Can Blockchain Disrupt Digital Ads? Alkimi’s Decentralized Exchange Aims To Transform $600 Billion Industry
Advertising will reach approximately $667 billion globally in 2024, including the spike in advertising accompanying a U.S. Presidential election.
According to an ISBA Programmatic Supply Chain Transparency study, 15% of digital advertising spend is “unattributable —that’s about one-third of supply chain costs.” That is, advertisers don’t know where that money has gone.
Tech giant Google is facing scrutiny from the U.S. Federal Government, which is trying to break up parts of the company’s advertising business. The Department of Justice (DOJ) has alleged that Google has manipulated prices for display advertising by acquiring online advertising firms such as DoubleClick, offering services that allow ad buyers to target users, and essentially forcing advertisers to use their services to compete for audience penetration.
Roughly 90% of online publishers use Google to display their advertisements, though Google argues competitors, including Meta and Amazon, give advertisers additional options.
But if Web 2.0 big tech is creating a problem by limiting buyers’ options, how can the Web 3.0 industry leverage the potential of blockchain to provide a better, more transparent, and more efficient solution for ad spending?
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Blockchain Building a Better Ad Campaign
Enterprises outside of blockchain are realizing blockchain’s potential to make advertising more transparent and efficient, and individual industries have begun to explore their own solutions.
For example, in Q2 of 2024, luxury brands including Moët Hennessy Louis Vuitton (LVMH), Prada Group, Cartier, Mercedes-Benz, and OTB Group united to create the Aura Blockchain Consortium, a …
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