Blockchain technology has drawbacks despite its benefits. Because well-known blockchains like Bitcoin and Ethereum can only process a certain number of transactions per second, scalability is still a significant challenge. Another issue is energy usage, especially in PoW systems. Furthermore, barriers to widespread adoption include a lack of standardized standards and regulatory uncertainties.

However, these problems are being addressed by developments in blockchain protocols, such as Ethereum’s switch to PoS and the appearance of layer-2 scaling solutions. The fact that governments and businesses from all around the world are funding blockchain research and pilot projects suggests that the technology has a bright future. Blockchain technology offers significant potential for enhancing data security across various industries.

Its decentralised, immutable, and transparent nature provides robust mechanisms for protecting data against unauthorised access and tampering. blockchain technology has the potential to revolutionize the advertising industry by providing increased transparency and trust. In traditional adtech systems, there is a lack of transparency regarding the placement and performance of ads, leading to issues such as ad fraud and lack of accountability.

However, blockchain can address these challenges by creating an immutable and transparent ledger of transactions. One of the key benefits of using blockchain in adtech is the ability to verify ad impressions and clicks. With the help of blockchain, advertisers can ensure that their ads are being displayed to real users and not bots. By recording ad impressions and clicks on a decentralized ledger, advertisers can easily verify the authenticity of the data, thus reducing the risk of ad fraud.

Blockchain technology also enables the use of smart contracts in the adtech ecosystem. Smart contracts are self-executing contracts with the terms of the agreement written directly into code. By using smart contracts, advertisers and publishers can automate the ad buying and selling process, eliminating the need for intermediaries and reducing costs.

For instance, adtech startup Brave is leveraging blockchain and smart contracts to create a more efficient and transparent digital advertising ecosystem. Brave’s browser allows users to opt-in to view privacy-respecting ads, and in return, they receive Basic Attention Tokens (BAT). The smart contracts ensure that advertisers only pay for verified ad impressions and clicks, while users are rewarded for their attention.