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Could it be Significant for Blockchain Market To Self-Regulate?

As a digital marketer, you need data to analyze the performance of your ad networks and tell whether your customers are getting the message put across or not. But then again, you can’t roll out an advertising campaign without knowing everything about whoever each customer is. But as Mark Bauman puts across, when is enough, enough?

Matters data over the past few weeks have become a tad sensitive, all thanks to the questions on data security. Click fraud is forcing marketers to go an extra mile and get to know the consumer better and indeed differentiate the real human from a machine. And as a result, the marketing world is edging towards the adoption of Blockchain as a solution to click fraud.

Posting ads is becoming increasingly competitive, a reason that has forced advertisers to become more aggressive. There’s less space and thus a diminishing opportunity to earn from ads, a phenomenon that is giving rise to the screaming, aggressive, “look at me!” ads. Google hasn’t been friendlier either, imposing rules that restrict misleading ads.

A while back, when websites and advertisers refused to self-regulate amid the fierce competition and market forces, the result was the online advertising cannibalizing itself. And slowly, but surely, the blockchain market is facing the same risk.

Lately, the number of scams and Ponzi schemes has been rising, usurping the number of legit coins. SEC’s attention has done a lot to scare most of these scams, but the latest elephant in the room is the tipping point of this unregulated market.

Could Mark Bauman’s proposed solution offer a lasting remedy?

He proposes the Internet Blockchain for Assigned Names and Numbers (IBCANN), a concept based on the working of Internet Corporation for Assigned Names and Numbers (ICANN). IBCANN will then be tasked with creating the checks and balances in the blockchain’s token, exchanges, and ICOs and it will be a decentralized platform with no real ownership.

The entire system’s working is a bit complex but will abide by the same characteristics as those of blockchain. If it eventually becomes a reality, Ponzi and pyramid schemes in the market will be phased out altogether.

Disclaimer: this IBCANN idea has no actual business as at now and everything proposed is still hypothetical.

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