The Benefits of Blockchain are Becoming Easier to See
If late 2017 and early 2018 was blockchains coming out party, the tail end of this year was its slow retreat back home. The general public was introduced to the technology and its future implications, but present-day solutions didn’t match up to the hype. Entering 2019, we’ll see the first major use cases present themselves, as consumers begin a slow transition to a decentralized future.
While the headlines may be dominated with the rise and fall of the price of Bitcoin and various other cryptocurrencies, it’s the work being done behind the scenes that will truly have the greatest impact. Developers are hard at work using blockchain-based technology to offer enhanced security & trust, transparency, and dependability through various forms of value transfer.
Ab InBev began using this technology in 2018 to measure the effectiveness of their digital advertising. By utilizing a public ledger, they were able to assess the cost discrepancies between their media plan and the actual digital inventory that was purchased. In many cases, this data is hidden from advertisers, providing avenues of loss for many brands. In this case, Ab-Inbev was able to watch in parallel what transactions were written in the ledger, and what they were seeing in the DSP.
Entering into 2019, there are a few ways for consumer facing brands to use blockchain technology to their benefit. Digital media buying is an easy way to gain back transparency over the ad buying process, as brands will begin to hold their partners accountable for their media’s performance. Additionally, marketers should keep tabs on various start-ups looking to disrupt the industry.
For example, the Basic Attention Token (BAT), a part of a decentralized ad-exchange network, rewards users for viewing ads online. While the advertiser and publisher exchange a lion’s share of the transaction, the user is rewarded for the attention that they give to advertisers – a reward not seen in previous digital advertising transactions.