Adledger, Salon Media and IBM to work in association for establishing Blockchain in digital advertising
AdLedger, the organization implementing blockchain standards for digital advertising is joining hands with IBM and Salon Media for a proof of concept project. The project aim is to leverage a shared ledger. The shared ledger can then deliver more transparency and clarity via Blockchain.
Christiana Cacciapuoti, Executive Director of AdLedger stated, “This is not only a proof of concept for what blockchain is capable of, but how it can help companies make informed decisions about the rules and standards needed for a transparent, shared ledger.” She further added, “With the digital advertising industry plagued by fraud, transparency, and brand safety issues, we’re using blockchain to indicate to everyone that there is light at the end of the tunnel.”
Adledger consortium will head the Campaign Reconciliation project. The project will be a layout of Adledger’s mission of creating guidelines for advertising using blockchain.
Salon Media company is the part of this mission with Adledger. Salon Media is participating in it for having control of their publish inventory. Ryan Nathanson, Chief Operating Officer of Salon Media said, “This proof of concept will not only help publishers like us regain more control over our inventory, but it will also illuminate where inefficiencies exist within the long and complex supply chain.”
He further added, “The shared ledger on the blockchain will act as a single source of truth creating indisputable transparency for both the brand itself and the publisher, which will aid in greater accuracy during reconciliation as well as make advertiser spend much more efficient.”
IBM is also a part of this initiative. IBM’s blockchain platform created on Hyperledger Blockchain Fabric will play an important role in the proof of concept project. Their Blockchain platform will assist several industry partners of IBM. IBM will also establish their own authority to assist the participants in writing, accessing and validating data.
Chad Andrews, Global Solutions Leader, Advertising and Blockchain, IBM stated, "The digital advertising supply chain is notoriously broken. Dimes on the dollar that are lost today can be traced back to issues with transparency and trust.”
In addition to this, he said, "To effectively work together, marketers and publishers need to know how media is purchased, how it’s being delivered and that payment is being made. Blockchain can restore confidence in digital advertising and help advertising dollars go further by creating greater transparency –providing a single source of truth –across all members of the supply chain.”
The success of the mission will depend on the feedback of Adledger members participating in it. The key points covered in it will be “ease of use, Faster time to reveal problems with under-delivery, reduction in time spent reconciling campaign data, close to real-time look at campaign spend actuals allowing brands to move dollars around as necessary.”
The founding members of the Adledger consortium are GroupM, IAB, IBM, iSpot.tv, MAD Network, Publicis Media and TEGNA.
AdLedger founding member Adam Helfgott said, “Digital advertising cannot continue to function within the existing paradigm. We need to start over and create a system that is, at its core, based on values and processes that will bring real value to brands, to publishers and, ultimately, to consumers.” He further added, “Putting a band-aid on something that’s fundamentally flawed still leaves you with a broken, outdated system.”
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