The ANTO Tests Adbank’s Anti-Fraud Blockchain Solution
A blockchain-based anti-fraud ad solution was tested by the Austrian National Tourist Office in association with Adbank. Upon launching an advertising campaign run by blockchain tech, the ANTO has become the very first of its kind to participate in such a strategy. The collaboration hopes to investigate in depth use cases for blockchain technology pertaining to the advertisement industry and has so far proven to be prosperous.
A Major Move For Blockchain Tech in the Advertisement Industry
With the blockchain test created by the Ether based startup utilizing a native coin called ADB token, Adbank, the project is directed towards preventing ad related fraud costing. Such fraudulent activity costs businesses more than $50 million per day based on recent statistics. Adbank’s mission is to cut down fees charged by technology intermediaries which can increase advertisement prices by more than 70%.
The platform’s CMO and co-founder, Angelo Dodaro, stated how excited the company is to be a part of this major movement for blockchain deployment, particularly in partnership with a nation such as Austria. The project is a first step towards investigating relevant use cases for the ad industry.
The project has also facilitated the highest mode of transparency for publishers and advertisers seen in the industry so far. For the very first time, businesses running advertising campaigns are able to track the distribution of funding for attribution purposes. The ANTO initially showed interest in the power of blockchain tech since Adbank’s 2017 ICO marketing campaign that led to a viral video.
An Exciting Partnership Underway
ANTO officials explained that upon noticing Adbank’s innovative strategies, they were very interested in running a trial for the technology. As a tech-oriented organization, the ANTO noted that working alongside Adbank is a prosperous partnership focused on the development of blockchain possibilities.
According to studies performed on charges associated with online ad networks, costs can equate to as much as 50% of each dollar funded without taking advertisement fraud into account. Trial results have determined that blockchain technology can help target the issue of non-organic website traffic by cutting out the need for intermediaries and improving transparency. Adbank officially completed its blockchain-based payment platform this March which runs alongside the platform’s exclusive AI technology designed to tackle ad related fraud. With time, trials such as this could offer deeper insight into blockchain based solutions for advertisers and the industry at large, helping deter fraudulent activity and cut major losses associated with fees charged by intermediaries.