Victor Ugochukwu · Dec 14, 2020 . 5min read
Blockchain Technology to Act as Saviour From Digital Ad Frauds
Blockchain technology has been gradually applied to solve inefficiencies in the digital advertising industry and overcome digital Ad frauds.
By Komal Joshi · Aug 24, 2020 . 7min read
Developing fake ad traffic, utilizing content-scraping websites or other malpractices come under Digital Ad Fraud. It also includes launching ads outside of a user’s view, creating other fictitious mechanisms for delivering ads that consumers do not view. It estimates that the marketers are going to waste at least $7 billion on online ads. The expected audience does not see these due to fake web traffic caused by bots. Statista’s anticipation forsees that this number will grow to $335.5 billion by 2020
Increasing Digital Ad Fraud
A case when various brands put a stop to their YouTube advertising following a report from The Times London that emphasized: “how their ads were showing up against extremist content posted on the video-sharing site.” There is a crazy amount of money included. Thus, malicious activities are always sure to follow.
The incidents of digital ad fraud began conferring up one after another. However, some advertisers recovered the money (Google gave bigger refunds to advertisers affected by ad fraud). However, they must control the threat.
Fraudsters utilize several methods to simulate human behaviour, including social media access, filling out forms, and cursor movements. Ad fraud is not restricted to display ads. It also includes premium videos because of the higher returns they bring to the table. In 2017, Uber sued Dentsu’s Fetch Media for fraud in a rare legal offensive. The lawsuit cited the mobile agency of distorting the effectiveness of mobile ads. The agency assented to have sold the rideshare company ‘fake’ clicks.
Blockchain Solutions can Deter Advertising Fraud.
Blockchain has been in the spotlight since it came into existence. Its potential for remodelling business has drawn promoters in every vertical. To solve inefficiencies in the digital advertising industry, developers are using Blockchain. For instance, AdsDax, a self-serve advertising platform, utilizes Blockchain to collaborate with the various entities involved in the advertising sector.
Recently, there is development of new blockchain based solutions. They intend to solve the continuous difficulties facing digital advertising. For instance, on Aug. 20, MadNetwork, a custom-built blockchain for enterprises in the advertisement tech space, announced its product roadmap.
Blockchain has been effectively in various sectors like agriculture, health, recruitment etc. Earlier we reported on how USDA adopts Blockchain in Agricultural industry, Japan in Recruitment services and many more. With Advertising sector, Blockchain holds great potential.
Summing up, Blockchain’s potential to set a severe dent in ad fraud have stimulated digital marketers’ attention. It’s still early days for Blockchain as a technology, but advertisers are conscious of it even if they aren’t yet sure how it will be deployed in their industry.
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