Can Blockchain Solve Advertising’s Supply Chain Transparency Issues?

In the current model, it’s rarely clear to the businesses paying for advertising just how their money is being spent. What has become clear, however, is how much money is being wasted on methods that don’t give guaranteed results.

What’s Wrong With The Supply Chain?

Currently, the advertiser controls all of the data gathered about their advertising, meaning they can pick and choose what to share with the customer. Additionally, many of the services they provide are reliant on third parties or intermediaries, resulting in further information that the customer can’t access or check directly. In fact, the customer is presented with the results alone, with little chance to verify they’re the best possible outcome.

All this opacity about how money is spent and what it actually garners in return, makes the existing advertising model very susceptible to fraud. False promises or inflated numbers are hard to disprove. There’s also the friction of needing different points of access to different markets and consumers. This adds to additional costs and user frustration.

How Does Blockchain Solve These Problems?

With transparency.

It seems simple, but on a transparent system like blockchain’s distributed ledger, every transaction is recorded in a readily accessible format, spread across numerous locations so that no one company or entity can take control over that information.

Cutting out those costly middlemen is another benefit — assets can be transferred peer-to-peer. It removes those third-parties who hoard the valuable data and hike up the costs in advertising.

With a transparent record, it’s much harder to try and inflate or massage the figures. Not having to mitigate for fraud also makes this blockchain model much more affordable to customers.

Where Does MEDIA Protocol Come In?

By tokenising URLs, the protocol means frictionless content can be made available on multiple, nearly endless platforms. By generating rewards, customers get the direct benefit of being able to access even paywalled content, in a truly frictionless way. This builds and expands the direct economy between publishers and their customer base.

What Next?

At the moment, this blockchain setup doesn’t quite handle the real-time processing required for trading markets, for example. But with protocols growing and developing all the time, we may soon see this change.

Nevertheless, compared to the existing model, blockchain is a marked improvement. This is the closest possible solution to the current problems. And it will only get better, with improvements and fixes further down the line, as more people adopt the technology and get involved in fostering its development.

For more information regarding MEDIA Protocol find us on our social channels below:

Website: www.mediaprotocol.org
Facebook: https://www.facebook.com/MEDIAProtocol
Twitter: https://twitter.com/MEDIA_Protocol
LinkedIn: https://www.linkedin.com/company/media-protocol/
Telegram: https://t.me/Media_Protocol_Community and https://t.me/MP_Announcements
Medium: https://medium.com/@mediaprotocolsm
YouTube: https://www.youtube.com/c/MEDIAProtocol