BlockClick, a blockchain technology company, has introduced a prototype platform designed to reduce fraud in the digital marketing industry. The prototype provides transparency for advertisers and media buyers, thanks to robust event tracking and identification of fraudulent traffic.
The Power of Smart Contracts
Leveraged through the Ethereum network, smart contracts are encrypted and integrated into the platform. The platform allows all parties involved, including digital marketing network providers, publishers, and advertisers, to validate marketing campaigns.
Using the configurable system, buyers and sellers can maintain agreed-upon parameters. BlockClick’s prototype is compatible with multiple decentralized applications and has several important functions, including:
Tokens: Users obtain ERC20 tokens they keep in their “wallet”, which is provided once a profile is created. Tokens are purchased via the platform’s “exchange.” BlockClick’s MEDIA token is currently accepted; however, accepted cryptocurrencies in the future will include Bitcoin, Litecoin, Monero, and Ethereum.
Contracts: Smart contracts, set up by buyers only, can last for a given time-frame based on an end date chosen by the user. Contracts end when the end date or selected conversion rate is reached. The buyer can choose an existing seller, or invite new users to the BlockClick platform by entering their name and email address before they can save their contract.
BlockClick also enables buyers to:
- Create and modify contracts.
- Automatically email buyers and sellers when a contract is modified.
- Pay and view available BLOK tokens and Escrow tokens.
- Record and track conversions.
Sellers can manage contracts within the platform as well (the buyer can choose whether to allow the seller to make changes, which helps agree on the terms of a contract). Approval is accomplished through the “manage contract” menu option. Both parties can also edit the contract (if buyer allows it) once it is saved and can view the contract status as well.
A tracking link is provided for a seller to use in their advertising. The tracking link will redirect the user to the client’s offer URL that is assigned to that contract. For CPA contracts, the buyer is provided with a conversion pixel that they need to implement into the assigned offer page and hit once a conversion occurs.
Secure Contract Verification
BlockClick offers several features to ensure contracts are legit. An “Events” page enables the user to view all the clicks and sales (conversions) made, while legit and fraud clicks / sales are identified through the platform’s fraud API and their status updated accordingly. Buyers choose the sellers they want to work with through the Marketplace. All sellers are visible in this public space (they can hide themselves from the marketplace by turning off public mode in their profile), where a variety of details can be seen, including:
- Number of offers
- Average % of refunds
Buyers can use this information to pick a seller they want to create a contract with. In effect, the prototype adds trust and transparency to all types of digital media transactions. At the same time, there are no caps on investment limits.