PMG’s General Manager of Advanced Media Team, Analytics, and Data Science, Dustin Engel, took to the stage at the 2017 Ad Age Next Conference a few weeks ago to break down the confusion surrounding blockchain’s capabilities while digging into the specifics of how and when marketers can expect to start leveraging this new technology.
To emphasize the message that blockchain isn’t a technology to be fearful of, but rather marketers should be excited about, Dustin uses his time at the Ad Age Next Conference to debunk myths and explore blockchain’s multi-faceted opportunities that will help advertisers achieve transparency, better data security and a more holistic view of attribution for the advertising ecosystem.
As Dustin thoughtfully articulates in his presentation, the adoption of blockchain may be quickly upon us in 2018, as over 80,000 Github projects and thousands of investment dollars are being funneled into the research and development of blockchains while consumers become more impatient with out-of-date security protocols that cause nationwide data breaches and security failures.
In addition to outlining smart contracts, consumer compensation opportunities like micropayments, and the benefits of conducting business in a self-policing ecosystem, Dustin spotlights the pivotal opportunity of blockchain for advertisers and brands: serving as a standardized data set for advertisers. As a result of allowing agencies to data mine the blockchain for more holistic attribution and reporting upon industry-wide adoption, Dustin anticipates that advertisers will be able to use this emerging technology to unlock true transparency and help brands gain higher earnings.
By walking through potential advertising scenarios and outlining a roadmap of blockchain’s future, Dustin also highlights the importance of educating yourself and keeping a close eye on “stimulus events” (like data breaches) that could drive the industry towards the use of blockchain much faster than we may anticipate.
To watch Dustin’s presentation and learn more intriguing insights about blockchain technology, check out his 2017 Ad Age Next Conference presentation here (paywall).