Ads, cookies and blockchain

Blockchain technology could be the silver bullet for a future of advertising that incorporates end user control and privacy, according to Own Your Data founder Brittany Kaiser and NYIAX founder Carolina Abenante.

Blockchain technology promises more control over personal data for internet users. Theoretically, they could sell this data to advertisers, choosing what ads they are exposed to and what companies track their browsing habits while pocketing some cash in the process.

How is this good for the online advertising industry that relies on data harvesting to target potential customers?

As Own Your Data founder Brittany Kaiser points out, with how ads currently work, there’s no guarantee that a human is even viewing your ads. In the first quarter of 2022 alone, according to Brittany, Meta removed 1.6 billion fake accounts from its social networking platform. How many of them were the ad clicks you were paying for?

“Blockchain can be revolutionary,” said Carolina Abenante, founder of NYIAX, adding that “every one of the large [ad] agencies has taken to heart that they need to find out how they can have as much transparency as can be given to the individuals and also to the advertisers who they’re a proxy for”.

NYIAX itself uses blockchain technology for its supply-side platforms (SSPs) and demand-side platforms (DSPs) – parts of the ad tech ecosystem that are currently worth 86 percent of the industry, according to Carolina.

Blockchain may, therefore, be a mutually beneficial solution for end users and advertisers. Listen to the podcast to find out more.

Own Your Data founder Brittany Kaiser and NYIAX founder Carolina Abenante were in conversation with Adweek agencies reporter Olivia Morley on the PandaConf stage at Collision 2022.

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Main image of NYIAX founder Carolina Abenante and Own Your Data founder Brittany Kaiser: Eóin Noonan/Web Summit (CC BY 2.0)