Nestlé, McDonald’s, Virgin Media first to test JICWEBS blockchain solution for digital ad spend transparency



The brands are part of a pilot program using a distributed ledger technology platform aimed at creating greater efficiencies within the digital ad ecosystem.
Nestlé, McDonald’s and Virgin Media have signed on to be part of a pilot program by JICWEBS to test whether or not blockchain technology can accurately deliver “end-to-end supply chain transparency and clarity” on digital ad spend.
“Blockchain is a new technology being tested in many diverse industries. It’s great to be one of the first brands to gain insight into it potential in programmatic,” said Nestlé’s Head of Media Communications Steven Pollack.
The digital advertising industry has suffered from transparency challenges since its start. From programmatic ad fraud to brand safety issues, programmatic ad buyers are left to trust a network of ad tech vendors and platforms that is difficult to track with limited oversight.
By implementing a blockchain — or distributed ledger technology (DTS) — JICWEBS aims to solve the most rampant challenges within the digital ad industry.
“This technology offers us the opportunity to see a truly transparent picture of our investment across the digital supply chain. We are also eager to understand the potential impact that this may have on our ROI and efficiency,” said McDonald’s UK&I Senior Media and Budget Manager Kat Howcroft.
Industry bodies join forces to evaluate the benefits of blockchain and Distributed Ledger Technology (DLT) on the transparency and trust issues around the digital advertising supply chain and in the field of search engine optimization to enhance the business online and increase their visibility in search engine result pages.
JICWEBS, the UK digital ad trading standards body, is asking advertisers, media owners and other parties involved in digital advertising to support a pilot project which will evaluate how blockchain, or DLT (Distributed Ledger Technology) can help boost efficiency and transparency.
Jules Kendrick, CEO of JICWEBS, said: “It is crucial the advertising and media industries show why we should trust the digital advertising supply chain. This pilot project – which will run throughout the rest of the year – should show us how DLT can contribute to resolve the trust, transparency and efficiency problems we face today.”
JICWEBS, which consists of the following media and advertising industry bodies, AOP (Association of Online Publishers), IAB (Internet Advertising Bureau), IPA (Institute of Practitioners in Advertising) and ISBA (the body which represents the UK’s leading advertisers), has partnered with London-based tech business FIDUCIA for the pilot which it plans to run across the rest of the year.
Tim Brown, CEO of FIDUCIA explained: “Our impression-level DLT technology platform should easily integrate with existing industry solutions and help resolve technology challenges to help evaluate how it might boost effectiveness.”
Nigel Gwilliam, Director of Media Affairs at the IPA, added: “We want businesses from all areas of digital advertising to take part, including advertisers, agencies, trading desks, demand-side platforms (DSP), supply-side platforms (SSP), exchanges, publishers and verification companies.”
If successful, JICWEBS plans to consult with the industry on how best to roll this out in 2020 to raise levels of trust and transparency in the sector.
Stephen Chester, Director of Media, ISBA, commented: “We are really looking forward to seeing the results from the pilot project. This is a pivotal time for digital media and we’re keen to see if this technology can bring much needed clarity to the digital advertising supply chain so that advertisers can trust their budgets are being used effectively.”

Comments

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  2. Web Development Silverthorneo CO25 December 2019 at 22:46

    We are also eager to understand the potential impact that this may have on our ROI and efficiency.

    ReplyDelete
  3. Web Designing Services in Avon15 January 2020 at 02:17

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