Blockchain, The Promising Latest Technology For Digital Advertising

New technologies keep coming, and they are often less substance than the hyped bubble. But few of them have the potential to make a paradigm shifting change. The blockchain is one of them. Starting long ago as the backbone technology behind Bitcoin digital currency Blockchain is now being described as the next technology frontier to redefine security for many digital transactions and critical exchange of business data. Some of the latest fields, like digital advertising which is exposed to a lot of fraudulent activities, have greatly benefited with the Blockchain strengthening their security. Later we will see in detail how many digital advertising endeavours have benefited from Blockchain security settings. Basically, the term blockchain was coined to refer to blocks of encrypted data used for a chain of transactions. The first successful commercial instance of such encrypted data used for transactions is Bitcoin for which the Blockchain technology was born. From then on, this technology has continued to gain popularity and now the role of Blockchain is no longer limited to the Bitcoin. It is being used for a multitude of purposes across industries to secure digital transaction and exchange of data.

Almost suddenly for some, Blockchain has been adopted by media and advertising as well. The blockchain is the technology behind digital currency or crypto currency like Bitcoin. It basically refers to blocks of encrypted data, which in a chain of transactions, allow optimum security measures to prevent alteration, tampering and removal of data. How does it achieve this, Well, it works as an open database that adds every subsequent exchange or transaction data while always preventing any change or tampering to the data. On the one hand, it is completely open and accessible to all, on the other hand, it is absolutely tamper proof. Suddenly Blockchain has become the single most important technology formed and digital advertising agencies to prevent all kinds of fraudulent transactions. To understand how such murky activities eat away a large portion of the revenue we need to have a look at some recent statistics. Industry experts suggest that the fraud represented by this finding of Methbot can be described just as the tip of an iceberg, as the real gravity of the situation is much bigger than this. Financial services and banks are reasonably the first en-masse adopters of Blockchain technology.

For mobile banking to grow big and boost access to banking in a never before the way the security threats associated with mobility needs to be addressed, and Blockchain seems irreplaceable for this. In some booming developing economies like India and China where the huge population and corresponding massive scale of the transaction need more transparency and fraud control, the role of Blockchain in many industries seems irreplaceable in the time to come. The Indian app developers can really find Blockchain as the next technology on the horizon that they need to brush up with. How is Blockchain used in media and advertising, As of now, the Blockchain technology has been used in digital media and advertising in a whole array of ways. Let us have a look at few of them. Offering instant remuneration and rewards to the media contributors with optimum transparency is always a serious consideration, and in that respect, Blockchain based content distribution platforms can really add transparency and efficiency to the process. For example, Decent, a content distribution system which uses Blockchain, now allows distributing contents and getting paid in almost real time thanks to its new rewarding mechanism.

As of now controlling fraudulent activities with transparent sharing of data in real time is the ingest advantage of Blockchain technology for digital media and advertising. Brands spending money on ad publishers often have a hard time when it is important to know about the credibility of a publisher. To address this, recently one company came up with a Blockchain based ad registry which offers people incentives for evaluating the publishers, rating and whitelisting them. With such listing, brands can decide which publisher to depend upon for their campaign. Now for the first time, an open ad buying network based on Blockchain is going to be made available buying and selling ad inventories. This new ad marketplace launched as New York Interactive Advertising Exchange which has partnered Nasdaq will be a reality soon this year. So, in the world of digital advertising and media, the next round of change almost to the extent of a seismic one is brought by Blockchain technology. From transparency in rewarding and monetisation to ensuring credibility to publishers and viewership, thanks to Blockchain digital advertising will no longer be the same again.

If a good isn't capable of storing value, we'd be incapable of handling and consuming it. Even an ice-cream cone needs to exist long enough for value to be transferred from tub to mouth. What Jevons was implying in the above passage is that some goods are better than others at condensing value. Goods with the low bulk and weight, including the "current money of the land" (i.e. banknotes), are the best condensers. Below is a list of items ranked according to price per pound, which I get from Evilmadscientist (beware, these are 2008 prices). 100 bill is better at the task, and while both are surpassed by championship thoroughbred semen, nothing does the job better than LSD. To condense value over time and space, a store of value will need to be durable. Saffron has a fairly high value-to-weight ratio, but its quality depreciates much quicker than a dollar bill, thus compromising its ability to store value through time.