Editor's Note: This article comes fromMengyan Finance (ID: Meng-eyes), reprinted by Odaily with authorization.
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Editor's Note: This article comes fromMengyan Finance (ID: Meng-eyes)Mengyan Finance (ID: Meng-eyes), reprinted by Odaily with authorization.1) This revolutionary technology has already taken the advertising world by storm.2) Blockchain technology is a better choice for network security, trust, and transparency.3) Advertisers, publishers and advertising technology vendors are turning to blockchain technology.Blockchain is fast becoming the panacea for all digital advertising woes. In fact, it was a giant leap forward for the advertising industry.This revolutionary technology has taken the advertising world by storm, upending the advertising marketing industry and redefining its processes, management, billing, and user communication.
Interestingly, it offers solid solutions to the industry's diverse programmatic advertising challenges, such as growing ad fraud, system and data integration, and more.As a result, advertisers, publishers, and ad tech vendors have begun to widely adopt blockchain technology to provide better options for cybersecurity, trust, transparency, and privacy of user information in the advertising space.Recently, big brands such as Unilever, Kellogg, Kimberly-Clark, McDonald's, Nestle, etc. have all adopted the blockchain to improve the transparency of online marketing, thus utilizing the power of blockchain technology to provide solutions for advertising fraud, trust issues, data bloat, etc. and discrepancy issues.So, let’s take a look at the unconventional ways blockchain could change the future of the advertising industry.
Fraud is evolving, and the way we respond to it should evolve as well.
Online advertising is built on an open system powered by Internet connectivity. These open systems also create a gap that makes the whole system more vulnerable to fraud.According to Juniper Research, the advertising industry lost an estimated $42 billion in 2019 and is expected to reach $100 billion by 2023, thanks to increasingly sophisticated fraudsters. However, the adoption of blockchain technology can help change the way online transactions are conducted, thereby providing a secure environment for advertisers and publishers.Given the decentralized nature of blockchain, all transactions and information are recorded on a distributed ledger. Thus, every actor in the supply chain can monitor and detect threats along the chain, thereby deterring fraudsters.The application of blockchain in digital advertising is very important, especially in preventing fraud. Blockchain technology, combined with the necessary tools, can help detect and contain fraudulent activities such as ad stacking, bot traffic, domain name spoofing, and more.One of the most attractive features of the blockchain is the level of transparency it can provide. In fact, blockchain technology can foster trust in the industry by facilitating data transparency in a way that has never existed in the advertising ecosystem.In addition to spotting and flagging sites with click discrepancies and bot infiltration, blockchain technology can assist in tracking click counts and also help target audiences who actually click.Additionally, through blockchain technology, advertisers can display an actionable view of ad placements and transactions. Thus, consumers can verify that the data they are looking at is true and accurate. Stored data cannot be changed without recording the changes made.Ultimately, this technology allows users to see the seamless flow of the entire process, such as what the product is and where it comes from, before the product is in circulation.
Therefore, blockchain can promote transparency and trust in the global digital advertising ecosystem by providing an auditable and valid ledger of transactions.
Data privacy is one of the other major challenges in the advertising industry. For the world of digital advertising, data is precious and the key to success. Today, with the decentralized nature of the blockchain, information will be secured and protected by all members of the chain.Every member of the blockchain network can access and review information on various activities performed on the chain. Additionally, each ledger has a unique public key that is distributed to all participants and linked to all transactions on-chain. Therefore, it is impossible for data to be tampered with or leaked.Moreover, with the application of blockchain in the advertising industry, the use of personal data requires the permission of the audience, so the challenges of data security and privacy are also solved. It puts users in control of their own data and keeps the value of the data entirely in their own hands.
