1. Buying and selling ads through a smart contract IO
The Insertion Order (IO) is the binding contract between a publisher and an advertiser. The current, paper-based IO is rife with inefficiencies and lacks a mechanized verification process for contracted commitments. Further, the plurality of secondary actors (such as DSPs, SSPs or Data Brokers) delivering on the terms of the IO provide enormous opportunities for fraud. Agency trading desks, exchanges, and ad networks buy, sell and trade ad inventory, but none of this activity is automated for standardization or scalability. It is rarely verifiable, integration across the system is terribly inefficient, and there is no common mechanism to provide liquidity.
Kochava has designed and developed an open, crypto-based ledger framework, the manifestation of a smart contract system to replace the antiquated IO. The smart contract includes all the required elements of a well-formed IO, in a fully traceable format, codified into an electronic Ricardian contract that persists as an immutable, secure, and verifiable record.