Blockchain Technology is the new topic of discussion for the people in the market. The blockchain is a digital, distributed and decentralized ledger. It underlies most of the virtual currencies for processing the transactions without the necessity for a financial intermediary like a bank and other financial institutions. Basically, it is a mode of transmitting funds and fetching information.
The blockchain is a perception for the professional who believes that world needs a new phase of the transaction which doesn’t require the assistance of the third party. In the matter of online transaction, Blockchain is been used in many activities such as transferring money, real-time transactions and so on.
Forbes has asked the members of the Forbes Agency Council about Blockchain. They believe that Blockchain is potentially utilized as a solution for ad fraud. It gives affirmation on skepticism which many entrepreneurs have on Blockchain technology.
Russ Williams, CEO of Archer Malmo. It is a full-service digital agency
The blockchain is the key to Anonymity: – In the world of the advertising industry, Blockchain revolves around Facebook, Google, and Amazon under a closed system. The results are featured by the ad-serving platforms. These don’t appear in real time and even lack transparency. Basically, it enhances the feasibility of ad fraud. The Blockchain is a secure distributed immutable ledger where the data value can be stored. Williams says that he believes that this could help to resolve the necessity for anonymity and trust by observing an audit trail of the ad. It also provides real-time information about the ads people to consume, receive and the way they come across the channels.
KJ Prince, Founder of Insurance Engine. This firm helps to enhance your insurance agency or brokerage with technology tools and custom designs.
Blockchain can solve Ad Fraud: – It has trustless permissionless and decentralized. In the current market, Ad Fraud is prevalent due to the opaque and complex network of publishers, platforms, and agencies. The Blockchain directed digital ad economy gives buyers and purchase ability to verify the placement and glimpse of each ad impression.
Ashley Walters, Vice President of Empower MediaMarketing.
The blockchain is better used as an open Ledger: – Blockchain craves a participation from all parties which means that by users, browsers and websites. The publishers have acknowledged anticipating and agreeing on a standard. It is not extensible to impression-level volume but will be solved as a computing power which grows over a time. For the purpose of ad fraud, blockchain is better utilized as an open ledger of ad purchases.
D Blair, President, and director of Mad Men Marketing. It is a major advertising agency.
Blockchain can be a step forward but we’re still not there: – The aspect of Blockchain technology isn’t new and it has majorities of nodes coming to the same conclusion and makes a de facto decision on what to trust as being tempting. Meanwhile, he is not sure that current technology can figure out between people and robots. His thought is that yes, Blockchain technology has the capacity to draw a de facto conclusion. It can ascertain between people and robots. Basically, he defines digital trust and assumes one moderator to be corrupted but it has a program to plan for the Blockchain technology.
Ahmad Kareh, Managing Partner of Twistlab marketing
Blockchain offers additional Security Layers: – Several people have raised doubts concerning the safety of blockchain. The software is good for the humans who programmed it. In the real world, the additional signatures and layers of security Blockchain avow for a safer platform. The Blockchain isn’t the answer to ad fraud; it is can program for the decentralized signatures and be incorporated for the same.
Jeremy Fain, CEO, and Co-Founder of Cognitiv
The Blockchain doesn’t appear to be the answer: – Ad Fraud is becoming a practical step to use advanced machine learning. It seeks a method to encounter it effectively at a point. When bots mimic real people by comprising their computers, monitoring their real patterns, it copies them for a fraud, Blockchain’s technology and does not appear to offer an answer.
Forbes Agency Council invites people from different crypto and Blockchain communities. It aims to develop their relationship with respect to media strategy, creative and advertising agencies. These are different views on the Blockchain technology.