The latest news from the digital marketing world that has rocked the industry and is aimed at revolutionizing digital marketing through the use of blockchain technology is Verasity’s news about joining the XCHNG partner program created by Kochava Labs SEZC (“Kochava).
The video platform giant (Verasity) partner to create a revolutionary digital advertising platform that is powered by blockchain technology and is being developed to create ledgers for the sale and purchase of digital ads in a verifiable format, as well as to ensure insertion orders (IOs)-which is better known as advertising contracts. The partnership is said to make the reduction of ad fraud a reality as advertisers who make use of the platform would enjoy rather impressive rates of ad fraud reduction and transparent audience metrics.
A Digital Marketing Solution Designed to Tackle Next Generation Challenges
Verasity’s participation in OnXCHNG, that is the XCHNG partner program (the program was set in place by the Kochava subsidiary organization focused on research and development) is worthy of commendation as the program focuses on creating the revolutionary XCHNG platform based on blockchain technology, insertion orders, and verifiable sales and purchase ledger for digital ads.
This product would seamlessly incorporate Verasity's Proof-of-View (PoV) technology that has been enhanced by blockchain into the XCHNG platform, making it possible to reduce ad fraud significantly.
While traditional programmatic ad tech ecosystems focus effort on resolving wastage in advertising and trust issues, the XCHNG partner program with the significant contribution of Verasity would focus on developing technologies for the media ecosystem users, delivering decentralized frameworks that offer fixed transparent data. The end goal is simple, to maximize ad dollar spending and efficiency.
The XCHNG Platform
XCHNG is a framework designed for the digital marketing ecosystem, it makes use of open, unified blockchain technology, originally developed and designed by Kochava Labs SEZC. The framework is to be designed around the Ricardian Smart Contract offering an open blockchain implementation of transactional history continuously. This makes the provision of utilities necessary for the maximization of IO lifecycle possible.
The framework also allows audience activation and related targeting, improving on ad operations transparency and spending efficiency, creating the next-generation recording system for participants, while providing an opportunity for the framework to tokenized (this allows for the standardization of ad value and invariably places digital advertising on a class of its own).
Kochava Inc’s Forte and Contribution
Kochava Inc’s contribution is a holistic and unbiased analytical platform that plans, engages, targets and optimizes media spending, the platform offered by Kochava for mobile and non-mobile devices connected to it allows all advertisers to successfully target campaigns and measure audience engagement with greater levels of precision and accuracy through a wide global coverage and potent features. Kochava Inc. is known widely for creating rather powerful tools for measuring large and very sophisticated ad campaigns.
Verasity Forte and Contribution
As the next-generation video sharing platform, Verasity offers unique contributions to the partnership, their contributions would be to provide accurate and secure metrics via all views. Their patent-pending Proof-of-View (POV™) blockchain technology would make it possible to prevent fake views, stop internet robots and prevent fraudulent activities from taking place, also, establishing value exchange directly between those who create content, advertisers, and actual viewers.
While the potential risks pile high, both parties are optimistic and driven about the project.