Yesterday AdsDax, a decentralized advertising marketplace, said it has been running sizeable real-time advertising campaigns with major Indian entertainment company Zee Entertainment (market capitalization $2.5 billion).
AdsDax uses the Hedera Hashgraph distributed ledger technology (DLT) and said it achieved 1,300 cryptocurrency transactions per second (TPS).
Ryan Davies, CPO at AdsDax commented previously: “Lots of people within the ad industry had dismissed the idea of using blockchain technologies to measure the success of their advertising campaigns because of concerns over data throughput.”
The platform matches publishers and advertisers for rich media ads, but the DLT aspect has two functions. One is to verify advertising events for advertisers. Like many other blockchain ad platforms, the aim is to prevent fraud and increase transparency for the advertiser.
The second purpose is to execute real-time micropayments. This potentially could go to the publisher, but in this case, the payments were ‘micro rewards’ targeted at the consumer for their engagement. The rewards use Hedera’s cryptocurrency HBAR, but the functionality for consumers to claim the rewards is not yet live.
AdsDax CEO Ian Mullins commented: “We are one step closer to our goal to pay micro-rewards to consumers for their time, data, and attention whilst surfing the internet.”
When it goes live, the Consumer Console will enable consumers to manage their wallets as well as their data and adjust privacy settings.
“We were amazed by the scalability and speed of the AdsDax platform. We have looked at the potential for Blockchain and Distributed Ledger Technologies to solve publisher pain-points such as payment, transparency, and accountability,” said Amit Qazi, Ad Operations Head at Zee Entertainment. “AdsDax have built a system that can not only process all of our inventory in real-time, but also has the prospect of enabling real time payments for publishers.”
Several other advertising solutions are exploring blockchain. Two months ago, Japanese advertising firm Dentsu started a trial to compensate influencers who create fan content for manga titles. In Korea, Aquilliz has partnered with Foodpanda and Pepsi. Other companies experimenting with blockchain include KFC in the Middle East, Mediaocean, JICWEBS, and MadHive.