Blockchain technology cannot be ignored, whether the public loves it or hates it. Even having a discussion at Cannes about it is enough to incite a screaming match among the truly passionate. However, many consumers wonder of all of the hype has the potential to support various industries, bringing them the transparency and protection from fraud that every business needs.
Unsurprisingly, there are two sides to this metaphorical coin – those that support blockchain technology and those that done. However, it is impossible to truly say who is right, because the technology is still so new. It is no different from remaining conscious of a new computer system or an investment opportunity.
The majority of projects that are under the Never Stop Marketing’s Blockchain MarTech Landscape are still in their infancy, working on their ecosystem and adding to their technology. Many companies have already put their trust in blockchain technology but are still working behind the scenes with their trading. Presently, 135 MarTech companies say that they use blockchain, while 35% of those companies are only working on Programmatic Media and AdTech for now.
There are few concerns that Blockchain AdTech companies seem to have, each focusing on a different area of blockchain technology.
Transparency Within The Media Supply Chain
CEO Marc Pritchard of P&G said,
“We have a media supply chain that is murky at best and fraudulent at worst. We need to clean it up and invest the time and money we save into better advertising to drive growth.”
He believes that some of the big challenges in this area include fraud and standards compliance.
In a study in 2018 by Juniper Research, it was predicted that there will be a $19 billion loss for advertisers, and that is just including fraud. Less than 40% of digital media even makes it to the working stage, which means that a marketer’s purchase of $1 million will have 30% broken off to contribute to the AdTech tax.
There are multiple solutions offered in this type of marketplace, which help the brand to keep up with their transparency. Those solutions include:
- IBM Blockchain, which has basic financial recon options
- Papyrus, which connects the various parties within the blockchain network to support the digital advertising market
- Lucidity, which is an advertising protocol
- AdBank, which is a platform that helps advertisers and publishers interact
- Adshares, which lets the users trade through the platform directly with their own cryptocurrency
There is a certain speed required for processing programmatic media. One program that helps with this concern is Ternio, which can handle the demands of a high QPS.
Even with the desire to become more transparent, there is an unhealthy amount of fraud in the industry, which is why there are so many companies that dedicate their time to fixing it. Some of those companies are?
- XCHNG, which uses smart contracts to manage any potential fraud of their unified blockchain network
- Rebel AI, which highlights the importance of protecting someone’s identity
- MetaX, which created a DApp to find legitimate websites that use advertisements to support them
- AdEx, which allows advertisers to directly interact with publishers
- Lucidity, which mainly reduces fraud and promotes transparency
With the recent scandals, like with Facebook and GDPR, it is clear that marketing data needs better protection, which is necessary for both individuals and corporations at this point. However, the marketers are in charge of analyzing the challenges of their platforms, specifically regarding privacy.
Some of the available options to fix this issue currently include:
- MadNetwork, which uses an AI-powered device profiles to pull ads that relate to their protocols
- Datawallet, which maintains identifying information about the user on a separate device
- Killi, which hosts a first-party user database that requires users to opt-in to the services, though they also have control on who they release information to
- SRAX’s BIGtoken, which is an opportunity for buying, selling, and validating data
- Civic, which secures personal information with the use of the Civic Secure ID on the app
Payments And Settlements
One of the biggest problems and sources of contempt are payment terms, which is primarily concerning for those who act as the middle man and those that publish.
According to Rubicon Project CEO Michael Barrett, having long payment terms,
“are a tax on the industry for technology companies that are responsible for programmatic transactions.”
He continued, saying,
“For brands that are ready to create more profitable supply chain, offering better payment terms could be a huge incentive for wary technology companies to become more open with their tactics and streamline their business model, saving brands millions in the process.”
Some of these brands are:
- Amino Pay, which reduces fraud and provides transparency of payments
- NYIAX, which was built with the Nasdaq as a consideration for trading media future contacts within a blockchain ledger
- FusionSeven, which automatically uses a protocol for supply chain financial reconciliation to ensure better trust in smart contracts
- AdCoin, for micropayments
Making Customers The Priority
There are a few different coupons and rebates, but consumers are not typically provided with any kind of incentives for their participation. However, Token Economics allows consumers to receive tokens for the different activities they participate in on the blockchain. There are a few companies that promote this option from their platform, like:
- Basic Attention Token (Brave), which has no advertisements, and allows users to utilize their tokens as a method of exchanging value
- Presearch, which is a search engine that awards users tokens for any participation involving their platform
- Kind Ads, which rewards users with tokens in exchange for releasing their data
Since it is so early in the industry, consumers and investors should see many more of these types of platforms arise, providing an opportunity to earn tokens, rather than just buying them . The goal is to earn the trust of contributors and investors, though the key to attracting business will be clarity.
Marketers have to make the message clear to consumers about the problem they aim to solve. Soon, the Never Stop Marketing campaign will publish reviews for potential investors and consumers. This review will include a rating system that is applied to every solution provider, which could put a lot of companies at risk in the long run.