What Bitcoin’s Rise Means for Programmatic Advertising
Bitcoin is the future of finance. For those unfamiliar, Bitcoin is a store of value that many believe will become the currency of the internet due to its ability to move value faster, its decentralized nature, and most importantly the ability to facilitate transactions without a middle man. Programmatic is the future of digital advertising due to its faster, and more efficient ability to deliver better performance. So what do Bitcoin and Programmatic have in common?
The Blockchain. Blockchain can be defined as a decentralized online database that uses a fixed ledger of entries. They are secured and validated by the network, rather than a single authority. For Bitcoin believers, the idea of not relying on a bank or central government for access to your money is the opportunity ad-tech will soon explore. Especially as the industry sheds its reliance on a few major players. Blockchains innovation and strength lies in that it is a shared, open source system that is not managed by an entity or company alone. That noise you hear is Google, Facebook and the other walled gardens desperately trying to keep their hold on a quickly shifting world.
The industry is still trying to take in Google's news that they will not replace the cookie, and many are ultra focused on Unified 2.0. It isn't built on blockchain but the concept of an open decentralized internet. With Unified 2.0 no one player owns the ID, but it is open for all to use. Ad-tech isn't ready for a widespread blockchain solution today, but consider this push into an open internet the first step needed to enter and embrace a world built on blockchain. We are not heading towards a world where there is a single “blockchain solution” that powers ad tech, but solutions to business problems—transparency, supply chain, data integrity, etc.— These problems will be solved with blockchain technologies.
While Programmatic is still a long way from effectively utilizing blockchain and mass adaptation. The technology isn't ready, and the use case has not crystalized. Ultimately the story of blockchain is decentralization and open source. Without a middle man or true owner, businesses are free to innovate without being limited by the power of walled gardens. Innovation and the consumer will be the big winners. It's the promise of an established open and secure way to target, eliminate fraud, and limit the power of bad actors. Blockchain will simplify the connection between the parties supplying data and inventory, and those running campaigns. Most importantly this tech will be open source, and decentralized. Those who refuse to accept the future of blockchain are destined to be the blockbusters of ad-tech.
What do you think will be the biggest change blockchain will have on the future of advertising?
