Blockchain in Marketing: The Cookies Solution

While many people have been celebrating The Billionaires in Space Race, many more have been apathetic, even angry. While we watch Bezos’ mid-life crisis unfolding in zero gravity, we wonder about the environmental impact of these rocket launches, the current workplace environment of Amazon warehouse workers, and the growing wealth gap between the 1% and all of us. It’s a lot. Perhaps the one way we, the normal people, can rebel against the increasing power and wealth of big tech is by safeguarding our personal data.

In fact, 58% of Democrats and 54% of Republicans think that tech companies should have tighter regulations and 70% of respondents want to see the federal government regulate how tech companies use personal data. With policies regarding cookies changing, at least moderate steps have been made in that direction. Blockchain technology, however, could create revolutionary reform if we dare to stand up further to Big Tech.

With Blockchain, consumers could officially own their data and sell their data to advertisers and corporations. This would, in effect, negate Facebook and Googles Duopoly on collected user data and may even result in more accurate insights but consulting consumers directly on what they want rather than what tech companies think they want. Additionally, consumers may feel more positive about receiving online advertising when they know where their data is going and can control which advertisers have access. This might suddenly cause large corporations to take their value statements seriously in order for consumers to trust them with their data.

The price of data might even decrease as advertisers would have to pay individuals rather than corporations looking for high margins. Even in a world where consumers aren’t paid for their data but have access to Blockchain tracking information where they could visibly see which entities have their data and where their data is being sourced, there would be a chance for limiting the control of Big Tech. This isn’t just for the good of consumers either, small businesses, medium, and even relatively large businesses often struggle to establish native brands without the support of Google/Facebook data which is more costly than hypothetically purchasing directly from consumers. Also, by maintaining such large tech monopolies, we’re limiting the opportunity for innovation from these relatively smaller companies who may find unique ways of sourcing data or building relationships with consumers when Google/Facebook data isn’t a failsafe.