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A big announcement was released this week, come June 2018, following Facebook, Google will begin officially banning cryptocurrency-related advertising. The official statement from Google says that they will start blacklisting ad content connected but not limited to initial coin offerings (ICO), cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice.
It was not clear from the statement, but a few threads on social media supported the theory that the announcement has to do with preventing people from seeing advertising from poor projects in a unregulated market. Perhaps not. Most ICO projects are backed by ambitious teams and industry changing concepts. So what other reason can there be?
Did you know that although Google publicly denounced cryptocurrencies, Google’s parent company – Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Overstock.com (NASDAQ:OSTK) are the two largest companies for cryptocurrency and blockchain investing. A report from CB Insights shows just how active corporations are in the space. This investment trend is understandable, many new projects are using blockchain technology (often in the form of private distributed ledgers) to extend, improve and make cost savings in the traditional centralised business model. What Alphabet does is to purchase bright blockchain ideas in order to integrate them in their centralised systems and that is stalling innovation. Clearly, decentralised blockchain browsers like Mist or Nimiq are a threat to the business model built around tracking our every move online (and, increasingly, in the real world as well) and mining it to provide sophisticated targeting for advertisers.
Obviously, Google is a company concerned about monopolies. Decentralised systems move power back into the hands of the consumers while also presenting them with technology that is exponentially more efficient and transparent. However, because of their business model, Google will not profit from decentralisation and that is why their public announcement will also limit ideas and innovations coming from decentralized systems on the blockchain.
Now is the time for Blockchain startups to move away from advertising with Google and Facebook. This means more effort will be put in creating systems where people help market the companies through growth-hacking while earning cryptocurrency in the process. Businesses supported by the community and utilising the wisdom of the crowd on such platform as Crowdholding will succeed in the decentralised systems.
Crowdholding is an open innovation platform where businesses and the community meet to innovate and solve business challenges. The community enhances products and services by giving feedback directly to business owners. Each time a contribution is made, the community gets rewarded with cryptocurrency. The community influences product development from the start, creating products people actually want and making everyone’s lives better along the way.
Join the open innovation community on Crowdholding.com and help change traditional business models through true decentralisation and involvement of the community at every step of the process.
Crowdholding Telegram: https://t.me/Crowdholding