As in? Both views and clicks can still be tracked so fraud will have to be dealt with in the same way as it is right now.
If you are saying that fraud is harder to detect without building user profiles, that might be so. But it's not impossible.
If you are saying that ads can be changed into clickbait I guess you'll have find a way to deal with that. I think an ad network should have an active relationship with both advertisers and publishers and not the anonymous, fully automated, crappy relationship Google has right now.
Furthermore I don't believe that fraud is being stopped now. I have paid google for a lot of meaningless clicks on their search network (people come to a page for a second or two). Not just a few- but the bulk of the clicks are like that.
And don't get me started on mobile.
That's why I'm staying away from ppc and am advertising with CPM. My spidey-sense tells me it hasn't been as thoroughly gamed yet.
If you want to be truly disruptive, you could build an ad network that doesn't require you to pay for bounces. An improved version of Google's quality score (read: one that works) would also improve the quality of the network as a whole.
CPM does that (cost per 1000 views as opposed to pay-per-click).
The quality score is quality from Google's point of view. If I put in things that help me qualify my leads (and get fewer people clicking and discovering that they don't want it), my quality score goes down. (The best way to do that, by the way, is to put in a price. Then the people who are just doing research tend to not click it. But you get penalized for that.)
They are throwing no intelligence at it. I have an entire site set up around study skills. My quality score for "study skills?" 1/10.
Fraud is hard to detect even with user profiling. Among other tricks, sophisticated fraudsters replay genuine user sessions collected on hacked computers to build fake profiles.
Also commented elsewhere: If I'm correct (and this might be different in other countries), in the Netherlands TV ratings aren't measured by the TV channels themselves, but they use a trusted third party (Stichting KijkOnderzoek) that has nothing to do with selling ads.
You could setup a non-profit for tracking views and maybe even clicks, that only uses this information for statistical analysis. Revenue can be shared based on these statistics. The fraud issue would also have to be tackled by this entity.
There're 3rd party trackers for ad network such as double verify, comscore, moat. But the technology on this works horribly. For example, if an ad network want to track thru a vpaid, it wraps vpaid on top of ad content and that's it. ( Say the ad is hosted by the ad network itself.) But if you want third party tracking, you first wrap your ad with one layer, then you wrap third party tracking as second layer on top of that, which makes things worse.
