July 16, 2019 - Rebecca Stewart of The Drum writes: McDonald's, Virgin Media and Nestlé are the first brands to sign up for a blockchain pilot spearheaded by the Joint Industry Committee for Web Standards (Jicwebs), with the aim of increasing trust and transparency in digital advertising.
The cross-industry trade body issued a call for businesses to take part in the pilot earlier this year, saying it would evaluate how blockchain, or distributed ledger technology (DLT), could help boost the efficiency and transparency of digital ad buys.
The first three advertisers out of the gate will participate in the trial for the remainder of 2019. Jicwebs said it will use the first round of tests to measure the impact of blockchain solutions that provide "end-to-end supply chain transparency and clarity around advertising spend."
Further stages of the trial will look to "optimise the supply chain and gain operational efficiencies for all involved."
Kat Howcroft, senior media and budget manager at McDonald’s, said: “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.”
Nestlé, McDonald's and Virgin Media will be joined by their respective media agencies Zenith, OMD UK and Manning Gottlieb OMD in the experiment. More...