How Blockchain is disrupting Advertising Industry

Blockchain is gradually being adopted by more and more industries like Healthcare, supply chain and logistics, Education, Food, Entertainment, etc. This is due to the Blockchain features and the benefits it provide to a business in terms of decentralization, security, transparency and immutability.

We are all aware that for the success of any kind of business, marketing and advertising plays the most important role. The advertising industry is showing remarkable growth and it will continue to grow and become more significant with passing time.

As per the third edition of Dentsu Aegis’ DAN digital report 2019, Digital advertising is set to grow at 31.96 per cent CAGR, with the market set to expand to Rs. 24,920 crore. Pegged at Rs. 61,878 crore in 2018, the Indian advertising market is estimated to grow with a CAGR of 10.62 per cent till 2021, to reach a market size of ₹85,250 crore. Digital advertising currently contributes 17 per cent of total ad spends, it is expected to contribute to 21 per cent by the next year and 29 per cent by 2021.

Digital advertising is preferred the most nowadays as it is the most effective platform to get traffic and communicate with the consumers. Marketers are doing huge amount of investments in advertising to market their products and create awareness. But where there is immense amount of money, fraudsters are bound to follow.

Companies invests to get certain levels of engagement through digital advertising. But being online means that there are numerous ways in which the results can be faked and fraudulently submitted. Ad farms, pixel stuffing, botnets, ad stacking are some of the ways used by fraudsters to exploit a system.

Advertising is becoming insecure due to lack of transparency and it could result in huge loss for a business.

Fraudulent activities occurs due to lack of transparency. But Blockchain has the potential to reduce frauds and increase the security and trust. Let’s see how.

Blockchain can eliminate the middleman. Advertisers have no choice rather than to trust the Ad publishers who have the right amount of traffic in their site. But the results provided by these publishers can be modified and fake. This leaves the power in the hands of the publisher. With Blockchain the dependency on publisher will be eliminated. The advertisers can directly reach its customers.

Accurate and immutable data will allow advertisers to get the actual statistics and focus on their potential customers.

Blockchain with its decentralized ledger system can ensure that the advertisers are only charged for genuine clicks on their websites.

Brand equity and accountability Marketing has to ensure that the end consumers trust their products and buy it with confidence. Blockchain can also ensure that the company has some CSR activities. This can be done by smart contracts wherein promises are made public and the company is held accountable for its statements.

To conclude, blockchain technology can offer greater efficiency, reliability and high-quality data for processing the action.

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