An LA-based Company Is Using Blockchain For Digital Advertising to Fight Fraud
A company based in Los Angeles is in the process of using the blockchain for digital advertising to solve the issue of fraud, which can be seen through traditional channels.
MetaX, which is unlocking the power of the distributed ledger for digital advertising, understands that ad fraud is a major issue in the industry. According to the Blockchain, it is hoping to tackle this issue through its new adChain protocol that allows its supply chain to coordinate in a scalable, trustworthy and secure way through the blockchain.
MetaX co-founder and CEO Ken Brook said that digital advertising is growing a fast pace, which means standard industry protocols are having trouble providing sufficient support. As a consequence, fraud becomes an issue.
Blockchain has a number of exciting implications for digital advertising. Fraud prevention is a natural first application given the transparency and security blockchain brings, and because fraud is such a major issue for the advertising sector.
ConsenSys, blockchain experts and a software development consultancy for the creation of decentralized applications (DApps), aided MetaX by working with them to create the adChain.
Working through several digital advertising channels, the Ethereum-based protocol presents a solution that allows participants throughout the supply chain to work together in an environment that is free from bot traffic, malware and fraud.
The Sydney-based software platform Veredictum last August launched a block-based manuscript protection platform that allows creators to protect their ideas from having their ideas stolen before they sign any contracts.
Meanwhile, Mass Network, a blockchain advertising platform unveiled in November last year that it is attempting to transform advertising on the Internet by accepting bitcoin micro payments.
As more industries realize the benefits they can offer more use cases with the technology will be undertaken. Due to its transparent nature and immutable ledger, bitcoin’s underlying technology has grown in popularity, which doesn’t seem to be changing anytime soon.
These are just a few cases in which the blockchain for advertising is being used, illustrating the potential impact it can have on the more developed sector.
Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The opinions expressed in this article are those of the author, they do not necessarily represent infocoin views and should not be attributed to Infocoin.