industries and sectors find it useful and have expressed their views on how blockchain can transform and improve workflow. Another sector of this type is the digital media that provides blockchain applications and believes that it is a revolutionary tool that provides security, transparency and eliminates the rule on data and the platform. Some of the applications have been discussed below.
Existence of the digital rights database
The digital media sector faces from time to time enormous copyright issues that seem to be resolved through the immutability function of the blockchain. The function eliminates tampering and modification of stored data, which means that once the copyright has been issued and its data is stored in blockchain, it will become perennial and will be accessible worldwide, ending the dispute probably forever.
Transparency in digital ads
Current online advertisements lack the necessary transparency and companies are not able to get the exact number of actual clicks that results in advertising fraud. Advertisers and the organization are in a struggle to achieve transparency and trust in the channel and blockchain with transparency and security being its main features would be able to provide the necessary. Every transaction carried out in the ledger is recorded and validated, which concludes that advertising fraud can be automatically mitigated and that a reliable advertising commerce ecosystem can be established.
Deletion of third parties
Because blockchain provides peer-to-peer communications and the exchange automatically eliminates any third-party vendor from the advertising chain and allows direct communication between the organization and advertisers. This not only provides transparency to the network, but also allows agility and cost reduction from the trade.
Privacy, security and data control
Various incidents of data loss and data exchange have clarified a scenario that search engines and social media websites easily share and distribute private consumer data over which they have no control. Although regulatory authorities are being defined, blockchain is needed to improve privacy, security and data control. Blockchain registries are distributed, eliminating the data rule. Furthermore, they validate every user who wants to access data by providing high security. Once the consumer stores their personal data on the blockchain network only after validation and obtaining authorization from the consumer, any organization can access the data, providing complete control of data and privacy.
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