In a move to reduce ad fraud the Austrian National Tourist Office (ANTO) has announced that it will be participating in a pilot with Ethereum-based ad platform Adbank.
Adbank aims to provide transparency between advertisers and publishers and will be powered by its Ethereum-based token, ADB. Adbank stated that the platform also aims to reduce fees associated with ad tech middlemen, "some of which are marking up the cost of ads by up to 70%," Adbank commented and noted that "ADB token aims to reduce ad fraud; a problem that will cost advertisers $51 million a day in 2018."
ANTO's head of brand management, Michael Scheuch, said: "We are actively positioning Austria to be one of the premier global destinations to visit all year round.
"In the pilot with Adbank, one of the more interesting blockchain applications in the advertising sector, we hope to overcome on a global scale various difficulty within classic online advertising."
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Adbank indicated that ad fraud is a serious issue within the industry, with 56% of website traffic being driven by bots and other non-human traffic.
"This level of transparency between advertiser and publisher is unprecedented, especially for an organization like ANTO. For the first time advertisers like them can see where their money is going, rather than going into a "black box" that shows data we know for a fact is questionable," Adbank CMO and co-founder, Angelo Dodaro stated.
According to a report by software company, PPC Protect, The Ultimate List of Click Fraud & Ad Fraud Statistics 2018, one in five ad-serving websites are visited exclusively by fraud bots and that for every $3 spent on online ads, fraud takes $1.