Adledger, a consortium of ad companies in the digital media space, recently issued a free Blockchain and Advertising Special Report. The report identifies several major challenges confronting ad agencies in digital media, educates readers on blockchain technology and proposes use cases for early adopters. According to the report, consortium members see big brands moving millions of ad dollars away from digital media because of widespread fraud. Bots spoof legitimate websites to proliferate inauthentic ad clicks across the entire industry. These bots sap ad purchase value by increasing costs without ever getting the ad in front of the intended consumer. Adledger predicts that blockchain technology will trace the IP addresses of legitimate users, frustrate bot developers and restore advertiser confidence in the digital media space.
The Adledger report touts the recent work of two consortium members that use blockchain technology to enhance programmatic ad buys for digitally delivered television. Using this application, advertisers and networks get immediate feedback on where ads run, whether the viewer watches the entire ad and, if the ad is interactive, whether the viewer engages – all while stripping personally identifiable information to ensure data privacy. Meanwhile, outside the ad consortium, a U.S.- based software firm, Blockchain4Media, recently collaborated with R3 on a pilot to combat false ad engagement. Blockchain4Media believes that its combination of artificial intelligence, machine learning and blockchain controls will provide advertisers greater access to authentic consumer engagement.
Also this week, a major global consulting firm announced a new blockchain-based product for large organizations to track and manage their software license portfolio. The program relies on blockchain technology to increase the visibility of software license data while reducing the risks associated with unlicensed software use and failure to comply with use terms. The consultancy believes that its new application will provide a clearer view of software license distribution and utilization, potentially saving millions in operational costs.
Earlier in the month, another proof of concept for blockchain technology in the marine cargo insurance industry was announced. A partnership between a Japanese insurance company and a global data analytics firm verified that claim settlement drastically improved when using blockchain technology to promptly distribute, share and utilize marine insurance claim data across eight sites in Europe, the Americas and Asia.
To read more about this week's articles on enterprise blockchain use cases, see the following:
- All Four Major Ad Holding Companies Unite Around Blockchain
- Blockchain4Media Tackles Ad Fraud with Corda
- Accenture Puts Software License Management on a Blockchain Platform
- The Proof of Concept (PoC) of Marine Cargo Insurance Claims Using Blockchain Technology Was Completed
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