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

Conversations over a cuppa with CMO: Craig Davis

​Leadership resilience, startups scaling up, marketing best practices, customer insights - these are just a few of the topics we manage to explore in the latest episode of Conversations over a Cuppa with CMO featuring Craig Davis.

More Videos

JP54,D2, D6, JetA1 EN590Dear Buyer/ Buyer mandateWe currently have Available FOB Rotterdam/Houston for JP54,D2, D6, JetA1 with good and w...

BARYBKIN ALEXANDER ALEXANDROVI

3-pronged marketing approach for property disruptor Brickx

Read more

Was really informative. Customer retention is very important for companies as retaining customers are simpler compared to making new ones...

Bhooshan Shetty

What lies ahead for the future of marketing post-AI

Read more

Good day sir / madamWe CLOSED JOINT-STOCK COMPANY AO KAYUM NEFT OIL COMPANY is one of theleading Oil & Gas trading companies in Russi...

BARYBKIN ALEXANDER ALEXANDROVI

3-pronged marketing approach for property disruptor Brickx

Read more

Good day sir / madamWe CLOSED JOINT-STOCK COMPANY AO KAYUM NEFT OIL COMPANY is one of theleading Oil & Gas trading companies in Russi...

BARYBKIN ALEXANDER ALEXANDROVI

Oath to fully acquire Yahoo7 from Seven West Media

Read more

Thank you for sharing your knowledge. Definitely bookmarked for future reading! Check this website https://a2designlab.com/ with lots of ...

Ryota Miyagi

Brene Brown: What it takes to be a brave leader right now

Read more

Blog Posts

Life beyond the cookie: 5 steps to mapping the future of marketing measurement

​There’s no denying there’s been a whirlwind of response to the imminent demise of the third-party cookie from all parts of the industry. But as we’ve collectively come to better understand the implications, it’s clear this change is giving the digital advertising industry the opportunity to re-think digital marketing to support core industry use cases, while balancing consumer privacy.

Natalie Stanbury

Director of research, IAB Australia

Ensuring post-crisis success

The COVID-19 pandemic has exposed brands’ CX shortcomings and a lack of customer understanding. Given ongoing disruption, customer needs, wants and expectations are continually changing, also causing customers to behave in different ways. Just look at hoarding toilet paper, staple and canned food, medicinal and cleaning products.

Riccardo Pasto

senior analyst, Forrester

A few behavioural economics lesson to get your brand on top of the travel list

Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.

Dan Monheit

Co-founder, Hardhat

Sign in