It is perfectly fitting that the opening day of the Blockchain Economic Forum was held in a New York hotel on Halloween, since the event highlighted the tricks and the the treats of the emerging technology platform.
Fortunately, treats are plentiful. Blockchain provides a distributed, verifiable and secure way to record all the steps of a transaction, and details are available almost immediately to participants.
Although the blockchain is still relatively slow for quick advertising space, Kochava and NYIAX, to take two examples, are among those planning to use the blockchain to solve the problem of transparency in the advertising industry.
In addition, blockchain activates smart contracts, which are programmatic agreements that generate their own regulations. In other words, the smart contract captures the understanding that your ad will be shown on this web page for that number of impressions and, if so, the contract automatically generates the payment. Obviously, agreements that trigger their own regulations could eliminate a number of middlemen.
And blockchain's ability to generate cryptographically protected value units, either tokens whose value can be defined or as a kind of market-determined currency, such as bitcoin. For example, indaHash, a Warsaw-based influencer marketing firm, plans to generate its own bitcoin coins to pay influencers in several countries, in order to avoid having to manage multiple banking systems.
[Read the full article on MarTech Today.]
