Digital advertising is an area ripe for blockchain disruption.
Just how bad is it right now?
Marc Pritchard, the CMO of Procter & Gamble, recently expressed his frustration at the two digital add giants, Facebook and Google.
Procter & Gamble is the biggest advertising spender in the world.
It’s estimated Facebook and Google control close to 65% of the digital advertising market. According to criticisms, both lack transparency and have been slow to respond to industry needs.
One potential solution is adChain.
It’s an open protocol built on Ethereum for the digital advertising industry built by MetaX and ConsenSys. Its token is the adToken (ADT).
According to adChain these are some of the existing problems in digital advertising today:
- The inability for parties in a supply chain to share information before the close of a 30 to 60 day settlement cycle defined by paper contracts.
- Fraud by bots is a $10 billion plus problem in ad tech annually.
- The current industry standard of measurement, CPM (cost per mille, ie. cost per 1,000 impressions) encourages fraud.
- Generally at least six, and up to ten or more, parties are involved in a digital ad transaction.
- Current ad exchanges are opaque and fragmented.
- The current methods of tracking digital advertising increase page loading times and hurt the user experience.
adChain aims to have the same kind of vertically integrated stack like FB and GOOG, but in a decentralized and open way.
The adChain Registry is a smart contract on the Ethereum blockchain, which keeps a cryptographically secure record of publisher domain names. This serves as an identity mechanism and a rich source of premium publisher domains.
It also incentivizes against CPM. adToken holders have only one goal, to vote in reputable publishers and vote out fraudulent ones.
adTokens are the native token of the adChain protocol and are essential to the utility of the adChain Registry. You can read how publishers and adToken holders use the tokens here.
A Registry of reputable publishers is the first goal of adChain. In the future it wants to build dApps on adChain such as ones for bot detection, reputation scores, automated payment delivery, and data management platforms.
adChain finished its ICO on June 26. ADT tokens now trade on Bittrex.
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