Publishers typically have to wait a few months before they get paid for the ad impressions they deliver to their users. Ted Dhanik, CEO and co-founder of ad tech firm engage:BDR, spoke to eMarketer’s Ross Benes about how publishers can use cryptocurrencies to get paid faster.
How would a publisher benefit from using cryptocurrencies in its transactions with advertisers?
After an ad was served, they could potentially get paid through blockchain technology and have access to a cryptocurrency that would be redeemable on an exchange immediately. Instead of waiting to invoice and be paid 30, 60, 90, or even 190 days out by the buyer, the [cryptocurrency exchange] intermediary would issue a coin instead in real time.
Isn’t that sort of risky for the publisher?
It’s the intermediary issuing the coin that takes the risk. Their incentive for doing this is to get access to more publishers that they didn’t have access to.
What's the biggest challenge to getting publishers to use cryptocurrencies?
The volatility and the valuation of the prices of the coins dropping and changing every day.
The scale and volatility issues scare a lot of people away from cryptocurrencies, but you seem bullish about them. Why do you feel that way?
There’s a lot of value around cryptocurrencies. It’s not just about the payments. It’s also about fraud detection.