Interactive Advertising Bureau’s (IAB) Blockchain For Video Advertising
Blockchain is an essential part of cryptocurrency, since it maintains that transparent communication between the platforms and the investors. The whole process that a blockchain is used is fairly straightforward, following this pattern:
- The buyer either requests for a transaction to take place, or they make a purchase that they want to apply blockchain coins to.
- The transaction appears as a “block” in the chain.
- The block is displayed in a peer-to-peer network via computer access.
- The network validates the buyer’s privileges to apply the coins.
- The transaction becomes a permanent block in the chain to show the transaction taking place.
- Payment is submitted, and the seller completes the transaction for the buyer.
With video advertising, experts say that the blockchain affects more than just the financial part of any industry. Advertising executives have quite a new world at their fingertips, since this ledger is immutable and transparent in nature. By using blockchain, any company can improve efficiency with fewer costs and complete eradication of fraud from all angles.
The year 2018 is expected to launch many blockchain applications through video advertising, which includes linear television. If the few risks can be managed and eliminated, the following year could bring about a broader application for blockchain. Consumers and investors should expect to see many beta tests in that year with both new entrants to the crypto world and more traditional forms of media.