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YouGov joins blockchain craze with new digital ad platform
Market research and data analytics group YouGov announced the development of a new digital advertising platform, YouGov Direct, on Monday.
The AIM-traded company said that currently, consumers had little control over their data, while ineffective targeting had a negative impact on brands and publishers.
It said YouGov Direct aimed to overcome those problems in the advertising ecosystem, by harnessing blockchain technology to verify the data exchange between consumers and advertisers.
"Through YouGov Direct, panellists will be able to choose which personal attributes to make available to third parties while remaining anonymous," the company's board said in its statement.
"For example, a user might decide to share information about favourite hobbies and withhold data related to health history. In exchange for sharing their data, users will earn additional rewards."
YouGov said advertisers, brands and publishers using the platform would gain access to known audience attributes, which enabled more effective advertising targeting and better campaign performance.
"YouGov Direct's transparent and verifiable record of transactions provides assurance that ads are reaching actual humans as opposed to bots and will support businesses in meeting the requirements of the forthcoming EU General Data Protection Regulation."
The firm said it expected to launch the product to customers during the course of the 2019 financial year.