Austrian National Tourist Office Pilots Blockchain Technology To Combat Ad Fraudbr>
The Austrian National Tourist Office (ANTO) has announced that it is running a digital ad campaign powered by blockchain technology.
ANTO is piloting an ethereum-based ad platform developed by blockchain firm Adbank. Powered by the ADB token, the Adbank platform aims to reduce ad fraud, a problem that is estimated to cost advertisers $51 million a day in 2018. It also aims to cut out the middleman through blockchain, some of which are marking up the cost of ads by up to 70 percent or more.
“We are actively positioning Austria to be one of the premier global destinations to visit all year round,” said Michael Scheuch, Head of Brand Management for ANTO. “In the pilot with Adbank, one of the more interesting blockchain applications in the advertising sector, we hope to overcome on a global scale various difficulties within classic online advertising.”
In addition to ANTO, multi-platform media company Red Bull Media House is also participating in the project and will provide inventory on the publisher side via its alpine lifestyle publication Bergwelten.
“It’s exciting to see a country like Austria acknowledging the powerful use case that exists for advertising on the blockchain. This level of transparency between advertiser and publisher is unprecedented, especially for an organization like ANTO,” said Angelo Dodaro, CMO & Co-founder of Adbank. “For the first time advertisers like them can see where their money is going, rather than going into a ‘black box’ that shows data we know for a fact is questionable.”
According to recent studies, programmatic digital ad networks take 48 cents of every dollar on average and that’s before ad fraud comes into the mix. The Association of National Advertisers (ANA) announced last year that global ad fraud dropped from $7.2 billion in 2016 to $6.5 billion in 2017.
However, a report released by Adobe in March of this year indicated that actual losses to ad fraud may be 10 times the ANA’s number. Adobe inspected traffic across thousands of its client sites and found that 28 percent of the traffic showed “non-human signals” indicating that it was fraudulent. Ad Contrarian blog author Bob Hoffman calculated, based on this fact, that ad fraud may reach $66 billion in 2018.