The Interactive Advertising Bureau wants marketers and publishers to consider exploring or even embracing blockchain, the technology that records and verifies transactions.
The white paper it released on Thursday, “Blockchain
for Video Advertising: A Market Snapshot of Publisher & Buyer Use Cases," acknowledges the “market is still nascent” for blockchain’s use in video advertising, but
highlights a few areas where it can be an asset to the ad business, most notably by improving efficiency and transparency, as well as eliminating fraud.
While blockchain is best known for its use in cryptocurrencies like Bitcoin, the underlying technology can apply to essentially any transaction, such as buying and selling advertising inventory. IAB predicts that this year will see a number of experiments in digital advertising using blockchain technology.
“The initial deployments will by and large be proof-of-concepts or pilots,” the report says. “With success, 2019 could be the year that blockchain sees broader adoption and begins to scale across the supply chain.”
The IAB report also notes a number of challenges to use cases in video advertising and OTT, such as high demand for inventory (which can mean less desire for experimentation from sellers), as well as the need for “shared taxonomies, definitions and standards.”
You can read the full IAB white paper here.