Unilever and Salon Media are using blockchain to ensure transparency by piloting a blockchain pilot.
According to a recent press release, AdLedger, the nonprofit consortium that develops shared ledger technologies for the advertising industry, Salon Media and IBM are piloting a proof-of-concept (POC) blockchain product.
This is the first POC for Adledger, which was created last year with a mission to bring transparency to the ad supply chain.
The goal of the POC is to ensure that Salon Media has complete transparency with regards to its Ad inventory using IBM’s blockchain platform.
Ryan Nathanson, chief operating officer of Salon Media Group, said in a statement that, “This proof of concept will not only help publishers like us regain more control over our inventory, but will also illuminate where inefficiencies exist within the long and complex supply chain,” adding “The shared ledger on the blockchain will act as a single source of truth, creating indisputable transparency for both the brand itself and the publisher, which will aid in greater accuracy during reconciliation as well as make advertiser spend much more efficient.”
“This is not only a proof of concept for what blockchain is capable of, but how it can help companies make informed decisions about the rules and standards needed for a transparent, shared ledger,” said Christiana Cacciapuoti, Executive Director of AdLedger. “With the digital advertising industry plagued by fraud, transparency, and brand safety issues, we’re using blockchain to indicate to everyone that there is light at the end of the tunnel.”
IBM has been very active in the blockchain space, and it has many pilot schemes in place with some of the worlds’ leading firms. In the last month, IBM and Unilever are already underway with the first Blockchain solution for media buying. Using IBM Blockchain and designed by IBM iX, the solution will start with basic financial reconciliation solutions for digital media buying and will lay the foundation for solving multiple problems across the ecosystem.
"The digital advertising supply chain is notoriously broken. Dimes on the dollar that are lost today can be traced back to issues with transparency and trust,” said Chad Andrews, Global Solutions Leader, Advertising and Blockchain, IBM. "To effectively work together, marketers and publishers need to know how media is purchased, how it’s being delivered and that payment is being made. Blockchain can restore confidence in digital advertising and help advertising dollars go further by creating greater transparency –providing a single source of truth –across all members of the supply chain.”