Blockchain4Media Partners with R3 Corda Blockchain to Tackle Advertising Fraud
As blockchain applications are explored, there is growing excitement as to whether the technology has the potential to fight ad-fraud. It is evident that the digital advertising industry is ripe for solution and blockchain could solve the widespread and growing problem that is ad-fraud.
One solution being touted and underpins blockchain technology is the new partnership between Blokchain4Media and enterprise software company R3. Blockchain4Media, also a software developer, is exploring the possibility of exploring innovative solutions that will help prevent invalid and fraudulent ad traffic. The resolution will combine R3's Corda blockchain, artificial intelligence (AI) and machine learning to detect non-human bot traffic engagement with ads.
LuRae Lumpkin, Chief Official of Blockchain4Media, explains the firm's new position as an attempt to improve the defense against the growing disruption of ad-fraud. He says:
“The speed of transactions on Corda is a key criterion in the technology selection process, and will enable us (Blockchain4Media) to help prevent fraud and put control back into the hands of the Media buyers and the brands they serve.”
Blockchain and Ad-fraud
It is becoming increasingly clear that blockchain has important attributes that can help counter ad fraud. With its trustless, decentralized and permissionless nature, ad buyers or sellers can verify the viewability and placement of each ad impression.
Furthermore, successful application of the Blockchain4Media and R3's Corda blockchain would provide digital advertisers and the brands an unbiased interMediary to validate the consumer's reception to the ads. According to the agreement, this would see Blockchain4Media provide third-party validation services with a viewable and immutable inventory.
Corda's enterprise solution would form the foundation of the new ad economy. CEO of R3 David E. Rutter was on record stating how harnessing the power of blockchain was essential to overcoming challenges faced by advertisers.
He comments: “Corda's unique design will enable Blockchain4Media to provide digital advertisers and likewise brands, with access to authentic consumer engagement.”
What this implies
There is so much at stake in matters of digital ad fraud, and many in the industry are eager to explore the potential of blockchain technology becoming a useful tool in efforts to address it.
Unfortunately, the World Federation of Advertisers indicates only 3% of advertisers have made it a point to understand blockchain's advantages in reducing ad-fraud. Of course, Blockchain4Media joins these firms seeking to adopt blockchain in a way that will help brands optimize their digital ad supply chain and profits.
In the end, the exciting collaboration of technologies (blockchain, AI and machine learning) could present programmatic advanced ad campaigns.
Blockchain4Media is a digital software company that uses AI, blockchain and machine learning to validate digital ad engagement for advertisers and brands across the US and Europe. The firm uses digital advertising expertise and custom software to detect real and bot-like ad engagements.
R3 is a software consortium providing the Corda blockchain, the open source project designed for businesses. With Corda's smart contract technology, interested parties would build an interoperable ad network that transacts in strict privacy.