Cookies are a major aspect of the internet. Websites, to a large extent, expect users to accept a number of cookies to be able to gain access to their content. Cookies help websites recognize returning visitors and profile a visitor’s search choices to be able to accurately identify their interests. This, in turn, helps websites to show relevant adverts to their visitors. Interestingly, cookies have been around for more than 25 years.
Fractal Protocol, according to a tweet, will provide web users with a top-notch user experience (UX), as well as create an enabling and profitable environment for content creators.
Cookies and Online Marketing
Cookies are very important to the advertising sector. They can, however, serve as a source of huge security risks. Notably, cookies have to be accepted, and users also have the opportunity to withdraw their consent at any time. However, they still pose security risks because most websites authorize the storage of cookies. Although cookies themselves cannot reuse this information but storing them shows that there is the possibility of users’ private data falling into the wrong hands. One wrong turn and there’s the possibility of users’ data being harvested by malicious malware.
According to reports, data privacy issues have increased to distressing heights, especially as a huge population of the world now carry out major transactions via the internet on their mobile phones and PCs.
— Fractal (@fractalprtcl) March 1, 2021
Despite the growing issues of data privacy, cookies are a crucial part of effective online marketing. The rapid increase in e-commerce-based platforms and the entire world basically becoming a global village further emphasizes the importance of online marketing. Online marketing today will not be complete and effective without third-party cookies. Apart from helping to reach a more specific audience, it is also cost-effective and provides a sure means of increasing a company’s earnings. Current COVID-19 restrictions also reveal the importance of online marketing and cookies.
Despite the myriad of benefits embedded in third-party cookies, major search engine Google has disclosed plans to end all forms of third-party cookies by 2022. This will definitely spell the end of one of the internet’s most powerful data collection tools. Interestingly, Firefox and Safari have also revealed plans to follow suit with Google’s decision. The two browsers have disclosed that third-party cookies will no longer be available by default. This decision will put content creators and general online marketers at risk of going out of business as the majority of them depend on data gotten from third-party cookies to reach out to prospective customers. This is where Fractal Protocol comes in.
Fractal, User Data, and Content Creators
The platform is proposing a solution that will benefit all parties involved in the cookies/data privacy war. Fractal is looking to replace ad cookies with a system that provides incentives to users when they verify their data. The protocol is built as a zero-margin, open-source protocol that will give data privacy control back to users. The protocol will facilitate the transfer of data in an unbiased, transparent, and trustless way. With Fractal, users will earn rewards for sharing and confirming their data. Thus, providing content creators, advertisers, etc. with easier access to accurate, reliable, and verified user data.
Speaking on the partnership, Julian Leitloff, CEO of Fractal, disclosed that the platform strongly believes that users should possess total control over their data while content creators should be adequately paid for their services. Following a successful $2 million funding round, Fractal also carried out a funding round on Polkastarter.
Fractal Protocol provides a reliable solution to user data privacy and the impending doom that is expected to follow the elimination of third-party cookies. Apart from this, the platform is revolutionizing the way user data will be stored, collected, and shared without any form of privacy risk to end-users.
The platform partnered with Gnosis in 2019 to facilitate global financial inclusion.
At the time of publication, FCL was trading at $0.831028, with a 24-hour trading volume of $751,232.
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