Blockchain-backed, decentralized video platform, Theta Network will collaborate with Chainlink to build a new blockchain-based platform to solve the “multi-billion dollar Ad fraud problem” one that scams people through coin giveaways, the firm said in an announcement today.
The project which is currently live on its testnet, uses Google’s Big Data solution, BigQuery, and would aid advertisers to filter fake metrics from real human viewership by collecting its video performance data generated on Theta Network. With Chainlink’s integration, though, the new solution will use smart contracts to automate contracts between advertisers and content providers.
Additionally, the firm planned to use Chainlink’s secure oracles to obtain additional off-chain viewership data which would advance online content, by increasing the reliability and transparency of online advertising campaigns. This, the firm believed would save “billions of dollars” for online advertisers.
Further, Theta said Chainlink’s oracle solution would provide additional security to bridge viewership data to and from various on-chain and off-chain environments. According to the release, the integration would also allow Theta to access key metadata needed to further filter bots and click farms. With regard to combating ad fraud and fake views, Theta said in a statement:
Doing so [building the solution] increases the effectiveness of online advertising by empowering more informed decision making about which content creators and platforms reach the largest number of unique human users.
It added that it would make its decentralized data available to all stakeholders in the business of making ads, which the firm claimed would make the advertising, media, and entertainment industry more reliable and transparent.