Home >> Digital >> Article Presented By, IDMA - Mathrubhumi.com presents e4m's IDMA 2018, gold partner - Republic TV           Techमंच - exchange4media presents Techमंच - Digital Conference 2018, gold partner - Mathrubhumi.com

Blockchain will revolutionise advertising, here's how!

05-March-2018
Font Size   16
Blockchain will revolutionise advertising, here's how!

Put on your nerd glasses because we're talking blockchain today. At first glance, a blockchain might seem like an overzealous celebrity security or a road traffic-easing device but blockchain is all about business models and digital transformation more than just technology.

Blockchain has the ability to revolutionise how business is conducted. In the marketing and advertising world, blockchain can have direct implications on reducing ad fraud and increasing efficiency of ad spends.

Agencies will soon adopt the technology for the four broad benefits that blockchain brings to the system. "Blockchain ensures Immutability of Data. Once data is recorded on the blockchain, it cannot be changed. It is decentralised and therefore also highly transparent. Data on the blockchain is there for everyone to see. Finally, it is secure. To introduce a malicious block, one needs to change all the previous blocks and one needs to do it in more than 50 per cent of the nodes in the blockchain, which is almost impossible," explains Vijayan Parthasarathy, blockchain enthusiast and co-founder inResto.

Parthasarathy broke down the applications of blockchain in advertising into four main areas like reducing ad fraud, creating decentralised ad exchanges, creating a token economy to incentivise advertisers, publishers and users, and a transparent data analytics platform.

Let's take a look at the four areas:

1. Reduce Ad Fraud: The MetaX platform powered by AdChain offers end-to-end transparency for all data in the supply chain of digital advertising. The MetaX platform provides buyers with a scalable and trustworthy solution for tracking and verifying all advertising impressions.

"Of the $200 billion digital advertising market, $10 billion is lost to BOT traffic. There is a need to create a clean pool of supply. A central registry on the blockchain will clean up the supply side. Publishers need to register into the central registry that prevents malicious publishers from enrolling in the registry," explains Parthasarathy.

2. AdExchanges: A platform like AdEx will enable advertisers and publishers to deal directly with each other without middlemen.

"Blockchain will enable the creation of a decentralised ad exchange. This is important because 50 per cent of ad spend is lost on middlemen and middleware. P2P buying and selling eliminate middlemen and middleware. Everything is executed using smart contracts. In addition, discovery, matching, negotiation and settlement are all automated. All this will improve ad spend efficiency and transparency increases," observes Parthasarathy.

3. Valuing User Attention: According to Page Fair in December 2016, there were over 600 million devices running Adblock software globally, 62 per cent of which were on mobile devices. Large emerging markets are the current driving force behind rapid growth in mobile Adblock usage.
Blockchain that rewards users for their attention to content and ads can reverse the fortunes of publishers. Parthasarathy paints a happy picture of a blockchain driven token economy with the three stakeholders - Advertisers, Publishers and Users. In this world, advertisers pay publishers with tokens, advertisers pay users for their attention and users can use these tokens to access premium content by the publishers. What's not to like?

The Bitclave platform (Consumer Activity Token - CAT) already ensures that users are rewarded for sharing personal data.

4. Transparent Data Analytics Platform: 
Consider a decentralised data platform where the advertisers, publishers and users are constantly providing data about ad efficiency. The data will help advertisers reach the right customers based on their budget with a fair level of confidence.

Sadly though, India is a long way from adopting blockchain despite it being the buzzword for 2018. When the push comes for blockchain, it will come from the advertisers themselves because they have a lot to gain from this business model. "Blockchain will give transparency to the investment that clients make with the possibility of removing middlemen and reducing the costs," says Rahul Vengalil, CEO and co-founder of a digital audit firm, Whatclicks.

Blockchain will open out parts of the ecosystem that were hitherto hidden from clients. "Large clients will have to take the initiative for the adoption of this," adds Vengalil.

Even though blockchain seems to have many applications on the digital front, it can be used for both online and offline business. "But it's programmatic advertising that will have a new lease of life with blockchain technology," notes Vengalil.

Tags Times Internet Adex blockchain technology Whatlicks Bitclave

In an interaction with exchange4media, PC Musthafa, CEO & Co-Founder iD Fresh Food shares how the brand deals with competition and marketing strategies followed by them.

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

right
left
BSNL & CALL2ACTION COMMUNICATION INDIA LAUNCH MOBILE ADVERTISING PLATFORM, INFOMO IN NEW DELHI CHILDREN’S RIGHTS ACTIVIST KAILASH SATYARTHI LAUNCHES BOOK ‘EVERY CHILD MATTERS’ SENIOR JOURNALIST VIJAY TRIVEDI LAUNCHES BOOK ‘YADA YADA HI YOGI’ BASED ON YOGI ADITYANATH EMINENT JURY CONGREGATES TO PICK IMPACT’S 40UNDERFORTY ACHIEVERS PORTER PRIZE & INSTITUTE FOR COMPETITIVENESS RECOGNIZE STRATEGIC ACUMEN IN COMPANIES DELHI AD CLUB-SAARC AWARDS 2018 RECOGNIZE EXCELLENCE ACROSS CREATIVE, MEDIA & DIGITAL AGENCIES MARK TULLY, OTHER JOURNALISTS HONOURED BY MUMBAI PRESS CLUB AT ANNUAL REDINK AWARDS TALENTED YOUNGSTERS GET TO PRESENT THEIR WORK BEFORE STALWARTS IN THE AD INDUSTRY INDIA RADIO FORUM 2018 RECOGNIZES EXCELLENCE IN RADIO INDUSTRY OFF THE CUFF HAS JOURNALIST ARUN SHOURIE IN CONVERSATION WITH SHEKHAR GUPTA IN MUMBAI IAA HOSTS FIRST INDIAA REGIONAL AWARDS (TELUGU) IN HYDERABAD BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS

To catch the 70s vibe, the set was lit up in blue and pink, with quick cuts and funky music which captures the fun aspects of Dogra and Shibani Dandekar effortlessly

Shujaat Bukhari, Editor of Rising Kashmir, was given police security after he was attacked in 2000; he was also abducted in 2006 but managed to escape

The agency conceptualized this one for brand Durex.