Blockchain and Advanced Research Council
This is a new initiative within the framework of I-COM Data Science Programme, launched in August 2017.
While blockchain may prove a suitable approach for addressing transparency and authenticity issues eroding trust in online advertising, many important questions need answers before actual industry-wide implementations are feasible. For example, whereas Bitcoin, the best-known implementation of blockchain technology, poorly handles 250 million transactions per day, the programmatic advertising ecosystem manages more than 200 billion transactions per day.
Another concern is related to blockchain’s energy problem, and how the Internet’s share of the global carbon footprint rapidly increases together with the growth of online advertising. Finally, it is not reasonable to expect advertisers and their agency partners, anytime in the near-future, to expose themselves to the uncertainty of cryptocurrencies. A scalable, and energy-efficient blockchain paradigm, where trading is pegged at least initially to currency, needs to be outlined to meet the requirements of online advertising specifically.
The purpose of the Council is to answer these questions, and provide guidance on the subject matter to relevant industry bodies, companies and researchers.
The vision of the Council is to share information on what is blockchain and its application in the industry, and to educate and provide constructive advice to leaders and practitioners of the ecosystem.
The main objectives of the group are to:
Examine different blockchain technologies and how applications of that technology can improve our day-to-day business;
Analyse how we can use contracts and maintain transparency and integrity;
Explore how blockchain could solve different business problems in the industry, comparing it with other possible solution projects.
To read the reports from previous meetings, visit this page.
If you would like to receive more information or join this working group, please contact us.