Smart contracts enhance affiliate marketing
Cryptocurrency is a trending topic nowadays as it is slowly being incorporated into every business, just like the internet did over time. There are numerous digital currencies including Bitcoin, Litecoin and Ethereum. These are incredible technological pieces, but initially, you need to invest in order to start earning.
The real value of cryptocurrency is that different companies are employing the technology of blockchain to resolve problems we encounter in the real world. Even though this kind of technology is so powerful, the majority of people are not aware of its importance and worth.
I have written this article hoping that it will help you start your journey into the cryptocurrency world if you are a beginner, or maybe deepen your knowledge regarding the technology if you already know some things about the digital currency. Here I will discuss the ways in which blockchain is changing businesses and also my thoughts on the effects of this technology in the industry of affiliate marketing.
Which are some of the problems that Blockchain can resolve in Affiliate Marketing?
As a person who knows how affiliate marketing works, I can firmly say that it has many issues. Leaking traffic and loss of visitors, the sudden drop in conversion rates, payments that aren't being processed. All of this are common problems in the industry. Even though that can be daunting often times, as affiliate marketers, we take the risk. Blockchain can assist in improving affiliate marketing and resolving most of the issues. I have come up with a few ideas of specifically how blockchain technology can solve the problem.
Digital advertising carries many risks and problems, including the following:
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almost half of the users mobile data is wasted on advertisements and trackers;
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approximately 132% malware per year reduced revenue;
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many electronic devices run ad-blocking;
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the targeting is poor and marketer oftentimes get fooled by advertisers who commit fraud.
The digital coin that eliminates these problems is AdEx. This is an abbreviation for "advertising exchange" and it is a decentralized platform where advertisers and the publishers negotiate advertising agreements. AdEx is rather unique because it renders transparency, unlimited access, and free-of-charge service. Advertisers run the digital ads on numerous websites daily. AdEx provides them with the control over the target, the time, and the site where their ads go, by using ADX tokens.
With affiliate marketing, you are constantly under the pressure of not receiving the payments you have worked so hard for. Encountering an affiliate network or advertiser that doesn't pay on time, or in the worst case doesn't pay at all, is not that surprising in this industry. What can you do to get your money? Write angry posts? Sue the person? These aren't things that quite apply when you work virtually and never physically meet. Therefore, one of the solutions would be using Smart Contracts. This is an innovation of the platform of Ethereum. Basically, you and the advertiser agree on the number of conversions and the rate for each one. A Smart Contract gets compiled and it needs to be signed. As soon as you send the conversion, you automatically get paid.
Stepium is one of primary crypto platforms developed on affiliate marketing. This project gives you the opportunity to earn Ethereum in both active and passive ways. In the active method, you can earn crypto coins creating a profitable portfolio with several cryptocurrencies. Meanwhile, in the passive method, you can use tools such as binary marketing to generate profits. A user with third level contracts, even without participating in the cloud mining process can earn extra coins from investors of his/her branch to the sixth level.
In my opinion, blockchain won't be having any significant effect on affiliate marketing for the next years. People don't yet understand the importance and how efficient it can be when used properly. In a near future, blockchain is going to make the world more transparent, we aren't going to lose money the way we do now due to its effective payment methods and we will be less prone to fraud.