IBM to Use Blockchain in Advertising Industry

IBM iX together with Mediaocean created a blockchain consortium, which intends to use the DLT to increase the transparency of the advertising industry
20 June 2018   346

Mediaocean and the division of the "blue giant" IBM iX have created a blockchain consortium, specializing in the advertising industry.

The new organization intends to use the technology of the distributed ledger to increase the transparency of the advertising industry. In the opinion of its participants, the use of a detachment, in particular, will help improve control over spending of funds allocated for advertising campaigns. The consortium also includes such well-known companies as Kellogg's, Kimberly-Clark, Pfizer and Unilever.

In recent years, ... the industry has been plagued with unsustainable economics and transparency issues that hinder progress – particularly around intermediary fees and non-working media. By partnering with IBM, we're able to launch the first advertising blockchain solution that will improve spend transparency – at scale.

Bill Wise

CEO, Mediaocean

According to representatives of IBM iX, the blockchain is able to provide a "a single source of truth to any given media buy, eliminating the doubt and uncertainty that is common today".

A test version of the new blockchain solution for the advertising industry will be presented in July this year.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   92

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.