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According to the survey conducted by advertising industry business intelligence company, only 11% of advertiser and agency executives have completed ad buys using blockchain technology. In an open source decentralized blockchain for the digital advertising agency, 300 advertising decision makers were asked questions about their perceptions towards adoption of blockchain media solutions, in the report, commissioned by XCHNG.
The key inferences of the survey:
- Is Blockchain the promising land?Approximately about 70% of advertising decision makers indicate that significant issues such as lack of transparency and inaccuracies in the supply chain are considerably affecting their ROI, and more than half believe blockchain can help address these issues.
- Adoption within the next 2 years: Majority of them intend to purchase data utilizing blockchain technology in the next couple of years, of those who met with a blockchain provider to discuss solutions.
- Two-thirds of marketing professionals seemed to be dubious as to whether blockchain media solutions are viable or not: The unsettled apprehensions and manipulative news around cryptocurrency space have shun the outlook of blockchain for the advertisers to go in constructive approach.
- Although we could notice intensified interest, execution is not that considerable in this industry:While half of advertisers’ report having met with a blockchain provider, just 1-in-10 has executed any ad buying using the technology.
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