Increased reliability, reduced costs, and the removal of inefficiency, add up to a powerful argument for seeing blockchain's emergence in the advertising and ad-buying business sooner rather than later. In an exclusive whitepaper from Jack Myers TomorrowToday, we explore why, when and how Blockchain Technology will impact the media buying and selling business.
Blockchain technology, the enabling architecture behind open-source payment network, Bitcoin, has been hailed as the most disruptive technology in decades. Blockchain has left a profound mark on the financial industry, as well as voting, music, ownership, and fighting counterfeits. But could it also have an impact on ad tech and the ad-buying business in the near future?
You may be familiar with blockchain from BLOCKCHAIN REVOLUTION: How the Technology Behind Bitcoin is Changing Money, Business, and the World, by bestselling Wikinomics and Being Digital author Don Tapscott, and his son Alex Tapscott. Tapscott's book has served as a primer for many, explaining why an open, distributed, and global platform like blockchain could fundamentally alter what we achieve online, how we do it and who gets to participate.
Blockchain may already be on your radar. But maybe, as a senior decision-maker in global media, advertising, or marketing, the impact of blockchain on programmatic media buying can seem remote—at least in the near-term. Or maybe you're thinking through the implications of having blockchain tech featured at one of the advertising industry's premiere events, as it was in November at the ad:tech conference in NYC.
While it's difficult to predict the timing or widespread adoption of blockchain for ad buying, including ad tech and programmatic media buying, there are reasons to believe it may be sooner rather than later. PJ Leary, who has been a leader in examining transparency issues in the advertising business, believes that "the power and potential of the underlying technological platform powering Blockchain is hard to ignore. As we transition from the Internet of Information to the Internet of Value or of Money, it is quite possible that Blockchain technology will upend the media buying business in fundamental ways that will irrevocably change how we measure, evaluate and buy media inventory."
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