Mediaocean, the foundational software provider of the advertising world, and IBM iX, one of the world's largest digital agencies and global business design partners, announced the launch of a blockchain consortium for the digital media supply chain.
Bringing together some of the world’s largest advertisers, agencies and publishers, including Kellogg, Kimberly-Clark, Pfizer, Unilever and IBM Watson Advertising, the solution aims to provide transparency and build trust and accountability in the advertising ecosystem. The new blockchain solution will provide a comprehensive, timely and actionable view of the supply chain. It will tackle supply chain opacity from the rapid proliferation of intermediaries, which makes it difficult for advertisers and agencies to identify exactly how much spend is going towards "working media.
Built on top of Mediaocean’s end-to-end campaign management platform, which today processes over $140 billion in ad spend and is trusted by all agency holding companies, the solution aims to provide visibility into the entire lifecycle of an advertiser’s media dollar flow. From issuing of the purchase order, to the execution of media and payment, a blockchain is used to record all media transactions in a secure, immutable, standardized and comprehensive manner. The program will launch in July.
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