BlockClick – Click Fraud’s Groundbreaking Worst Enemy
The next Australian project being featured in spotlight is BlockClick, who are using blockchain technology for click fraud prevention. By using an innovative combination of blockchain technology and cryptocurrency, digital marketing is taking a step forward in reducing the devastating impact of click fraud once and for all.
Click fraud occurs when a competitor, disgruntled customer, or automated software is used to generate clicks or sales in order to falsely inflate the expense a business is spending on advertising. Unfortunately, click fraud is shockingly common. In 2017 alone, it is estimated that 1 out of every 3 clicks on digital ads were fraudulent, 8.3% of all impressions were fraudulent, and marketers lost a total of $7.2 billion to click fraud.
Coming out of Brisbane Australia, the team behind BlockClick are developing a cutting-edge solution to the problem of click fraud. With technology based on a blockchain-infused platform, BlockClick uses the concept of complete transparency between the advertiser and publisher to create an environment where both parties are able to rest assured their business affairs are conducted fairly and honestly.
BlockClick works by verifying that every click originates from a quality and unique traffic source. Using multiple fraud detection APIs, known fraudulent traffic sources & IPs into decision modules, BlockClick is able to filter out all substandard IP addresses and spam bots. CEO Anthony Taylor says,
“Over time, as we build our own metrics, we will be able to combine those metrics to create our own internal decision module.”
An important aspect of the value BlockClick offers is a smart contract between the advertiser and publisher. When using BlockClick to moderate a transaction, both parties must enter into a smart contract. This ensures the publisher receives payment for their services and the advertiser receives quality clicks and/or sales.
Unlike other contracts, the BlockClick smart contract is able to monitor itself and can identify when one or both parties have resulted in a breach of contract, hence, no issuance of payment. Advertisers or publishers who break the contract risk exposure and loss of revenue.
Through a contract backed by powerful automated monitoring, BlockClick is able to provide peace of mind and accountability to both publishers and advertisers, guaranteeing that their business relations will be mutually beneficial and completely transparent.
As the BlockClick platform expands, this technology will possess an embedded chargeback anticipation mechanism to detect percentage of opt-outs, credit card chargebacks, as well as credit card refunds in order to further protect the merchant & account provider. BlockClick is dedicated to changing the nature of digital advertising in a way that is better for both publishers and advertisers alike. In the near future, this fraud detection technology could even be used on a broader scale that also supports a banking utility.