BlokID, a Vietnam-based company that creates blockchain-powered privacy protection solutions for the digital advertising sector, announced the successful completion of a $1.25 million seed financing round headed by AppWorks and Ascend Vietnam Ventures (AVV).
With an aim to launch by the second quarter of 2024, BlokID stated in a statement that it will expedite product development, concentrate on user acquisition, and start market expansion with the help of this funding round.
According to the statement, the company intends to introduce financial identity features and Google Analytics plug-ins to further empower users and protect their data.
BlokID is a cutting-edge privacy protection solutions provider for the digital advertising sector. Founded in July 2023, the company uses blockchain technology to give digital advertising an independent, unchangeable source of truth.
With BlokID, advertisers can run attribution audits, ensure privacy with bonded privacy insurance, and verify ads with ease. BlokID one-click campaigns are integrated with Google, Facebook, DV360, Xander, and The Trade Desk.
BlokID addresses three major issues that brands and agencies encounter when it comes to digital advertising: ad attribution, which enables clients to confirm attribution of ad conversion and identify deviations from reported data; privacy insurance, which uses blockchain timestamping to promptly alert clients of any third-party access to information; and GA4 Transparency, which involves switching from Universal Analytics to GA4 in order to provide event transparency to all Google Analytics users at no cost.
Brands now recognize that data breaches pose a serious risk to their reputation and user loyalty, necessitating a large financial investment in brand safety in the wake of high-profile privacy violations and legal cases in recent years.
BlokID offers a simple and affordable way to stop breaches from happening.
BlokID offers an unmatched degree of control and security to assist brands and agencies in establishing and preserving consumer trust by promptly alerting clients of any third-party access to their information.
Consequently, brands no longer have to worry about their data and can focus on their core competencies, which are producing meaningful results and cultivating strong relationships with their audiences.
Michael Hahn, the Chief Executive Officer of BlokID, is a 20-year veteran of the advertising industry, having previously held executive positions at Valassis and Oracle Corporation. He identified the shortcomings of current solutions for safeguarding user privacy.
