Cookies have changed how the user communicates with web pages. In a broader perspective, cookies collect information from users as they scroll through web pages. This information ranges in various forms and aids advertisers to enact on data differently. However, users have the liberty to delete these cookies from their web browsers.
Even though cookies have seen some modifications in the past years, however, it has continued to raise privacy concerns across the online community. They store personal information or searches from a computer – ad tracking or information contained in an online form. Advertising networks use this information to reach out to the targeted customer.
Google announced on January 14th about its plan to bring to an end the use of third-party tracking cookies in the popular Chrome browser. This policy is expected to be fully implemented within two years, starting from the time the announcement was issued. This is considered appropriate to improve online users’ privacy and security while browsing the internet.
This move is likely to shake up the entire advertising ecosystem which has greatly relied on cookies to track and target advertising. This comes as a step into the future in combating the unscrupulous harvesting of users’ data and rendering them vulnerable.
Since the inception of Cookies in 1994, it has always been a stop-gap solution, the users have been the culprit. Ad networks had relied on this protocol to stay profitable. As the Google Chrome third-party ban comes closer, big ad companies now in a panic as the future becomes gloomy and very uncertain for them.
In response to this move, Criteo, a company that specializes in retargeting advertising lost a significant market share after the company’s stock plunged 16% in one day and took a further downtrend of 7% the next day. This is a great time to turn away from web cookies, as blockchain could be filling this gap.
Google’s decision to put an end to third party cookies has left ad networks with no other alternative than to seek an imminent solution that could match Google’s ban in the most appropriate way. The decentralized nature of blockchain makes it a perfect fit for the replacement of web cookies.
The invention of blockchain’s smart contract has opened up windows of opportunities and has disrupted the way we execute business. Decentralized Applications (DApps) enables processes to be completed without the need of intermediaries or third-party. The advertising industry is the latest sector to have found a solid use case of smart contract technology.
The current advertising space is heavily centralized, this accounts for the reason why Google can end support in one product and the whole market comes panicking and crashing. A decentralized advertising network should be able to decouple central control and enable each bundle to operate as an independent unit.
As ad networks seek for a solution to maneuver google's policy, a move to blockchain’s smart contract-enabled ad network is imminent. This approach borrows a leave from SaTT network, a blockchain-based ad network that has seamlessly revolutionized the advertising process with the aid of smart contracts.
The SaTT Network is set to disrupt the advertising industry with its state-of-the-art smart contract-enabled protocol. SaTT is setting a precedent of a decentralized ad network with the help of blockchain smart contracts. This is positioned to put an end to the current privacy and security challenges facing the ad industry.
The SaTT solution does not only enacts on data directly, but it also has the capacity of cutting down advertising costs, improving payment efficiency and relevant statistics to reach better marketing decisions. This is positioned in such a way that it will benefit both the advertisers and the publishers.
The solution spans across upholding high regard for users’ privacy, an increase in the relevance of ad campaigns, it improves fair compensation based on the results of campaigns, and also enables a high level of transparency which gets rid of fraudulent bots and fake traffic.