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.
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.