It is evident that a significant part of our digital advertising is facing enormous internet and data fraud. And with data being the lifeblood, which means our advertising ecosystem is mostly inefficient. From measuring the target market, players to acquire and the amount of customer feedback, there is a growing demand to make good use of data in the advertising process. However, the inefficiencies often underplay the significant potential we can gain in digital advertising if we only implement a secure and sustainable measure.
Not surprisingly, some of the world leading corporates are finding a way to implement blockchain, the technology behind Bitcoin and cryptocurrency. Since its inception, it has shown its attractiveness for application in numerous industries, and it is becoming useful in addressing the advertising challenges. For more realistic use cases, the following is an example of the efforts of several companies into using the technology for our online advertising needs
What Is AdLedger?
AdLedger is a new advertising consortium group made of leading tech companies which aim to explore the growing use of blockchain technology in online advertising. The consortium runs on a volunteer contribution system that will go into forming technical resources, expertise, and infrastructure on the use of blockchain-based online advertising. Ultimately, AdLedger hopes to establish an ecosystem that will support advertisers and publishers with the ability to control the digital data assets and more improved ad targeting options. Consequently, the project will reduce the margins and ultimately the high cost associated with advertising intermediaries.
AdLedger Digital Media Ad Buying Blockchain Membership
The lead members of AdLedger include:
- Futures Media
- IAB Tech Lab
- The Telegraph
What Will AdLedger Work To Solve?
As part of joining AdLedger, each member will have the experience of signing up for quarterly person meetings or join the working groups that meet up once a month. The meet-ups will feature discussions on how to shape the future of online advertising through blockchain technology. The goal will be to get member companies not to fall behind on this evolution. The AdLedger consortium further plans to roll out projects which will feature proof of concept and will center on advertising campaign reconciliation through the shared ledger concept for faster outcomes. Additionally, the discussions will seek to find a solution for companies looking to comply with GDPR legislation.
Is Membership Open To Those Interested?
The eligibility for membership runs on criteria that rank members into three categories with each having different application and membership fees.
- Executive member of the corporate and profit-oriented business, their interest in digital advertising and blockchain will be under this membership category.
- General member-this will feature the publishers, brands and advertising agencies
- Associate member-for any entity that is not eligible to become a General member, they can still qualify through the associate membership.
There are plenty of reasons that could make an entity or individual to join the AdLedger Consortium. If your organization can meet the membership fees, the blockchain group could have an impacting effecting on the overall advertising structure of your business. While the potential to work with some of the leading tech giants is the number one priority, ultimately finding blockchain solutions for our online advertising is the ultimate aim that you could stand to benefit.