Twitter, Facebook and Google — three of the social giant, which is related to our daily life, have banned or restricted advertising associated with cryptocurrencies. Whether the decision to render to reliable coins, ICO, and blockchain-companies a good service, by creating a legitimate competition?
Until the recent bans anyone could advertise ICO. Advertising in social media and search engines are quickly and easily configurable. Information from the advertiser is not checked before publication, and the frequency of the demonstration of the ads depends on the budget invested in advertising.
It used fraudulent ICO, creating thousands advertising campaign, resulting in many unsuspecting users of these platforms were risking their investments. Twitter, Facebook and Google decided to ban advertising of crypto-currencies to protect its users.
Speaking about the ban from Twitter , which came into force on Tuesday, a company representative said:
We strive to ensure the security of the Twitter community. Thus, we added a new policy announcements on Twitter related to the cryptocurrency. In accordance with this new policy is the primary supply of coins (ICO) and the sale of tokens will be banned throughout the world. We will continue to iterationlimit and improve this policy whenever development of the industry.
Craig Sproul, founder and CEO of Crowd Machine, said the news from Twitter:
Since the cryptocurrency community continues to grow in Twitter, Telegram and Discord, with him spread fraudulent projects that use people interested in the industry. Speaking on behalf of the company with legitimate activities, beyond the current hype, it is extremely important to recognize the power of Blockchain technology and how it will affect the world. It is not surprising that Twitter has taken such a decision and, hopefully, a solution to a major social channels to ban advertising will help to displace bad players off the field in the future advertising for legitimate projects could appear on these platforms.
Dan Novice, co-founder and CEO of media-streaming applications based on the blockchain, shared his vision of the situation:
Fake ICO, which flood the social media platform is for profit, caused damage to the entire industry. Therefore, I fully support the ban. The good characters in this space there are much more tools to implement their ideas than just advertising in Facebook, Google and Twitter.
In one sense, the bans have cleared the playing field for reliable, innovative blockchain and cryptocurrency companies. Campaign in social media will now increasingly focus on obtaining information through referrals and recommendations.
Companies that want to promote their ICO or a new product should focus on attracting real users to participate, exchange of information and reference. The choice of the investor should at least partially be based on what he sees in the news, and that is published by persons whom he trusted.
Sure ICO and cryptocurrency companies had the opportunity to use current situation to sell their strengths. They need to interact with the real audience to promote an experienced team and advanced technology based on the blockchain, as well as tokens, which may give investors a decent income.
Eric Yaverbaum, CEO of Ericho Communications, understands this :
Solution for any honest player in this still young industry is to determine the priorities of the communication strategy, which through the clutter and reaches the target audiences and clearly distinguishes the company from competitors. This means to focus on specific achievable goals that have real value in the market and be able to convey your idea to the consumer