There is a new technology that has been in the works for many years and has recently been heavily invested in. This technology is known as blockchain and could potentially revolutionize the marketing and advertising industry. Google apparently thinks the same and as of 1Q2021, invested $120Million bucks into developing it further.
“Theta Labs, a venture-backed blockchain company, has struck up a new partnership with Google Cloud, the rapidly-growing Alphabet subsidiary. Google Cloud will offer a new service allowing users to deploy and run nodes of Theta’s blockchain network. Perhaps more importantly, Google Cloud itself will operate a validator for Theta’s network — servicing all of Europe. It’s a baby step for Google but make no mistake about it: the company is now engaging in blockchain. “This is one of our first validators, but we have many crypto customers,” says Allen Day, Developer Advocate for Google. “We had already made Bitcoin, Ethereum and six other cryptocurrencies’ data available through our public dataset program. This is the next step.”
This is all possible skirting off the tails of the creation and solid history of establishing the iCloud as a foundation. The iCloud has proven itself to be the most secure network globally at this time.
“Security is our number one priority,” says Lewis Tuff, Blockchain’s Head of Platform Engineering. “Google Cloud goes above and beyond to protect data, infrastructure, and services from external threats, while internally, the permission model integrated with Google Workspace gives granular control over access rights.”
Blockchain and the use of cryptocurrency in the ideal world, would be devoid and remove all digital ad fraud. Bots, ad layering, etc. would essentially never happen in the perfect blockchain advertising utopia. The kicker with using blockchain, besides getting the world to jump on their wagon to ride along, is standardizing a solid bitcoin or currency that doesn’t ebb and flow like a stock.
As of August 3, 2021, Google has already started transitioning their advertising business model using this method. Google is requiring ads placed on their platform to have both blockchain contracts agreed too (called Smart Contracts), as well as using cryptocurrency for payment. The United States is the ‘beta’ test with plans to go global as quickly as possible.
“Certification requires advertisers to be FinCEN registered in the Money Services Business and with at least one state as a money transmitter, or a federal or state-chartered bank entity.
The advertiser also must comply with relevant legal requirements — including any local legal requirements, whether at a state or federal level — and ensure that ads and landing pages comply with all Google Ads policies. The new policy applies to crypto wallets based in the U.S. only, but the ads will serve up globally.”
The secondary advantage to utilizing this technology is enacting the privacy laws the U.S. has been floundering over enacting. The google blockchain advertiser contract will forbid any personal data without consent to be used.
How would this look for an Over-the-Top advertiser?
“Content companies like Netflix NFLX -0.3% or Alphabet’s YouTube essentially keep the content in centralized data centers, dishing video out when a customer asks for it. For every customer request, there’s a big download.
Theta, however, has come up with a decentralized system that would move the content in small chunks around the extreme edges of the network. Their genius is the recognition that we’re all watching the same stuff.
If you decided to watch “Narcos” at noon and then a neighbor decides to watch the same thing fifteen minutes later and yet another wants to watch it in an hour, chunks of the content would jump from your TV to your neighbors to the next — even though you were the only one downloading Narcos from the central Netflix server. One server ping, many viewers.”
If you want to see a current list of where other countries stand with using blockchain technology click here.