Blockchain technology has the potential to revolutionize everything from stock trader to advertising. Currently, it is transforming a plethora of industries involving insurance, medical, finance, e-commerce etc. How can digital marketing and advertising industry be stood behind? Therefore, it is going to be a huge buzzword in the world of ad tech. In fact, blockchain ad tech has the possibility of combating the various advertisement’s fraud and transparency issues.
Why is Blockchain digital advertising needed?
First, the fraud exposed in the advertising industry is an alarming term which is creating a strong reaction among the internet users community. Thankfully, we are blessed with blockchain ad tech.
Secondly, visibility should have a more positive stance than the one used by pitch consultants and audit firms in the recent years. The buying industry is not as sequential as it is perceived, especially with increasing amounts of data available for substitute measures. It is not even easy to understand when the industry has always focused on products (GRP, spots, tweets, click-through) instead of results including sales, lead generation, etc.
Hence, there are some ways blockchain ad tech will benefit or bring process and mindset changes to the advertising industry.
In this blog, we will discuss how advertising innovators use blockchain ad tech to solve ad frauds and various ad transparency issues. This will help businesses earn high ROI and get full visibility into the buying models.
- Targeting/Engagement
It is true that many advertisers and ad platforms worked for years in order to find methods and acquire the data that enable them to provide the right message to the right users at the right time. It will automatically produce the good results.
2. Fraud Prevention
For advertisers, ad fraud is one of the biggest concerns. And unfortunately, sacrifice is difficult because the digital ad ecosystem is becoming more complex and opaque, especially in the past few years as the use of programmatic increases rapidly.
However, the good news is that the blockchain digital advertising industry is struggling. The main advertising and publishing vendors are behind the IAB standard “Ads.txt”, for example. But Ads.txt is not actually perfect. Some already try to trick publishers into adding them to their Ads.txt files, and it does not describe what kind of inventory a particular vendor is authorized to sell, which then opens the possibility for a provider to, for example, offer remnant display inventory for an editor such as premium video inventory.
While few companies have chosen to bring Ads.txt to the blockchain digital advertising with an offer that it calls Ads.txt Plus, others are looking to create even more robust verification offers by using this new blockchain ad tech.
3. Media Buying And Selling
Blockchain ad tech is used to enable advertisers and publishers for buying and selling ads directly or with fewer intermediaries. It is the most intriguing application of blockchain ad tech to digital advertising. XCHNG project is aiming to make this app possible. No doubt, blockchain-based smart contracts helps in automating every aspect of the delivery of ads and the payments effectively and which is very appealing too.
Moreover, The industry will have to adopt mass blockchain-based solutions to be useful for digital advertisings and there are many actors in the ecosystem, that is, intermediaries, who largely have no incentive to move forward.
4. Data Management
From measurement to targeting, data management plays an important role in the blockchain digital advertising ecosystem. Users who acquire and put the data to good use have an increasing advantage over users who do not. It is not surprising that some are analyzing the ways in which blockchain technology can address the problems and challenges related to data. For example, Comcast, announced last year that it is developing a Blockchain Insights platform(for blockchain digital advertising) aimed at improving the efficiency of premium video advertising, resulting in better planning, selection, implementation and measurement on all screens. Hence, blockchain ad tech adds value to data management.
Privacy is another most important concern in data management. In fact, Comcast believes too that the blockchain digital advertising has enough capability to shine in less time. All the data offered by the participants in the Blockchain Insights platform would remain in their own systems and hence it would allow participants in the platform to ask questions about the data of others without having to access or take possession of the data of others.
Conclusion:
So we have seen that blockchain technology is going to greatly benefit the advertising industry in the near future. It is helping many companies around the globe by improving their transparency, targetting audiences in a better manner and establishing trust with Ad buys too. So blockchain digital advertising is a good choice for small businesses to large one.
Source: https://hackernoon.com/how-blockchain-technology-will-benefit-the-advertising-industry-6435f51cc594
Website: https://tachain.io
