Japanese car manufacturing giant Toyota has partnered with a blockchain advertising analytics firm in order to cut down on fraud when buying digital ads.
The company, Lucidity offers Toyota an enhanced solution that helps it to control its advertising campaigns, cut back on wasted spending and offer more transparency in a US market currently estimated to be worth $15 billion in 2018.
Since the partnership, Toyota reports that the company website is now able to flag sites and apps with a high level of impression and click discrepancy, identifying the possibility of fraud or bot infiltration. This was an area which was previously lacking in Toyota’s tracking system, according to Nancy Inouye, Media Director at Toyota Motor North America. She commented that the company, “wanted to go deeper into the programmatic space in particular because it is an area [where] quite frankly, we don’t have transparency and visibility:”
“We are in discussions to take it to the next step and [test] further with additional campaigns for a longer period of time. We feel that if we go longer we would see stronger results,” she added.
Many of the media industry’s transparency problems are beginning to be addressed utilizing DLT solutions; in particular, those relating to audits and transactions. Activities such as fake traffic counts, bot clicks, and domain spoofing are increasingly being tackled by new projects designed to combat fraudulent media and advertising activity. Tom Scott, Media Director at communications network Saatchi & Saatchi, suggested that new systems such as Lucidity’s can still improve on companies’ built-in anti-fraud software using blockchain, suggesting:
“The ability to have access to a transparent, clean set of data from across the programmatic supply chain is game-changing. We’re empowered to take action, and this is the first time we’ve been able to use blockchain technology to eliminate waste and optimize our ad buy in this way.”
Toyota has been looking into how it can improve its services using DLT after major global car producers, BMW, General Motors, Ford, and Renault joined with other companies earlier this year to launch the Mobility Open Blockchain Initiative.
Follow BitcoinNews.com on Twitter: @BitcoinNewsCom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.
Image Courtesy: Pixabay
The post Toyota Adds Transparency to Ad Buying Using DLT in $15 Billion US Market appeared first on BitcoinNews.com.