From asset tracking to data protection, blockchain technology is revolutionizing a lot of industries globally. The digital advertising sector is no exception. That’s because blockchain is now increasingly known for its ability to resolve two of the long-standing and widespread challenges – lack of transparency and ad fraud.
The technology itself keeps a new principle in advertising. Today, it’s still marketing through the industry. Nevertheless, it can provide both publishers and advertisers an extraordinary solution for managing the inherent concerns of digital marketing.
Blockchain Delivering Genuine Transparency Over Ad Spend
In present’s automated ad market, marketers are faced with a massive amount of intermediaries and vendors at every stage. It’s making it difficult to trade effectively when doing transactions. It causes a lack of clarity over where the budget is utilized. Nevertheless, incorporating blockchain can lessen such risks, especially when it comes to trading in the programmatic industry.
Alternatively, blockchain has been known for its capability to gather and store a complete audit trail of each transaction completed. By presenting marketers with a stable receipt of events, they can guarantee they’re incurring accurate and fair charges. That reduces the risk of hidden costs. Plus, it allows for tamper-proof accuracy of goods moving through the supply chain.
Using the foundation of the blockchain, marketers can establish a safer network that enables them to transact with more confidence and transparency. It also works to the advantage of the seller. That’s because they can see the complete buyer transaction process and understand exactly which marketers they’re working with.
Reducing the Risk of Ad Fraud
Apart from strengthening transparency, blockchain is also made to confirm the validity of transactions. It also offers an incorruptible record, an attribute which lends itself well to fighting ad fraud. Blockchain can offer publishers and advertisers with irreversible and permanent receipt of every transaction through its decentralized network. It leaves no room for fraud, particularly when we talk about domain spoofing.
Domain spoofing is considered one of the most predominant forms of ad fraud these days.
Incorporating blockchain along with digital ad platforms can lessen or eradicate the risk of fraud in every area of the media trading stage. It could be the answer to preserving security marketers need to boost efficacy and streamline their budget expenditure.
For instance, XinFin is one of the blockchain technologies that implement a decentralized yet highly secure platform. Its XDC protocol can be utilized with current laws of the land as well as payment rails or in an approved jurisdiction with the help of underlying XDC tokens.
Allowing Enhanced Brand Safety
Blockchain technology can also work to protect against poor ad quality. These days, programmatic ads are both placed and targeted on the criteria of many appropriate target demographics. While these present more efficacy across the supply chain, it also denotes that advertisers have less control over where the ads are delivered. Thus, leading to low quality of placements.
There’s a huge potential for improvement and change blockchain is offering to the digital marketing industry. For sure, there will be a massive surge in efforts amongst publishers and advertisers to facilitate the technology in the future.
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