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   725

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.

Old Korean Social Network to Close After Tokensale

Cyworld platform started operating back in 1999 and it conducted an IEO at CoinZest this year
14 October 2019   49

Investors who acquired the clink cryptocurrency issued by the South Korean social network Cyworld are worried about the status of their investments due to the company's sudden closure, reports Korea Times. Some of them are ready to go to court.

The Cyworld platform was launched in 1999 and was especially popular among the country's population until the mid-2000s. The company, however, failed to see the trend towards the development of mobile solutions on time and as a result lost its position in the market. On October 1, it closed her platform without posting any warnings to users.

At the same time, the Clink site was unavailable, and Cyworld management continues to ignore the numerous requests of investors. The Korean exchanges CoinZest and BitSonic, where Clink is still being traded, are considering delisting the asset. Industry officials say Clink's investor losses will be at least 1 billion won ($ 845,000).

Clink's primary distribution was through IEO through the CoinZest platform earlier this year and, according to the Korea Times, it was the company's attempt to bring a fading social network back to life. A total of 24 million Clink tokens were sold for a total of 480 million won ($ 400,000).

In the second half of 2019, employees who have not received salaries since the end of 2018 began to leave the company en masse. Since the start of trading, the Clink price has fallen from 26 won to 0.19 won. According to the Coingecko portal, Clink's current capitalization and revolving volume are unknown, while the marginal issue volume is 10 billion units.