A variety of startups are using blockchain as a way to add transparency to the notoriously opaque ad tech system, including NYIAX, Kiip, Kochava and MetaX.
And now a new ad-focused blockchain consortium has recently been announced this month by heavyweights IBM — through its iX digital agency — and advertising software provider MediaOcean. It already counts ad giants Unilever, Pfizer, Kimberly-Clark, Kellogg and IBM Watson Advertising among its inaugural participants.
The as-yet-unnamed consortium, unveiled last month at Cannes Lions Festival of Creativity, is powered by the blockchain protocol developed by IBM and made open source, called Hyperledger. The blockchain environment will be built on Mediaocean’s campaign management platform, which already handles more than $140 billion in annual ad spending.
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