First participants announced in JICWEBS blockchain pilot, aiming to increase trust and transparency in digital advertising
London 16th July 2019: JICWEBS Ltd – the cross-industry body who define standards and best practice for digital advertising – today announced the first participants in their pilot project which will evaluate how blockchain or Distributed Ledger Technology (DLT) – can help to resolve the trust, transparency and inefficiency problems the digital advertising industry is facing.
Nestlé, McDonald’s and Virgin Media are the first brands to take advantage of the initial stage of the pilot which aims to 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.
The brands are joined by their respective media agencies Zenith, OMD UK and Manning Gottlieb OMD in the trial. As the project develops and the supply chain mapping is completed, additional participants will be announced, including publishers and technology vendors.
Steven Pollack, Head of Media Communications, Nestlé commented “We’re really excited to be involved in this pilot. 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 its potential in programmatic.”
Kat Howcroft, Senior Media and Budget Manager, McDonald’s UK&I added “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.”
JICWEBS has partnered with London-based tech business FIDUCIA for the pilot which it plans to run across the rest of the year. If successful, JICWEBS will consult with the industry on how best to roll this out in 2020 to raise levels of trust and transparency in digital advertising.