Trust is a delicate asset in and of itself; a feat that takes a long time to obtain and yet can be easily lost in a short manner of time. In our modern economy, trust enables a globalized world where businesses can interact with one another in good faith and expectation that both parties will honor the terms of their business. But as in all human endeavors, the problem is found in the flaws of the system. In the digital marketing world, companies rely on information from third party entities to guide them towards the best sites with the greatest audience to whom they will be advertised too. However, the increasing sophistication of bots in the internet create the problem of fake traffic appearing no different than actual human clicks and web page views. A business owner willing to advertise online does not have the resources to check in on the legitimacy of web traffic of every website that he/she would like to advertise to. The owners of the websites are also at a disadvantage since their own traffic and visitor numbers may not be based on reality, thus given them a skewed vision of how popular (or not) their website is. Adbank believes to have a solution, one based on the disruptive technology of the blockchain and cryptocurrencies. Simply put, businesses willing to advertise online will no longer do it while traveling blind and with unreliable web traffic data. With the blockchain, Adbank can ensure that both parties, the business owner and website manager, are acting in good faith and with reliable information about the true audience of a respective website.
The problem is real. Ad fraud causes advertisers millions in losses because the money invested in digital advertisements with the hope of reaching actual people who might become paying customers instead goes to bots. These bots are nothing more than algorithm-based programs designed to look like human clicks and page visits, fooling both advertisers and website publishers with the mistaken view that people are interacting on their platform. In some cases, publishers may even buy the services of these bots to make their own website appear like it has a legitimate online audience which then incentivizes advertisers to give money to these websites in the form of digital ads targeted towards this fake online audience. The dollar damage caused by this type of sophisticated fraud is real. According to a study done for the industry in 2016, nearly 20% of all digital ad spending, totaling $16.4 billion, was a pure waste. That number is expected to increase by $4 billion in 2017. Without another alternative to combat this fraud, corporations around the world have resigned themselves to this reality and have accepted these losses as just another cost of doing business. They must reach audiences somehow but they can’t spend resources to also verify the authenticity of each website publisher’s traffic data. That is until the blockchain comes to the rescue.
Adbank is currently at work to launch its own Initial Coin Offering (ICO) to raise funds to bring about a blockchain based platform designed to address this issue of trust between advertiser and publisher. The traditional middle-men of this industry will become obsolete when a blockchain-based system replaces them, bringing about trust based on a peer-reviewed and maintained network that cannot be infiltrated or compromised by nefarious things like bots. Adbank will eliminate middlemen by creating this network in which advertisers and publishers can continue to advertise without losing advertisements to ad fraud bots. The goal is to use the latest cutting-edge technology of the blockchain, cryptocurrencies, AI, and open architectures to reinvent the industry of advertising by eliminating ad fraud, cutting out the middleman, and building next generation tools to make the experience better for users, advertisers and publishers. This nascent technology is still in the early days of being widely adopted but once it becomes mainstream, the problems of knowing who to trust and where to place confidence will be a thing of the past.
What is the blockchain? The blockchain is a network of individuals who work together to validate each other’s work and data. Oftentimes, as in the case of the most widely known cryptocurrency Bitcoin, the network is decentralized. This means that no one person or group of people in the network can gain too much power over the others that would give them power to alter the information being validated. Basically, the blockchain efficiently solves the problem of trust in any given system or industry. Today, everyone and everything relies on a third party for authentication of a transfer of goods and services. When money is exchanged, this occurs via a bank or credit card, a third-party money processing company, or a clearing company. This has created the potential for problems and fraud that mostly occur with the middle-man whose sole job is to act as the trusted intermediary between two parties interacting their business. Since we have seen how this same problem exists in the digital ad industry, the Adbank blockchain will replace the third-party middlemen with a system that can validate publishers with authenticated human traffic, and pair them with willing advertisers. The blockchain would ensure that a publisher’s traffic is legitimate, earning the publisher a sense of authenticity which can then be known to other potential advertisers. As more participants enter the network, advertisers can have faith and trust that the publishers in the Adbank network have been properly vetted and authenticated to be legitimate platforms for them to advertise to. Since the blockchain is constantly maintained, the integrity of the network remains sound, further establishing the confidence that advertisers can place as they spend their capital in platforms that have a real and authentic audience. This network can literally be free of ad-bot interference since the network will be geared towards identifying and thwarting any publisher whose platform is found to be riddled with such scrupulous activity. Such platforms would be blacklisted out of our network, denying them the opportunity to gain any kind of benefit from advertisers. The Adbank network is only getting started and wishes to be the disruptive platform of choice and the only solution for this problem facing the advertising industry. Be sure to visit adbank.network for more details.