Every day we read data breach scandals by ad tech vendors. We are getting tracked every day with hidden cookies, and permissions we give unconsciously. According to Juniper[1] research, advertising losses were to reach $42 billion in 2019 and were predicted to be driven to reach $100 billion by 2023. Blockchain came into action to provide transparency while serving ads and paying for the real human interactions on the ads, not automated traffic.
Blockchain is emerging into the technology market these days and transforming the way we have been doing the online transactions lately. This technology is not only limited to the finance market, but it is also impacting the advertising and marketing industry too.
In this article, you’ll learn how blockchain is going to impact the digital advertising[2] supply chain in the year 2020.
People generally associate blockchain with bitcoin, a well-known cryptocurrency market but it’s not the same. Bitcoin is the name of a cryptocurrency developed through blockchain technology.
So, what exactly is blockchain?
Blockchain is the Distributed Ledger Technology (DLT) which contains the record of multiple distributed transactions between different people. It doesn’t require any central control, because the data is not located in any local server, it’s stored in a secured server distributed globally.
The application of blockchain in digital advertising is very significant. From the last few decades advertising firms using user’s personal data to understand their buying habits and designing campaigns by invading their personal space.
It offers a secure environment for the advertisers[3] and the publishers and allows them to connect the right audience and make safe transactions.
A look into what data says
The blockchain market is expected to reach over $23.3 billion by 2023[4] and $176 billion industry