Buying online ads using blockchain technology can save companies lots of money and provides better data on ad delivery. A pilot by Unilever build on IBM’s blockchain technology got positive results according to Campaign Live. Following the test Unilever will now setup a partnership with an ad software company to further develop the program.
The blockchain software reported ‘zero leakage’, meaning all advertisements were delivered as intended. As a result Unilever saved approximately 2 to 3 percent according to IBM. The two companies have been working on the project for 18 months.
Many of the world’s biggest advertisers, including Nestlé, McDonald’s and Virgin Media, are looking at blockchain as a solution to make online advertisements cheaper. In many areas most of the advertisements happen online, which is a complex ecosystem vulnerable to waste and fraud. Blockchain solutions can combat this problem. IBM and Unilever aren’t the only ones working on such a solution, because Amazon is working on it too.
Online ads not the only future
Using blockchain to improve the already existing principle of online advertisement isn’t the only way to the future. There are many blockchain projects that monetize content without spamming ads to the consumer. For example Brave Browser rewards users in BAT, and automatically tips small bits of BAT to their favorite websites. Another project that works with a similar mechanic is BitTube Airtime. The plugin or stand-alone browser gives consumers TUBE for spending time online. Consequently content producers get rewards for the time people spend on their website.
Also published on Medium.