This week in Los Angels, word came from KR8OS that the group is rolling along with the development of their Ethereum blockchain powered ad attribution platform expected to fully launch next year.
The goal? To provide unparalleled transparency in digital advertising, particularly for attributions of app installs, direct response, affiliate deals, signups, and other conversion events.
And the timing couldn’t be more opportune.
A March 2017 study commissioned by WPP ad agency The&Partnership and conducted by ad verification company Adloox illustrates the magnitude of the problem KR8OS aims to address: the report found that an estimated 20% of all 2016 ad spend was wasted on invalid traffic and projects that similar wasted ad spend could reach $16.4 billion in 2017.
When the large players in the ad network industry like Facebook and Google make and enforce the rules for determining attributions and determining payments, advertisers are finding that those rules don’t favor their interests. KR8OS will be positioning itself to disrupt the digital advertising ecosystem by eliminating the role of third parties in determining attributions for networks. KR8OS will allow advertisers and performance marketers to track attributions with unprecedented reliability and precision – on a massive scale. Since the register is accessible to all users, they can also audit attributions to make sure they are being fairly administered. An open attribution system allows for full transparency and eliminates fraud.
“The blockchain does not and will not solve all the world’s problems. It certainly won’t solve all the problems in adtech either,” stated co-founder Sam Goldberg. “However, when it comes to transparency and record keeping, blockchain has tremendous promise, and that is exactly where KR8OS lives – we bring transparency to attribution and tracking. Attribution answers the most important question for marketing departments in every industry, which is: where did my customer come from?”