Advertising supply chain woes can be solved by blockchain: Adbank

Company aims to tackle ad fraud and lack of transparency by ‘following the money’

Adbank co-founder and CMO, Angelo Dodaro, is on a mission to solve the advertising industry’s transparency issue and is using the power of blockchain and artificial intelligence to “follow the money” and fight the $50 billion ad fraud problem.

“It’s notoriously one of the most self-hate industries out there,” Dodaro told CMO.

Dodaro is considered a leading expert on the intersection of creative content and digital advertising and has become an internationally renowned speaker on the topics of blockchain technology, innovation in digital advertising, and cryptocurrency marketing.

He is a sought after ICO expert and consultant; having led his team through the most unique marketing campaign in ICO (Initial Coin Offering) history that featured a viral video created by Emmy nominated Zack Bornstein (SNL, Jimmy Kimmel). 

Angelo Dodaro
Angelo Dodaro

Dodaro’s latest mission is timely given companies like Procter and Gamble (P&G) - the world’s largest advertiser - recently slashed digital ad spending by $200 million. P&G brand chief Marc Pritchard has been a vocal critic of the lack of transparency in the industry, calling out “murky” and “fraudulent” digital marketing practices.

Dodaro said Canadian-based Adbank is building an ad network with an analytics and anti-fraud artificial intelligence engine. It’s an advertising ecosystem built upon Ethereum (ETH), through the creation of the Adbank token: ADB.

Essentially, he said Adbank creates a programmatic and real-time bidding system for advertisers and publishers. Each ADB token represents an ad or ads. Publishers sell the ads to advertisers using the currency of this new ad economy. 

Dodaro said the company decided to build the ad network and analytics and anti-threat engine in order to help solve some of the industry’s pressing problems, which stem from a lack of transparency. Key stakeholders in the advertising supply chain - the advertisers and the publishers - are being improperly served, he explained.

“Ad fraud, which costs advertisers $51 million every day lost to fraud and excessive markups, which can be as high as 70 per cent. In some rare cases, it can be as high as 90 per cent. In other cases, the publisher doesn’t even know how much revenue is actually being shared back with them," he said. 

“The whole objective of Adank is to bring the value back to the key stakeholders and eliminate the need for intermediaries that are taking more than their fair share with what’s available these days.

“And that’s where blockchain comes in because it’s uniquely positioned to deliver that transparency. It is the first technology that we have that can really provide an objective, untamperable transparency.”

Dodaro said the industry can now tackle ad fraud in a “more meaningful way” because it now has the ability to ‘follow the money’.

“When we have a token based economy we’re actually able to follow the path of that money in a way that’s just not possible any other way. Anyone who deals with fraud will tell you, ‘you have to follow the money.’”

In the short-term, Dodaro's main objective is to create the infrastructure layer to build upon to properly address these technologies. By building an advertising protocol, he said Adbank is in the unique position of being able to build an advertising ecosystem designed to be highly resistant to fraud. 

“It's still early days, but there's a lot that we can do to bring immediate value to the advertising supply chain.”

Asked what this technology means for today's modern-day marketers and CMOs, Dodaro said marketers have been asking for this type of approach for some time.

“It is like a breath of fresh air for them because they’ve been screaming and demanding transparency for a very long time. But the problem is we’re operating in essentially a duopoly where most of the global advertising spend - even if you factor in non-digital - is going to Facebook or Google. They are calling the shots ultimately," he said. 

“Just look at companies like Procter and Gamble that have a $7 billion a year advertising spending threatening to pull entire digital spend to make a big statement about it. Even these companies are still not getting the transparency they want.”

Dodaro expected CMOs, marketing leaders, and media buyers to be excited about blockchain because this is something that can “shine a light” on the wastage they know has been happening.

“They have been calling it for a long time and we’re here to finally give them the data to back it up and shine the light into dark places that intermediaries and the middlemen that control the duopoly simply have no incentive to do. So we’re completely changing the incentivisation of how the whole ecosystem operates. Because it’s that broke, it needs to be broken and rebuilt.

“We’re seeing this in other industries too, especially supply chain related industries that have a lot of hands in the mix and have a lot of murkiness. Blockchain absolutely is going to revolutionise in the short-term and very powerfully in the long-term.”

Read more about blockchain in the advertising and marketing industry:

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

Modernization on marketing to promote products and business is really a big leap especially the age of social media. Thanks for sharing s...

Brayden Manchee

How National Tiles used digital personalisation to deliver 15 per cent of revenue online

Read more

Great write-up. I wrote an article about ASMR as well and the top ASMRtists:https://medium.com/illumina...

Dexx Mason

ASMR: Flash in the marketing pan, or something more?

Read more

Nice to be visiting your blog once more, it has been months for me. best mp3 converter

Yolanda R. Skillman

Melbourne Fashion Week: Using digital and insight to drive engagement and attendance

Read more

Typically I visit your web journals and get refreshed through the data you incorporate yet the present blog would be the most obvious bes...

Yolanda R. Skillman

What automated design is going to do to 3D printing and product customisation

Read more

I am overpowered by your post with such a decent theme. best mp3 converter

Yolanda R. Skillman

Report: Accountability key to marketing's influence in business

Read more

Blog Posts

Why direct response advertising is winning this year

In response to the COVID-19 crisis, brands around the globe are going into hibernation and waiting out the ongoing storm. CMOs have dramatically slashed their budgets across every single form of media, digital included.

Sabri Suby

Founder, King Kong

Taking back control of your tech

To win in customer experience, brands need to take back control of their technology.

Michael Titshall

VP, managing director, R/GA Australia

Brands with internal customer insights capability will survive and even thrive

According to The Australian Bureau of Statistics, two-thirds of Australian businesses across all sectors have reported taking a hit to revenue or cash flow due to COVID-19. About one in 10 said they have paused trading altogether. In 70 per cent of cases, this was due to COVID-19.

Pip Stocks

CEO of BrandHook and founder of Hearsay

Sign in