Blockchain promises many things to potential users- from secure financial transactions to smart contracts, and now, a more transparent and fraud-free programmatic adtech space . Will it succeed in creating a more fair and productive industry?
There is no debate about AdTech’s big transparency problem. The recent call for reform from all the major advertisers in the world – including the top 10 big spenders – on the World Federation of Advertisers (WFA) platform is just the next round in an increasingly adversarial ecosystem. Nothing hurts advertisers like knowing for sure that most of their money is not going into active media. This, coupled with other massively concerning issues such as ad fraud, poor user experience and a complete negation of trust among multiple players in the digital advertising ecosystem has led to the latest salvo in a showdown long coming, by way of a charter of principles, no less.
AdLedger, a not-for-profit research and development consortium with the goal of furthering trust and transparency in the digital media space, is one of the many players in the race to test blockchain technology as a solution to the adtech effectiveness and transparency challenge.
Apart from AdLedger, there are other players in the space such as Ternio, SmartyAds, and The Blockchain Programmatic Corporation. IBM is an early supporter, and their CMO Michelle Peluso said in January this year that they are thinking a lot about “how blockchain is going to affect media buying and how much fraud and waste can be eliminated by putting blockchain in programmatic.” The ability of the technology to scale and process the millions of transactions needed in RTB in present-day Adtech is the big question mark as well.
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