Preventing Digital Advertising Fraud With Stacks Blockchain Technology
The ever-expanding and promising new age industry of digital advertising is currently fraught with fraud. Even though this fact is often ignored by a lot of marketers, the problem is so severe that when in 2015 Adage did a report which found that for every 3 dollars spent on digital ads, fraud takes 1 dollar! In another study, White Ops and the ANA analyzed 49 ANA members’ digital advertising activity for the time range of October 2016 to January 2017. In this study, it was found that U.S. brands would lose a whopping 6.5 billion dollars in revenues just due to ad fraud in the year of 2017. Most of this fraud is due to bots that generate fake clicks or impressions on an ad, which leads to the advertiser having to pay for those fake clicks or impressions since there is no real way to discern a bot and from a human in this scenario. Needless to say, it is very clear that advertising budgets would see a drastic and dramatic improvement in their Return on Investments in the scenario where digital ads fraud is completely eradicated from the industry. The Stacks Network is doing exactly this.
The Stacks Network is a company that was founded in 2014 in Shanghai. Since then, Stacks Network has been working to build a smarter and more interconnected world by providing data storage and transmission services to various enterprises. So far, through various collaborations, Stacks has achieved a large presence in over 26 provinces in China. With their most recent project called Stackscity, they are now looking to completely revolutionize the world of digital advertising through creating a new revolutionary Wifi ecosystem that finely balances the needs of internet users, business owners, and advertisers.
In this ecosystem, advertisers have the ability to micro-location target audiences by selecting individual Stacks Router for displaying their ads. These Stacks Routers are provided to human-centric business owners or individuals. These owners receive payments directly from the advertisers for the ads that are being displayed to the users of his or her Wifi Hotspot set up with the Stacks Routers.
To completely eradicate fraud from this ecosystem. Stackscity uses the latest cutting edge blockchain technology. Since blockchains are decentralized peer to peer networks, it has the ability to keep a completely verifiable and immutable ledger or database available to all the members of the blockchain. This creates a level of trust and transparency that is unprecedented in the media and advertising industry. This blockchain provides a transparent validation mechanism for various user actions like multiple connections, views, clicks, etc. Thus, this decentralized system is able to keep a check for malicious activities like bots, protecting advertisers from huge loses caused by ad frauds. Within the Stackscity ecosystem, just as any ad is viewed by a user of a Wifi network from its login page, the view count is automatically updated in the blockchain.
Moreover, the use of blockchain technology and its transparency and security also proves very beneficial for all the stakeholders given the nature of behavior data and location data collected in the ecosystem. Since blockchains are decentralized peer-to-peer networks, they have no single point of failure to be taken advantage of by hackers. Thus, keeping this sensitive data always secure.
Have you ever been hit by digital ads fraud? Ever noticed drastic jumps in click rates but without other actions taken on your landing pages? Do you believe this large scale ads fraud in the digital world will finally get eradicated through blockchain technology? What are your thoughts on the matter? Please do share it with us in the comments below.
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