EnvisionX CEO & Co-Founder Zheng Zhang, recently wrote for Digital Marketing Magazine to address the question "Could Blockchain Fix the Flaws in Programmatic Advertising?" In the article, he discusses the issues with programmatic and the future of advertising with blockchain technology introduced and what this means.
Zhang opens by observing how programmatic ad buying, an algorithm-heavy piece of software to purchase advertising online, as opposed to the traditional process that involved human negotiations and often paper-based manual insertion orders, is not a new phenomenon. With the promise of making a brand’s ads more targeted and relevant to their specific audience, spend on programmatic ads has grown from $5 billion in 2012 to $39bn in 2016.
He then goes on to discuss the issues in the programmatic industry such as lack of transparency, fraud and currency exchange rate complications before elaborating more on the blockchain and how it can redefine an integrity to our industry, help combat fraud and work for the greater good of the advertising industry. In addition, how it will ensure that the adverts placed by the algorithms are being seen by real people so advertisers are getting the best from their marketing budget and can confidently report on the validity of their advertising campaigns.
What next for blockchain and advertising?
"I predict that blockchain technology will become deeply ingrained in how we undertake digital ad buying in the future. It will increase transparency by allowing advertisers to see exactly what their spend is and when and where their campaign is delivered. It will become instrumental to policing programmatic advertising algorithms, thus providing peace of mind to advertisers who are already feeling the pinch of shrinking budgets." - Zheng Zhang, CEO and Co-Founder of EnvisionX
If you have any questions or would like to find out more then contact the EnvisionX team.