Using Blockchain to Disrupt Media

The group39s founding members consist of a range of companies from technology advertising agencies media sellers and data vendors who are pooling their expertise and efforts to according to a press release quotbring transparency and data security to the ad tech supply chain through blockchain technologyquot amp160The release states that founding member companies includeamp160Canoe GroupM Cadent Meredith IPG Mediabrands and Neustar among othersWhy Apply Blockchain to Digital MediaAt a recent Gotham Media event Gordon Platt President Gotham Media explained that when it comes to media and advertising quotBlockchain technology will bring media licensing and distribution into the 21st Century enabling creators to control access to their work and ensuring that they get paid for its usequotEric John Deputy Director Video Center of Excellence at the Interactive Advertising Bureau IAB noted that in the areas of fraud and safety quotIt takes automation to anamp160entirely new levelquot amp160On the plus side blockchain offers a failsafe verifiable immutable protocol to permanently link data for use in transactions and data tracking amp160Privacy compliance is part of this focusBut caution is advised amp160quotPutting a social network on the blockchain is harder than you thinkquot warned Benji Rogers CEO and CoFounder Dot Blockchain Media amp160quotIf it links to extremist content you can never take it down amp160You might siphon millions of dollars to the wrong person and can39t turn it offquotPrivacy Compliance LegislationThe concern about data privacy is being addressed through legislation by the EU called the General Data Protection Regulation GDPR scheduled to go into effect in May 2018 amp160Its implementation is a call to action for companies interested in creating and supporting a privacy compliant peertopeer decentralized network for media amp160Through the use of blockchain companies can address a range of data issues from transparency to supply chain inefficiency to data security and portability to reconciliation and payments that comply with the new EU regulationquotBlockchain has the ability to help media by illuminating the current opacity in the supply chain and by extension eliminating fraud and moving economic value back to publishers and advertisersquot said Gabe Greenberg CEO and CoFounder of GABBCONamp160Global Audience Based Buying Conference and Consultancy amp160Importantly it offers a secure privacy compliant ability to transact that protects the user39s private dataAdLedger Proof of ConceptsAdLedger is working on two different proofs of concept right now amp160The first is OpenGPDR which will cryptographically store data on a data controller39s private blockchain creating an audit trail amp160This will help companies manage the new privacy rights under the GDPR regulations of the Right to Access and the Right to Be ForgottenThe second proof of concept is Campaign Reconciliation which focuses on streamlining the campaign reconciliation process showing quotwhat a campaign transacted from cradle to grave would look like on a blockchainquot saidamp160Greenberg amp160Led by Amichai Lichtenstein Director of Product Management at AppNexus the project includes the creation of a contained blockchain network with a set number of players that combines disparate sources of immediate metrics based on measurement KPIs tied to campaign delivery amp160Touted as a single source of truth the ledger will ideally showcase blockchain39s ability to reduce the amount of campaign discrepancies and offer more transparency for buyers and sellersChallenges to ImplementationThere are still some challenges to overcome amp160The most frequently cited challenge Greenberg noted is speed amp160quotThe traditional ad tech landscape has high QPS queries per second demands that blockchain today would struggle to support but we are confident that the technology will continue to evolvequot he stated amp160quotSaying that this will remain a challenge forever is assuming no innovation or iteration it39s like saying a fiveyearold will never be tall enough to ride a roller coasterquotEven with this challenge the expectation is that there will be increasing traction to embed blockchain in digital media throughout 2018Photo credit Andre Francois UnsplashClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writersamp160

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Using Blockchain to Disrupt Media

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Charlene Weisler

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