A Blockchain scheme set up to increase trust and transparency in the digital advertising sector has won some impressive name-brand support in the shape of McDonald’s, Virgin Media and Nestlé.
The three household names will be joined by their respective media agencies Zenith, OMD UK and Manning Gottlieb OMD in the endeavour, which is also being supported by UK tech SME Fiducia.
And the endeavour is the new Blockchain pilot out of the Joint Industry Committee for Web Standards (Jicwebs), a scheme where companies agreeing to sign up to its Good Practice standards and be certified to transparently share their business practices.
Jicwebs is a joint industry currency, made up of the four trade UK and Irish digital advertising trade bodies, the AOP, IAB, IPA and ISBA, and with its Blockchain work is trying to test the impact of Blockchain solutions that provide “end-to-end supply chain transparency and clarity around advertising spend.”
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The next stage beyond that are said to be all about looking to optimise the supply chain and gain operational efficiencies for all involved.
Commenting on the announcement of the pilot earlier this year, Jules Kendrick, the body’s CEO, said: “It is crucial the advertising and media industries show why we should trust the digital advertising supply chain.
“This pilot project – which will run throughout the rest of the year – should show us how DLT can contribute to resolve the trust, transparency and efficiency problems we face today.”