Digital advertising is the focus of almost every brand’s marketing spend. As online ad space has become the dominant channel over the past several years, weaknesses in the system have resulted in fraud, inaccurate data, and financial losses. It costs the industry millions on a daily basis and leaves its stakeholders vulnerable to misrepresentation online.
The problems that technology helped create, however, may also be solved by technology. Blockchain, a distributed ledger system with trust built into the rules of the network, can help solve the serious issues faced by all industry stakeholders. The promises of blockchain are not without detractors, however, who claim the technology has not evolved enough at this point to have practical use.
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Even though blockchain has been a technology utilized in the financial sector for several years, automotive companies are only now discovering the advantages it offers. With the auto industry entering a new age of digitization, blockchain has the ability to revolutionize the automotive industry.
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