Blockchain Disrupts Advertising: Don’t Miss Out
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The advertising industry is ripe for disruption, and blockchain technology is poised to do just that. Blockchain has the potential to bring greater transparency, efficiency, and security to advertising, and it’s already starting to make an impact. In this article, we’ll explore some of the ways that blockchain is disrupting advertising and why you should pay attention.
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Greater Transparency
Transparency has long been a challenge in the advertising industry, with ad fraud, viewability, and brand safety all major concerns. But blockchain technology has the potential to provide greater transparency by creating a decentralized ledger that records every transaction in the ad supply chain. This creates an auditable trail that can help prevent fraud and provide greater visibility into the performance of ad campaigns.
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Improved Efficiency
The ad supply chain is notoriously complex, with multiple intermediaries involved in the buying and selling of ads. But blockchain technology can help simplify this process by creating a direct connection between advertisers and publishers, eliminating the need for intermediaries. This can help reduce costs and speed up the delivery of ads, making the process more efficient for everyone involved.
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Better Security
Security is a major concern in the advertising industry, with advertisers and consumers alike worried about data privacy and the risk of fraud. But blockchain technology can help address these concerns by providing a secure and transparent platform for ad delivery. By leveraging the power of blockchain, advertisers can create a transparent and auditable chain of custody for every impression, click, and conversion, making it virtually impossible for fraudsters to manipulate ad data.
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Real-World Applications
Blockchain technology is already being used in a number of real-world applications in the advertising industry. For example, Kochava, a mobile attribution and analytics platform, has launched XCHNG, a blockchain-based digital advertising platform that aims to eliminate ad fraud and bring greater transparency to the industry. Other companies, such as MadHive and Rebel AI, are also using blockchain to address ad fraud and improve transparency.
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Market Growth
The market for blockchain-based advertising is expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the market is expected to reach $1.4 billion by 2023, growing at a compound annual growth rate (CAGR) of 81.1% from 2018 to 2023. This growth is being driven by the increasing adoption of blockchain technology in the advertising industry and the growing demand for greater transparency and security.
Conclusion
In conclusion, blockchain technology is disrupting the advertising industry in a big way. It’s providing greater transparency, efficiency, and security, and it’s already being used in a number of real-world applications. As the market for blockchain-based advertising continues to grow, it’s important for advertisers, publishers, and other stakeholders in the industry to pay attention and not miss out on this transformative technology.
References:
- MarketsandMarkets. (2018). Blockchain in Media, Advertising, and Entertainment Market by Provider, Application (Licensing & Rights Management, Advertising, Smart Contracts, Content Security, Online Gaming, Payments), Organization Size, Industry Vertical, and Region – Global Forecast to 2023. Retrieved from https://www.marketsandmarkets.com/Market-Reports/blockchain-in-media-entertainment-and-advertising-market-119655441.html
- Kochava. (n.d.). XCHNG: The Blockchain Revolution in Digital Advertising. Retrieved from https://www.kochava.com/xchng/
