“I entered the digital media world in 2005 at JumpTV. Then I moved from JumpTV to ooVoo and built an ad-powered video chat company with over 150MM users before I was recruited to DashBid,” he explained.
Charlene Weisler: Give me a short description of Dashbid.
Rodger Wells: DashBid began as a supply-side platform for video advertising. We have evolved over the years to become a platform built on blockchain allowing advertisers, viewers and publishers to benefit from advertising transactions via open-ledger visibility and value transfer among all constituents in the advertising value circle.
Weisler: How do you use blockchain technology?
Wells: We use blockchain as both a value-transfer mechanism and a reconciliation tool for publishers, advertisers and viewers. We see this changing greatly in the coming 18 months as we create the blockchain on which advertising will operate.
Weisler: How do you see blockchain technology impacting media in general?
Wells: Blockchain will provide a level of accountability and transparency in media that has never before been attained. Digital advertising is estimated to be a $107B business in
2018. With so much money at stake, the opportunities for fraud and poor performance abound.
By using blockchain, it becomes possible to have a transparent trail of events which will expose fraud and poor performance. Although fraudsters will continue to target the pool of money, blockchain systems such as PreVUE will make it increasingly difficult to succeed.
Weisler: What relationship do you help develop between a consumer and an advertiser?
Wells: The advertiser has always sought interaction with the consumer. Historically this was achieved through publishers who sold these consumers to advertisers. We are now facilitating a method for consumers to take back ownership of their virtual identity and sell themselves directly to the advertisers.
Ownership of personal data is what makes PreVUE most valuable. Giving audiences the ability to set boundaries on their data as well as easily see where it has been used, or misused, is a new arena. No longer will we have to “trust” third parties with our personal data sets. Giving this ownership back to the individual enables personal protection of property at an entirely different level.
Weisler: How do you see the sales funnel changing?
Wells: We see a simpler, more reliable way for advertisers and viewers to interact directly while providing increased benefit to publishers through more valuable, engaged audiences. Transparency, accountability and engagement will be more important, focused and required than ever.
Weisler: Where do you see messaging, advertising and sales going in the next three years?
Wells: I think the power of data ownership will shift back into the hands of the viewer. For too long our virtual selves, the data set that is “us” online has been controlled and owned by others. This leads to abuse that we don't even realize we are participating in. We’re only now seeing the impact of this data, and how it can be used against our will, with the Cambridge Analytica story, followed by Cubeyou this weekend. Only through ownership of our own virtual self will we ever be able to truly control its use.