BLOCKCHAIN IN AD TECH ERA

 

The blockchain is here to stay. This innovative technology has experimented a substantial growth in the last years.

Most people associate this technology with cryptocurrencies, but there’s a whole world beyond this.

One of its newest and most revolutionary applications is the advertising verification (adchain technology), that I’ll review later.

HOW BLOCKCHAIN WORKS

A blockchain is nothing more than a distributed database maintaining a list of growing ordered records (blocks) that is managed by a peer-to-peer network. Each block contains a time stamp that is linked to a previous one and it’s resistant to modification.

The initial studies about cryptographically secured chains were issued in the early 1990’s.

But, it was the mysterious Satoshi Nakamoto who carried out a practical implementation by creating Bitcoin cryptocurrency in 2008.

In the beginning of 2017, the Bitcoin blockchain reached the 100 GB of size.

The initial technology (focused on transactions) has evolved to create Blockchain 2.0 and Smart Contracts, as more features and applications are added to the original functionality.

Blockchain evolution

Blockchain size in  2107. Source: Blockchain.info

 

ADCHAIN IS BORN

The next ad tech revolution is here: adchain (based on Ethereum technology) can provide accuracy and transparency to the advertising process. Here’s how.

As very well stated by Ken Brooks, the CEO of MetaX, the main issue the advertisers are facing is not getting what they are paying for. And therefore, adchain technology is a game changer: it’s a utility designed to provide effective solutions to the existing challenges.

Another remarkable initiative is the New York Interactive Advertising Exchange (NYIAX), that will start operating by the end of 2017. The basis of this media trading platform is the Nasdaq framework (powered by blockchain technology)

CONCLUSIONS

We’re in the initial stages of a marketing revolution. The programmatic advertising will help to make the most of every budget.

Moreover, the golden age of the start-ups is here: companies like Augur and Block Chain Capital are changing the business for good, by shifting the paradigm from competition to collaboration.

 

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