During the last couple of months, the popularity of blockchain technology has grown tremendously, with numerous companies and financial institutions experimenting with the tech, and implementing blockchain-based solutions. A new exciting idea has just been shared with the market, which is bound to take online digital advertising to the next level, hence solving all of the transparency problems that the niche currently has.
With this in mind, an adtech company known by the name of MetaX, has just launched the adchain, which is basically a blockchain-based ledger, meant to track digital pieces on the internet, in order to help determine who saw it, the conversion rates, how the budget was spent on the chain, but also who was most interested in the piece.
For those who do not know, until know, blockchain was best known in the online environment due to its uses on powering up bitcoin, yet the technology can be used for numerous other purposes as well.
The adchain network would also help determine whether impressions are real, thus putting an end to ad viewing campaigns that scam networks out of millions of dollars on a yearly basis. With this in mind, once a buyer buys an impression, it will be encrypted within a block, and then forwarded to all of the chain’s participants. Once this happens, the impression will be verified by the publisher, and finally added to the ledger in question, where everyone can view the event in question, and then approve it.
Combining this technology with the emerging smart contracts powered by Ethereum could change trust forever on the internet, thus providing a way to verify all forms of transactions, regardless of whether they are monetary, or consist of simply clicking a button with ease. This will then lead to better statistics, a better understanding of the marketplace for ad campaigns, and numerous other features which will benefit both the hosts of ad campaigns, but also consumers, with smarter, and better-integrated ads that generate real impressions.
Based on everything that has been outlined so far, what do you personally think about using the blockchain network to change up the digital advertising market? Let us know your thoughts in the comment section below.