Sam Kim, co-founder and CEO of Lucidity, stated blockchain expertise provides an answer to chop down on fraud and produce extra transparency to digital promoting.
Kim was beforehand chief working officer at The Mobile Majority, a cell advert firm the place he stated he noticed the challenges of reconciling the information utilized by totally different elements of the advert provide chain. So at Lucidity, his staff has created expertise on the Ethereum blockchain for good contracts that monitor this knowledge throughout the ecosystem.
“What we’ve constructed is a protocol for trade members to return to a consensus about what occasions are legitimate and what are invalid,” he stated. “We enable all of the members trafficking that advert to submit that knowledge … in order that mainly turns into a single supply of fact throughout the trade.”
On prime of the protocol, Lucidity has created merchandise centered on particular points. There’s one round price transparency, the place each participant within the provide chain submits the details about the price they charged and verification that they really ran the impression, which Kim stated may change a drawn-out reconciliation course of. And there’s one other product for confirming writer identification and flagging faux bid requests.
After I requested whether or not advert platforms and publishers will really feel comfy sharing this knowledge in a brand new method, Kim stated, “As an trade, there’s a variety of stress from the advertisers to turn out to be extra clear.”
“The best way we designed it, it’s going to profit those that are sincere and clear,” he added. “Those that aren’t, it’ll be dangerous to them. We anticipate to see adoption from those that are fully clear and sincere, and hopefully drive the trade in that course.”
As for potential privateness issues, Kim famous that Lucidity doesn’t at the moment embody client knowledge. That would change sooner or later, but when it does, Kim stated it might be finished in a method that ensured “privateness was addressed.”
Lucidity has been in beta testing since earlier this yr, and it’s already signed up companions from the advert world together with Viewers Group and Digital Treatment.
Kim stated the aim is to get “the advantages of the blockchain — disintermediation, transparency and belief — however deployed in a method that’s not cumbersome and troublesome for the present gamers.” So when you’re an advertiser, you don’t want to fret an excessive amount of concerning the underlying expertise; you simply get a dashboard with the information you need.
On the identical time, Kim stated the corporate is utilizing “innovative expertise,” for instance by implementing Plasma, a side-chain processing expertise that’s supposed to handle Ethereum’s pace and scaling points. And it’s partnered with IAB Tech Lab’s Blockchain Working Group, the Enterprise Ethereum Affiliation and Hyperledger.
The startup was beforehand often called Kr8os (from the Greek phrase kratos, which was one of the ingredients for democracy). Immediately it’s rebranding as Lucidity.
“We’d been fascinated by the rebrand for a while,” Kim stated. “Kr8os is a course of we used to finally drive our imaginative and prescient for Lucidity.”