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Sunday, August 13, 2017

Blockchain Gears Up To Conquer Ad Tech

Blockchain Gears Up To Conquer Ad Tech

The digital advertising realm is riddled with complexities and fraud, brought upon by intermediaries and hackers that ultimately put consumer privacy at risk. Blockchain technology shows immense potential in getting rid of these problems and changing advertising as we know it.

The blockchain is the technology that drives Bitcoin, a cryptocurrency that has recently seen a massive surge in value. While many remain skeptical about the wide scale application of Bitcoin, some experts believe that its biggest contribution thus far is its introduction of blockchain technology. Today, it seems that blockchain can be seen everywhere, thanks to the additional layer of security it provides.

Usually, blockchain is described as an immutable and decentralized Excel spreadsheet which contains a list of events or information called blocks. Additional data can be entered and transmitted without compromising security. Any block added to the chain can no longer be altered, making it an enduring source of truth.

All this sounds complex, yet early adopters leverage the technology to simplify the processes involved in advertising. For one, the need for middlemen will be removed to a degree. This is a welcome change for advertisers, who only get a fractional value of their investment because of the fees imposed by intermediaries.

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Source: Huffington Post

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