Ad-tech provider Mediaocean will soon begin deploying the technology that underpins decentralised cryptocurrencies as a solution in the fight for ad transparency.
In this video interview with Beet.TV, company CEO Bill Wise says Mediaocean will be making a blockchain announcement in the next few months, though initial activity in entered on discussions with potential partners.
Whilst blockchain is best known as the technology infrastructure which powers the likes of Bitcoin, over the last year businesses of all kinds have explored the potential it offers to record every action and modification in a distributed ledger.
For advertising buyers and sellers, who, over the last couple of years, have been plagued by the creeping realisation that much of their money is siphoned off by intermediary platforms without full disclosure, that could be mana from heaven – blockchain shine a spotlight on every fraction of a cent that might be taken by links in the chain.
“For every dollar a marketer spends, anywhere from 30, 40 cents is going to the end consumer or publisher, which means that there is 60, 70 cents going to the middle in ad-tech tax and data costs,” Wise says. “I do believe blockchain can help solve major issues as it relates to supply chain management, and transparency.”
So, what would a blockchain for ad-tech look like? Wise sees “an immutable, distributed ledger that starts with an agency getting authorization from their client to spend media on their behalf”. Then “all of that flow that goes through, and including the entire supply chain to the end publishers, and being able to measure all that”.
Several vendors out there have already gone to market with bold claims for blockchain in advertising. Mediaocean appears to be taken a cautious and consensual approach.
Wise is convinced: “We can provide that level of transparency by converting our databases into a block chain.” But he says: “We’re talking to a lot of partners right now. We have a working demo. We’re talking to major marketers and their agencies about creating a consortium pilot, which we’re really excited about.”
This video was produced at the Advanced Advertising Summit in New York. Please find more videos on this page from the Beet.TV series presented by 4C.
