What’s Going On?
Mediaocean and IBM iX have launched a blockchain consortium for the digital media supply chain designed to build transparency, trust and accountability in the advertising ecosystem.
Why Does It Matter?
The pilot expands an IBM project launched with Unilever in winter, adding more marketers and Mediaocean, described as the back-office middle player for more than $140 billion in annual spending across multiple media by AdAge.
The new platform records all media transactions in a secure, standardised, and comprehensive manner using blockchain, reported The Drum.
The Mediaocean/IBM iX project brings together some of the world’s largest advertisers, agencies and publishers, including Kellogg, Kimberly-Clark, Pfizer, Unilever and IBM Watson Advertising.
“We must innovate our approach to the market by looking for new technologies like blockchain to help solve complex business challenges,” said Mukund Kaushik, VP Digital Capabilities and Innovation for Kimberly-Clark.
Mediaocean CEO Bill Wise added: “By partnering with IBM, we’re able to launch the first advertising blockchain solution that will improve spend transparency – at scale. This will help us come together as an industry under a single source of truth and rebuild trust to push us into a new era of advertising transformation.”
Babs Rangaiah, Executive Partner, Global Marketing, IBM iX, said: “Measurement and transparency require new solutions across the programmatic supply chain and blockchain is a technology strategically used to create an environment of trust. It will bring tremendous benefits to media buying, especially with industry leaders like Mediaocean leading the charge.”