How Digital Advertising Is Incorporating Blockchain Technology
As media agencies look for additional ways to streamline their services, better protect their assets and enhance the consumer experience, they are increasingly turning to the decentralized ledger
As the applications for blockchain technology continue to expand, the digital ad industry is incorporating the decentralized model to ensure transparency, particularly around placement and analytics, providing a distributed ledger of all transactions that can be validated in real time.
Additionally, the technology is being used to move assets between peers without the assistance of intermediaries, thereby streamlining the process and cleaning up the supply chain of digital assets. Here is how four advertisement and media agencies are moving to blockchain to improve their services:
Unilever is using IBM iX, the company’s business strategy arm, to create a blockchain solution to simplify the digital ad supply chain and provide more transparency, consequently building more trust. The partnership ran historical ad data through the system and found discrepancies immediately, rather than having to wait the duration of a campaign. Through the use of blockchain, media professionals will be able to find discrepancies daily and demand they must be fixed before an ad buy can go through.
The Marketing Group (TMG) launched a media agency called Truth that is built on blockchain technology and promises advertisers 100% transparency. Powered on an Ethereum platform, Truth’s technology uses the same program as cryptocurrency to track how a media buy makes its way from an advertiser to a media owner. The platform combines the links in the media buying chain and puts the links on blockchain to create a single, immutable ledger of all the transactions. This aims to help clients see where their money is going and should help publishers to get paid more quickly, thanks to the smart contracts.
Madhive is deploying an ad-tech platform, called the MAD Network, that is targeting digital video content sites. The platform aims to reduce the power of the middlemen in ad tech and brings buyers and sellers closer together. Instead of housing user data in a centralized data store, MadHive’s blockchain project allows users to keep their data completely private by pushing ad decisioning to the edges—to the users’ devices. The ad server asks for advertising as opposed to getting pushed advertising, so users never have to tell anyone who they are.
Tech startup Custos Media aims to keep track of digital assets like movies, eBooks and other media through blockchain technology through its imperceptible watermarking technology. To protect digital media files from online piracy, the distributed ledger can address the challenge of piracy by creating an immutable record of transactions on any asset, idea or creative work. The digital assets can be tracked throughout their lifetime, even when ownership is sold or otherwise transferred, even when the assets are assigned to players in other industries.
Employing blockchain to provide validated distribution in the realm of digital advertisement and media is just one way that creative industries are incorporating the technology to enhance their business. For more information on this topic, view PSFK’s report Applying Blockchain To Creative Industries.