Blockchain Tech to be Used by Toyota to Abridge Fraud in Digital Advertising Campaigns
Per the press release published on Tuesday, October 16, Toyota- a Japanese car manufacturing company has collaborated with the blockchain advertising analytics organization Lucidity to lessen the fraud when purchasing digital ads.
Earlier named as KR8OS, Lucidity was established in 2017 in Los Angeles and provides an Ethereum blockchain solution to trace the supply chain payments, so that promoters can oversee in what order their funds are dispensed.
By getting into partnership with Lucidity, Toyota and global ads agency Saatchi & Saatchi are supposedly seeking to acquire transparency in Toyota’s cyber ad campaign purchases and eradicate wasted spending. The approximate size of the automotive digital promotional market was accounted at nearly $15 billion in the U.S.A in the year 2018.
Reportedly, the Media Director at Toyota Motor North America – Nancy Inouye has spoken to the advertising trade publication AdAge that collaboration with Lucidity consequently resulted in a 21 percent hike in the traffic of the website.
According to the reports, Lucidity has the potential to flag websites and applications with a paramount level of indentation and click discordance which depicts deception and fraud that is moving funds to the sites with higher production.
Inouye also stated:
“Toyota has the desire to go into the depths of programmatic sphere specifically as such it is a zone where we don’t possess transparency and visibility. As per the AdAge, the firm is planning to expand its collaboration with Lucidity beyond the initially planned three-week test.”
“We are thinking to take this campaign to the next step and we feel that if we will tie knots for a longer period of time it can yield stronger results.”
The Media Director at Saatchi & Saatchi-Tom Scott said that although having in-built high-end anti-fraud and viewability filters, Lucidity has the potential to produce remarkable value-add by further polishing the campaign.
He further said:
“The proficiency of having access to a visible, viable and clean set of information from such a complex programmatic supply chain network is groundbreaking. We are privileged to take action and this is our first step to utilize blockchain technology to eradicate waste and revolutionize our Ad buy in this way”.