As the technology shows an emerging trend, Blockchain seems to take it’s position in the ad tech industry dealing with issues like fraud and transparency.
Prior to proceeding with how this innovative technology is transforming the plethora of industries, let’s first understand what block chain is in your dictionary? Undoubtedly, it’s concept is logical and being defined as the harbinger of change within the digital advertising industry.
Although the concept of blockchain is still misunderstood by the majority, a large number of technologist and analyst confirms that if opted by the companies, this would enhance the level of productivity.
Being the digital ledger, it records each and every point of the transaction, thereby offering security, transparency as well as trust. The best coming from this technology is that it can be seen by everyone, but cannot be edited by anyone.
No matter if the supply chain has a single transaction or number of transactions, all the information is placed in the blocks and are fingerprinted.
The use of blockchain technology offers numerous benefits, thereby transforming the ad tech industry.
How blockchain technology transforms the Ad tech industry?
Making use of it is further challenging for the advertisers who are struggling to make sense of their return on investment. In the previous years as pitched by the consultants, visibility within the buying models should have the positive stance.
With the increasing use of big data by the companies for the surrogate measures has always been paid attention towards the outputs rather than the outcomes in the buying industry, is actually not sequential as it is perceived to be.
Bring improvement in the advertiser and agency relationship
The use of blockchain technology serves to bring improvement in the relationship between the two (the advertiser and the agency) or say secure the trust between the two.
Businesses that are looking forward to seek the advertising opportunities invest huge substantial amount of money to the advertising agency in order to let them manage their investments.
Some of the marketer at such a point even start asking if it is helping to get the enhanced value of money invested. With the use of blockchain technology, the member of supply chain will make use of the similar information.
Minimize the chances for ad fraud and increase the value for the industry
The adoption of blockchain technology further reduces the ad fraud if the ad tech industry joins hand for greater output. Since the ad fraud is raising the level of difficulties in the advertising industry, the use of anti-fraud system has been continuously trying to avoid it.
The popular routine among the companies being followed is that each and every is coming up with the development of centralized ventures which adds friction by the placement of increase in the fees or on the other hand develop new targets that will make the potential fraudster move.
Although the advancement in technology is growing, there seems a lot of interest from the bigger brands. But still this technology has become a marketing staple. This may be due to the issues that fear the marketers. On the other hand, a lot of them are even opting this technology for the benefit to make the businesses grow.
On the whole, the benefits of Blockchain are quiet visible for the businesses and the adoption of technology benefits the ad tech companies. What benefits have your businesses achieved upon opting this Blockchain technology?
How many years did it take you to achieve those benefits? Share your experience with us in the comment section as below!