Japanese automaker Toyota has signed a cooperation agreement with the blockchain company Lucidity to reduce fraud when buying ads.
Formerly known as KR8OS founded in 2017 in Los Angeles, Lucidity offers a solution based on blockchain Ethereum to track payments in the supply chain that allows advertisers to control the allocation of funds.
Under the partnership with Lucidity, Toyota and the global advertising Agency Saatchi & Saatchi are reported to strive to achieve transparency in the purchase of digital advertising campaigns Toyota and eliminate the “wasted costs”.
In 2018 the market size of automotive digital advertising estimated at $15 billion.
According to the Director of advertising at Toyota Motor North America Nancy Inoue (Nancy Inouye), a partnership with Lucidity has led to a 21 percent increase in site visits of Toyota.
In particular, Lucidity were able to identify sites and applications with a high level of discrepancies in impressions and clicks, which indicates the presence of fraud or bots to move funds to the sites with higher productivity.
“The technology of the blockchain allows to transparency in all our actions in the software space, even with high standards filters, anti-fraud and visibility that are already built, Lucidity could bring significant benefits by the use of the blockchain for the modernization of all advertising processes,” according to Inoue.
The company plans to extend its contract with Lucidity, in which was originally discussed a three-week pilot project
The technology of the blockchain is increasingly used in the media industry to address issues of transparency, such as counting fake traffic, bot clicks and substitution of domains, and transaction auditing. In June, the global software developer Mediaocean began working with IBM to implement the technology in the advertising industry.