The BlokID team
BlokID, a next-generation developer of privacy protection solutions for the digital advertising industry, has completed its US$1.25 million seed round of financing led by Ascend Vietnam Ventures and AppWorks.
The Vietnamese startup will use the capital to accelerate product development, focus on user acquisition, and initiate market expansion, with an outlook to launch by Q2 2024.
The company plans to roll out Google Analytics plug-ins and Financial Identity features to empower users further and safeguard their information.
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Founded in July 2023, BlokID leverages blockchain technology to bring an independent, immutable source of truth to digital advertising. Using BlokID, advertisers can verify ads, conduct attribution audits, and guarantee privacy with bonded privacy insurance through one-click campaigns integrated with Google, Facebook, DV360, Xander, and The Trade Desk.
BlokID solves three key problems:
Ad attribution: allowing clients to verify attribution of ad conversion and detect variances against data reported,
Privacy insurance: utilising blockchain timestamping to notify clients of any third-party access of information immediately,
GA4 transparency: moving to GA4 away from Universal Analytics to offer event transparency to all Google Analytics users for free.
Following major privacy violations and litigation cases in recent years, brands understand the severity and the high costs of data breaches as major threats to business reputation and user loyalty, requiring them to allocate a significant portion of their budget to brand safety.
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BlokID prevents breaches from occurring and sends immediate notifications to clients of any third-party access to their information, providing control and security to help brands and agencies build and maintain trust with their customers.
“In an era where digital advertising faces unprecedented challenges, BlokID aims to be a beacon of hope. They are not just solving complex problems of ad attribution but are also navigating the intricate landscape of privacy regulations,” said Binh Tran, General Partner, AVV.
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