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MARKETING DIVE: Blockchain’s ascendance in marketing hits hurdles — but the delay could be temporary

Big names, including Unilever and AB InBev, are dabbling with the distributed ledger technology. But the year has been in some ways quieter than many might have expected. When blockchain — and cryptocurrencies like bitcoin and ethereum that are powered by the distributed ledger technology — reached a feverish peak of hype in second half 2017, marketers couldn’t help but get caught up in the excitement. The buzz is understandable, but has not always translated into concrete solutions this year, with marketers in many ways being slow to glom onto the trend.

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BITCOIN EXCHANGE GUIDE: Blockchain AdTech Firms Look For Transparency, Speed, Fraud, Privacy & Payment Improvements

Blockchain technology cannot be ignored, whether the public loves it or hates it. Even having a discussion at Cannes about it is enough to incite a screaming match among the truly passionate. However, many consumers wonder of all of the hype has the potential to support various industries, bringing them the transparency and protection from fraud that every business needs.

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ADEXCHANGER: What’s The Latest For Blockchain In Ad Tech?

Are blockchain companies ready for the spotlight? And what work needs to be done before marketers or publishers can begin buying and selling media on blockchain-based platforms? NYIAX, for instance, built a blockchain media exchange where publishers can trade inventory futures, but it uses Rebel AI to verify ad transactions and is in discussions with other blockchain technology companies for media-buying solutions like viewability measurement and payment processing, said CEO Carolina Abenante.

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CUSTOMER THINK: How Blockchain Can Fix Advertising

The biggest asset an organization can work with is trust. Trust in a brand and its messaging, aka marketing, is what makes marketing successful and credible. The blockchain performance and scalability become relevant when it comes to getting real time insights into an ad campaign. This gives an edge to platforms like NYIAX and Papyrus, or MadHive, when it comes to video advertising.

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EMARKETER REPORT: Cleaning Up The Digital Media Supply Chain

Richard Bush, president at blockchain-based marketplace NYIAX, also believes that bringing more trust to the ecosystem can help spending levels rise across the board. “Once you create a trusted and financially rigorous marketplace where these questions are not the day-to-day topics, you start to get much higher volumes of transactions,” he said.   Download Report

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ANA: It’s Time to Automate Contract Reconciliation

Back office costs like contract reconciliation aren’t top of mind for buyers or sellers, but as technology adds new layers of capability to advertising, stakeholders must inevitably dedicate more people and resources to the back office. By one estimate, nearly two-thirds of fee income at the top 50 independent agencies is allocated to staff costs.

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