According to this year's Gartner Hype Cycle for Emerging Technologies, the blockchain is suspended between the dividing line of the Peak of Inflated Expectations & # 39; and the & # 39; Trough of Disillusionment & # 39;
This accurately sums up the conversations I've heard in the adtech world. There was a lot of initial excitement about how blockchain would solve many of the long-standing structural challenges of digital marketing and announced a new wave of innovation and transparency. However, this sense of anticipation has stalled due to the lack of traditional adoption and the sentiment that blockchain, in the context of Adtech, is still a bit of an abstract word.
I can understand the opponents, who may also have been skeptical about emerging technologies like artificial intelligence until they have begun to demonstrate real performance for companies like IBM, but I think the blockchain is absolutely ready to drive real changes in next years. Here because.
Competitive pressures
At present, there are still limited incentives to modify consolidated business models by adopting new technologies. Firstly, the blockchain technology is still under development, as well as with the emerging technology before it, there is caution in experimenting too early in the process. Secondly, many are reluctant to reorganize business relationships around a technology that has not yet demonstrated its power in adtech. But change will surely come when technology matures and bigger players will start pushing solutions out. Now that big consulting firms have a skin in the media game and access to big budgets and technological brains, I expect to see an increasing number of blockchain technology solutions grow in the coming years – and where big players go, so does the market .
Margin calls
The legacy "pipes" of the Internet have created a complex environment, but there is a lot of players who have exploited this opacity for their financial gain; it was simply not in their interest to change the status quo. However, the negative publicity surrounding brand security and transparency issues in recent years means that the industry is now more focused on demonstrating value than ever before. For example, my company has recently launched a blockchain-based solution called the Garantable Viewable Market, which guarantees a 100% visible and fraud-free market with credit to spend on non-visible or suspicious fraudulent placements. When blockchain technology proves its value, it will be difficult to bring the quadrant back to informed speculations.
First level marketing for consumers
The select committee of the US Senate on intelligence hearings on how digital media companies operate when it comes to data, combined with the introduction of the GDPR, has made consumers much more aware of privacy, how their privacy is used data and how valuable it is for advertisers. Blockchain technology and micropayments that make it possible offer the opportunity to reward consumers to interact with advertisements, view creatives or provide data or other relevant information. This is an interesting proposal in the era of the adblocker. Likewise, micropayments and smart contracts can be used to simplify payment and contractual systems to create a clearer and more efficient line of sight.
As we approach the next decade (less than 18 months away) we will see the innovation of the great players who are investing heavily in blockchains and collaborating with experts to bring this technology into their activities. This year Cannes has been inundated with blockchain announcements and discussions, and although some efforts may fall by the wayside, others will prevail with the right roadmap, talents and partnerships in place.
However difficult the learning curve is, the blockchain technology has begun its transition from the theoretical keyword to making a material impact on how business will be conducted in adtech.
MediaMath ANZ country manager Yun Yip
