It might still be early days for digital currency, reports Adweek, “but marketers are increasingly piggybacking on the rise of tender like bitcoin and applying those concepts to digital advertising. In a nutshell, they’re seeking a more transparent and efficient way of running online marketplaces.

“Tech companies, publishers and media buyers have begun experimenting with marketplaces built on blockchain—a digital ledger that records transactions using encryption for security and accountability. And although it’s still uncertain whether blockchain is a game changer or a pipe dream, some say the system has the potential to create the kind of transparency that advertising desperately needs by cutting off bot traffic and protecting brands from unsavory content.

“Industry organizations such as the Interactive Advertising Bureau’s Tech Laband the Data & Marketing Association are taking notice. In fact, the IAB is quietly developing a blockchain working group to explore how advertisers can use the technology. And while the names of the companies involved have not yet been divulged, the initiative illustrates the kind of interest that industry players have in the emerging technology.

““It is no longer the year of data—now it is the year of blockchain,” said Alanna Gombert, outgoing general manager of IAB Tech Lab.”

(Datafloq image)

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