Google has recently followed the lead of Facebook by announcing a ban of all cryptocurrency related advertisements on their platforms. The announcement resulted in slight dip of Bitcoin price from US $9314.00 to $8664.00. The tech giants has also been throwing 'blows' at several financial instruments including Binary Option, Forex Exchange platforms, Contract for Difference (CFD's) among others. The companies see these moves as necessary steps to protect customers from these risky and speculative investments which are often mixed with scams of varying sophistication. While many may see these moves as an attack on cryptocurrency by these establishment, I see opportunities for a platform like Steem.
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How would it work
As Steem continues to gain traction, tabs such as "Trending" and "Promoted" grows into a great tool for reaching larger and wider audience. For advertisers the same mechanics of account creation remains however they can choose two possible routes to reach their audience.
- Create an account, take a large stake in the platform by buying Steem and 'powering up' and then advertising their desired product or service by producing daily or weekly blogs and thus upvoting their content to give it an initial boost to gain traction.
- Create an account, buy Daily or weekly Steem Back Dollars (SBD) and make use of the Bid-Bots that are available through https://steembottracker.com/. The use of these Bid-Bots is geared at getting their desired product or service on the "Trending" page to engage the largest possible audience.
While some may see the negative aspects of "Bid-Bots", I see it as an opportunity that advertisers can now use to get their desired product or service to gain maximum exposure. I believe this would be great for Steem economy as yearly advertising budget according to Advertising Age US companies spend upwards of 1 billion US dollars. This adds further traction on price appreciation of both Steem and Steem Back Dollars (SBD), as they become dedicated budgetary allocation.
I often remind folks, "when one door closed, another is open". The Steem audience is quite 'sharp' and well informed so I am not worried about scams infiltrating or gamification as those with the necessary Steem power would act to protect the platform from these actors. So now I encouraged you, informed folks looking to advertise their ICO's, cryptocurrency exchange or wallets that a door is already opened. The Steem platform is growing daily and curving out opportunities for entrepreneurs looking to make gains and make this world a better place. When "Youtube" bans you, we have a saying in the Caribbean "Doh beat up" (don't worry), we have Dtube, and many other innovation currently taking place.