As mentioned earlier by the Marvin Liao, the partner of 500 startups, blockchain technology is going to disrupt the advertising industry first. Since the introduction of cryptocurrency and the blockchain technology, the advertising industry has been among the most popular industry for the blockchain disruption. When it comes to advertisements Google has surveyed that more than half of the ad viewers were bots.
This advertising and marketing industry is among the most flawed industries globally. As per the increasing fraud in this industry, the consumer is becoming the victim unintentionally. Prior to discussing the most promising advertising blockchain initiatives, one should note that these fraudulent bot ad viewers actually make advertisers lose money.
Some Prominent Advertising Blockchain Initiatives Today
Listed below are the promising advertising blockchain initiatives taken globally –
First is the IAB Blockchain | IAB that is Interactive Advertising Bureau is one of the new blockchain initiatives taken towards the advertisement industry. Their ICO is based on the Video advertising and was launched in March 2018. The whole concentration of the ICO project is to prevent the frauds in the industry and improve the payment methods while doing so.
Second is the C3C Network | This is among the advertisement blockchain initiatives. The purpose of this initiative is to provide an ecosystem for the all the parties involved in an advertising value chain right from the creative team to the consumer chain. They are focusing on building a decentralized platform with the direct reward point for all the content creators by the consumers. In this platform, consumers will hold the control and visibility of their own data.
The entire project of C3C is based on cutting down the middleman and allow the advertisers to connect directly with the customers and consumers.
The Third is the AdBit Blockchain | This blockchain project is an initiative taken to connect the media providers with the traditional media concept and buyers. This is a smart contract based project. The goal of this blockchain project is to improve the transparency, prevent fraud and increase trackability.
Conclusion | Mentioned above are some of the initiatives taken to improve the operation of the advertising and marketing industry using the new blockchain technology. This is the same blockchain technology that is being used in almost every field. So, let us see if this technology is going to revolutionize the advertisement and marketing industry or not?