IAB Calls Blockchain ‘Natural Fit’ for Digital Video Advertising
The Interactive Advertising Bureau released its first whitepaper on blockchain technology Thursday, highlighting how it believes the tech can improve the buying and selling of video ads.
The IAB says blockchain technology “is a natural fit for the digital advertising supply chain” with potential to increase efficiency, reduce costs and eliminate fraud. Blockchain can also significantly reduce the number of queries that ad-tech systems need to make each second; ensure that premium video inventory is bought and sold reliably; reduce the number of suppliers and increase transparency, according to the IAB.
To understand what blockchain is, picture the kind of physical ledger you’d see at a hotel or weddingbut with instantaneously updated copies around the world. With blockchain tech, when buyers and sellers complete a transaction, it’s digitally recorded and verified by a group. Once recorded, it is impossible to change.