Blockchain was introduced in 2009 as a concept and Ethereum was launched in 2015. Now with more than 10 years of discussion and debate behind us, the elements of a complete solution are now falling into place. The first meaningful applications of blockchain were in the fintech industry in 2017 and have received widespread support with market adoption picking up momentum. Although blockchain is still most associated with cryptocurrencies like bitcoin, the emerging technology has the potential to offer multipurpose business applications for a range of industries. Digital Media offers an interesting use case because of the multiple challenges the industry has faced with the continued evolution to mobile devices and away from traditional media.
Deployment of Blockchain technology is still in its initial phase but given the evolutionary potential for the digital media industry, it is timely for ad buyers and publishers to consider the advantages that Blockchain brings to the industry. Blockchain has the potential to disrupt the way content is produced, aggregated, distributed, consumed, and monetized.
The introduction of Blockchain to the Digital Media industry is timely. Data breaches by technology vendors are common. Consumers are tracked every day with hidden cookies and permissions we subconsciously grant. According to a Juniper study, ad losses reached $42 billion in 2019 and are expected to be pushed to $100 billion by 2023. Blockchain will ensure transparency throughout the supply chain by serving ads and paying for the actual human interactions on the ads rather than automated and fraudulent traffic.
Data Chain Labs, Inc. (DC Labs) is a revolutionary Blockchain-based Digital Media Exchange that solves the $100B+ issue of fraud and distrust in the massive Digital Advertising Supply Chain and reduces the 50%+ of ad spend taken by middlemen. With deployment of Blockchain smart contracts between Publishers and Ad Buyers, multiple steps in the supply chain will be eliminated, resulting in a more effective ad spend and a more significant yield for publishers.