Mad to still live in ‘Guess Economy’!

New York-based MadHive is using cryptography and blockchain technology to address ad fraud that it estimates will amount to US$19 billion in 2019 — and a study conducted by Pixalate has found that 19% of global OTT impressions are invalid.

According to MadHive CEO Adam Helfgott, publishers, brands and agencies alike are still living in the Advertising 1.0 ecosystem — what is termed as the ‘Guess Economy’ — instead of entering Advertising 2.0 that he refers to as the ‘Evidence Economy’, where results are trusted as they are mathematically and scientifically proven.

He added that using the indelible features of blockchain to record inventory transactions and prevent claims of falsified CPM (cost per thousand impressions) would eliminate intermediaries and achieve cost savings for buyers and sellers.

MadHive’s system can also detect bots that inflate video impressions and record the real engagement activity across deskstops, mobiles, ConnectedTV and OTT.

The system has been adopted by Tegna’s OTT advertising division, Premion, to offer better ad targeting and immutable accounts of the transactions. With real data captured, MadHive can also develop audience-specific marketing strategies and provide greater campaign efficiencies.

Jim Wilson, president of Tegna, said: “The MadHive solution ensures advertisers are getting what they pay for while providing greater trust and accuracy in all phases of audience targeting, media buying, campaign management and reporting.”

Another company that has adopted MadHive’s anti-fraud system is Beachfront, a supply-side operator plugging into the burgeoning ad-supported ConnectedTV marketplace.

Helfgott noted: “We seem to have turned a corner, and it’s exciting to see the market adopting blockchain and cryptography-powered solutions in practical ways to address the real challenges in digital advertising.”

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