The technology allows publishers and advertisers to easily track the success of their campaigns while eliminating fraud threats
Indian media giant, Zee Entertainment, has collaborated with ADsDax to utilise blockchain technology for advertisement tracking. With a market capitalisation of $2.5 billion, Zee Entertainment has announced it has been running sizeable real-time advertising campaigns with AdsDax’s Hedera Hashgraph-based platform. This move could be a revolutionary step to encourage other reputable companies in India to explore the advantages of blockchain.
With a commendable 1,300 transactions per second (TPS), AdsDax’s Hedera Hashgraph-based platform has downplayed scalability concerns with the collaboration. “Lots of people within the ad industry had dismissed the idea of using blockchain technologies to measure the success of their advertising campaigns because of concerns over data throughput,” Ryan Davies, CPO at AdsDax previously said.
The use of a blockchain-based platform to track advertising provides publishers and advertisers with a real-time, transparent and cost-effective way to conduct advertising campaigns. The AdsDax’s Hedera Hashgraph-based platform not only makes it easier for advertisers to monitor the success of their campaigns, but also protects stakeholders from data fraud. However, the most crucial purpose of such advertising campaigns is to enable the execution of real-time micropayments.
AdsDax has hinted that the micropayments feature that will facilitate rewards for consumers for their engagement will go live on the platform soon. This micro rewards feature is anticipated to use Hedera’s cryptocurrency HBAR, and will also allow users to claim and manage coins easily from an integrated consumer control.
The engagement with Zee Entertainment is the first time Distributed Ledger Technology (DLT) has reached this volume in a live commercial environment. Talking about the collaboration and the micro-rewards feature, Ian Mullins, AdsDax CEO, stated, “This record is a huge proof-point for our business model and showcases how AdsDax is leading the way in the adoption of Distributed Ledger Technology in advertising. We are one step closer to our goal to pay micro-rewards to consumers for their time, data, and attention whilst surfing the internet.”
“We were amazed by the scalability and speed of the AdsDax platform. We have looked at the potential for Blockchain and Distributed Ledger Technologies to solve publisher pain-points such as payment, transparency, and accountability,” said Amit Qazi, Ad Operations Head at Zee Entertainment. “AdsDax has built a system that can not only process all of our inventory in real-time but also has the prospect of enabling real-time payments for publishers,” he added.
AdsDax joins several other advertising companies who are exploring blockchain solutions. Japanese advertising firm Dentsu, and Korean enterprise Aquilliz, are some of the members of the ad industry who are aiming to reinvent the advertising ecosystem with blockchain.
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