Blockchain technology is changing the face of all the industries; there are so many starts up surfacing related to the blockchain technology. But sill the technology is waiting for its turn to get into advertising industry. A survey conducted recently showed shocking results, 300 agencies took part in the survey and almost only 11 percent of them admitted using blockchain in their organisation.
Leaders in the industry are waiting for “the perfect” blockchain application that can put an end to the entire challenges faced in today’s industry. This can also be a reason for the wait in the industry. Among all the inherent qualities of the blockchain, immutability stands top on the dais; this can be used for identifying solutions which intersect with many challenges faced today.
A digital ledger that cannot be changed after an entry is made will allow the users to check on the entered information at any point of time with precision, even on the lowest levels, immutability the most admired quality of blockchain can make the data entered both frictionless and trustworthy. If the entry of data increases from the advertiser on the advertiser permission blockchain then it will be a simple task for them to switch agencies and get along with a wider network. The technology that is expanding today can change the world of tomorrow if implemented with a perfect
Blockchain and Ad-tech
Immutability is an asset for the advertising industry, mainly for ad-tech tax. Ad-tech tax is generally two separate blocks; a fee that is not mentioned and an uncontrolled spending. The present system followed by the advertising industry has no means of finding the actual cost. The mentioned costs will only be available after the completion of the project. If it can be identified beforehand then the buyers can adjust the system to improve the operating system and form a perfect structure in the company’s operations.
To keep the excess spending in check some firms have implemented cryptographic proof embedded within the blockchain so that the identity of the publisher can be verified and domain spoofing can be controlled ultimately. This can lead not only to the reduction in spending cost but also the uncertainty surrounding the delivery can also be addressed.
Blockchain and GDPR compliance
The technology should also comply with the GDPR regulations, blockchain offers a trusted method where the past actions can be reviewed and the actions in progress can be checked, the immutable property of blockchain allows vendors and sub-vendors to maintain the separate supply chain. The transparency of the system will immediately notify the concerned parties if any laws are violated so the issues can be addressed as early as possible, in most cases the issue can be addressed as soon as they pop up.The immutable ledger allows users to track back the steps in the public ledger and this will help to maintain a perfect system of data ownership.
Blockchain today is like the internet in 1998, people know the name but the potential of blockchain technology is yet to be unleashed.
A company will evolve and the blockchain technology will make things a lot easier and efficient for the future generation to come. Few decades down the line we may laugh at the present technology that we are using today, thank you blockchain.