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The advertising world is full of fraud issues, complicated supply chains and lack of data privacy control. more money than ever before, they are losing control over ads due to an increasing number of intermediaries in the supply chain.
The good news is that blockchain technology has the potential to solve these problems, provide more transparency and confidence in digital advertising industry.
(Full disclosure: My company provides fraud-reduction tools to advertisers within its blockchain platform.)
1. Greater fraud prevention
Advertising fraud is a big problem in the number of exact numbers varies from source to source, but it has been suggested that up to 36% of all digital advertising traffic could be fraudulent. Mobile advertising spending hit $ 40.1 bill last year . This means that around $ 14 billion of all mobile advertising spending is potentially fraudulent.
The solution is in blockchain as a digital ledger of transactions. Every transaction of a digitized product is stored on blockchain as an immutable record, which means that nothing can be simulated or modified after the fact. & Nbsp; Each transaction is recorded only when all the parties agree. The ledger is decentralized or shared in real time by all participants. This means that no party can unjustly influence the results.
Because of its transparency, this technology has the potential to allow advertisers to more easily monitor where ads are going and what happens to them. Blockchain even has the power to provide information such as the bid price, from which impressions come and how many times an ad is displayed.
2. A more transparent supply chain
The ad supply chain is incredibly complicated. What was once a simple transaction between advertiser and publisher now implies platforms and aggregators on the supply side that manage ads along the way. Advertisers often do not know exactly what happens after an ad leaves their hands.
For this reason, many advertisers now feel they have no control over their ads in the way they are presented, offered, or distributed. They may feel powerless because they can not choose which steps, or even how many passes, an ad should pass before being put before consumers.
Blockchain's decentralized ledger makes it possible to record all the parts that have touched the advert from the advertiser to the publisher. This allows advertisers to regain control of the supply chain and make it completely transparent.
3. Data Privacy Enhancement
By now, everyone in the advertising world has heard of Cambridge Analytica . Users are more than ever about the way their data can be used against them, and governments are starting to respond with their data protection policies like the general data protection regulation.
One problem is that people tend to put the same sensitive information across multiple websites. Most people do not understand where their data is stored and how it could be used. Because data is stored by multiple organizations, a security weakness in one could lead to stolen data. & Nbsp; It's no wonder people are opposed to providing advertisers with personal information. & Nbsp;
Blockchain technology offers the possibility of a secure place to store sensitive information. For example, a highly encrypted decentralized personal information database eliminates the need to enter the same data multiple times. People can access their information with a private key and choose what they share and with whom.
Advertisers, on the other hand, can use blockchain to demonstrate to users how their personal information is used, making it clear that they are using data in a safe and useful way.
These measures could potentially increase user confidence in advertisers. And with the ability to control exactly what they want to share, people may be more inclined to share basic information that allows advertisers to show them the ads they're most interested in.
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The advertising world is full of fraud issues, complicated supply chains and lack of data privacy control. Advertisers not only lose more money for fraud than ever, but also lose control over ads due to an increasing number of intermediaries in the supply chain.
The good news is that blockchain technology has the potential to solve these problems. Here are three important ways in which blockchain can provide more transparency and confidence in the digital advertising industry.
(Full disclosure: My company provides fraud prevention tools to advertisers within its blockchain platform.)
1. Increase in fraud prevention
Advertising fraud is a big problem in today's advertising industry. The exact numbers vary from source to source, but it has been suggested that at least 36% of all digital ad traffic may be fraudulent. Mobile advertising spend reached $ 40.1 billion last year. This means that around $ 14 billion of all mobile advertising spending is potentially fraudulent.
The solution is in blockchain as a digital ledger of transactions. Every transaction of a digitized product is stored on blockchain as an immutable record, which means that nothing can be simulated or modified after the fact. Each transaction is recorded only when all parties agree. The ledger is decentralized or shared in real time by all participants. This means that no party can unjustly influence the results.
Because of its transparency, this technology has the potential to allow advertisers to more easily monitor where ads are going and what happens to them. Blockchain even has the power to provide information such as the bid price, from which impressions come and how many times an ad is displayed.
2. A more transparent supply chain
The ad supply chain is incredibly complicated. What was once a simple transaction between advertiser and publisher now implies platforms and aggregators on the supply side that manage ads along the way. Advertisers often do not know exactly what happens after an ad leaves their hands.
For this reason, many advertisers now feel they have no control over their ads in the way they are presented, offered, or distributed. They may feel powerless because they can not choose which steps, or even how many passes, an ad should pass before being put before consumers.
Blockchain's decentralized ledger makes it possible to record all the parts that have touched the advert from the advertiser to the publisher. This allows advertisers to regain control of the supply chain and make it completely transparent.
3. Improving Data Privacy
By now, everyone in the advertising world has heard of Cambridge Analytica . Users are more than ever about the way their data can be used against them, and governments are starting to respond with their data protection policies like the general data protection regulation.
One problem is that people tend to put the same sensitive information across multiple websites. Most people do not understand where their data is stored and how it could be used. Because data is stored by multiple organizations, a security weakness in one could lead to stolen data. It's no wonder people are opposed to providing advertisers with personal information.
Blockchain technology offers the possibility of a secure place to store sensitive information. For example, a highly encrypted decentralized personal information database eliminates the need to enter the same data multiple times. People can access their information with a private key and choose what they share and with whom.
Advertisers, on the other hand, can use blockchain to demonstrate to users how their personal information is used, making it clear that they are using data in a safe and useful way.
These measures could potentially increase user confidence in advertisers. And with the ability to control exactly what they want to share, people may be more inclined to share basic information that allows advertisers to show them the ads they're most interested in.
