OPTIN Network: A Blockchain-based Digital Advertising Solution

OPTIN Network: A Blockchain-based Digital Advertising Solution

The advertising industry is a global, multibillion-dollar business that serves as a conduit between manufacturers and consumers. The research group magna Global reported that U.S. advertising agencies earned $166.8 billion in revenue in 2014. There are more than 65,000 advertising businesses employing more than 248, 000 workers in the United States.
Whether for nonprofit organizations or Fortune 500 companies, advertising agencies are hired to cultivate brand identities, persuade consumers to switch brands, launch new products, and lobby for political issues.

Blockchain and Advertising

Today’s digital advertising industry faces many challenges, ranging from fraud and lack of transparency to antiquated payment models. The following problems are very much practical in the industry:
  • A prevalent trend of data about consumers being shared without their knowledge.
  • There is the issue of low quality content as a result of decreasing revenue of publishers.
  • Advertisers are having difficulty getting enough ROI.
  • So many middlemen which is driving up costs.
  • Marketing research is another challenge which most often is not done because of cost.

The challenges explain the reason that headlines around blockchain technology are so prevalent these days. Indeed, blockchain technology could revolutionize a number of industries. Nowhere is the promise quite as strong as in programmatic digital advertising. By 2019, it is estimated that a full two-thirds of global digital display ad dollars will transact programatically.

Blockchain offers a solution to many current programmatic woes. However, as with cryptocurrencies within the financial markets, success hinges on adoption across the ecosystem – from advertisers to publishers to ad technology vendors. All players stand to benefit from widespread adoption of blockchain technology, but a lot of confusion still exists as to exactly what blockchain means – and what each needs to do to reap its benefits.

The Solution – The OPTin Network

The platform is designed with the aim of solving the problems, leveraging on DoGood Media’s array of users and publishers, the solution incorporates immediate traction and has great prospects for success.
Concretely, these issues can be solved in the following ways:
  • User control, giving users the freedom to opt-in to some targeted industries. This will ensure they share only data they feel at home sharing and eliminate the problem of sharing data without the consent of customers.
  • Transparency: Data transfers and money transfers should be visible to all viewers.
  • Free Unbiased Data: Advertisers have the option in selecting appropriate media outlets, without paying too much, upfronts.
  • Community oversight in data collection and sharing through open-source auditable code.
  • Rewarding users for their time and the trust they have in the system.

Being a blockchain based network, it offers an independently verifiable and decentralized way to verify spend throughout the supply chain. It’s a system that runs in parallel and complements existing ad delivery, data targeting and yield-management functions. All participants in the system gain transparency into the supply chain and a clear understanding of where the advertiser’s dollars are going. If the supply chain decides that a certain layer is not providing value, then as a natural progression, the supply chain reforms to the path of least resistance and greater efficiency.  

Useful Link:           Website | Whitepaper | ANN Thread

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