Web3 Can Become the Future of Advertising With Privacy in Place

There is no doubt digital marketing is integral to web2 or as we know it the modern traditional internet. Can web3 or the decentralized internet have a part to play in redefining the scope and potential of advertising? Coinbase CEO Brian Armstrong seems to think so as he recently suggested that web3 could possibly take web2's CPC model (only pay if someone clicks the ad) to the next level of CPA (only pay when someone buys or takes an action on-chain).

The targeted advertising model is the popular way to go in digital marketing, and we all know that the violation of personal privacy that often comes with the territory is a big pain point. Not only the users have nothing to gain but everything to lose (like privacy due to lack of data sovereignty) but they also have no part in sharing the value of an industry that is in excess of $15b. A privacy-oriented web3 that offers data confidentiality and security can lead to a new era of digital marketing with on-chain ads.

Oasis Network is a layer-1 blockchain with a modular architecture that supports confidential runtimes in both WASM (Cipher) and EVM (Sapphire) building environments. So, building a responsible data economy for web3 where data tokenization happens while keeping user data sovereignty as a priority is not just the future, it is already possible.

Without getting into technicalities, suffice it to say that Oasis brings selective privacy features that manage end users' sensitive personal information giving them access control of what they want to share, when they want to share, with whom they want to share, and how much they want to share.

A natural progression of data ownership and tokenization is monetizing the data and deriving the rewards of the data economy instead of marketing conglomerates hogging the profits of data harvesting. Programmable confidentiality and tokenized data tools on Oasis can help with this opportunity where profit and privacy go hand in hand.

There is no doubt the idea of crypto-native marketing is still nascent and will have its own set of challenges and opportunities. Oasis, with its smart privacy technologies, is ideally suited to take the idea forward so that on-chain advertising can take off in the right direction.

What do you think about the scope and potential of privacy-assured on-chain ads and its merit as one of the top 10 ideas for crypto builders to focus on?