Salon Media Group has formed a partnership with tech giant IBM as well as with AdLedger, a blockchain standards nonprofit with a special focus on digital advertising. The partnership is aimed at developing a blockchain-based proof of concept application in order to enhance advertising campaign reconciliations on the online properties of Salon Media Group. This is expected to enhance the transparency of the ad inventory of Salon Media by using the blockchain platform of IBM.
Using a shared ledger contractual conditions such as impression data and the amount Salon is to receive, data will be recorded in a distributed record system which is fully auditable and immutable. IBM will be involved in assisting in establishing governance around consensus rules and models by which the various participants can access, write and verify data.
Accuracy and transparency
?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,? Salon Media Group’s chief operating officer, Ryan Nathanson, said in a statement.
Salon Media Group is not the only firm that IBM has recently partnered with in an effort to develop blockchain solutions for the advertising industry. Consumer goods giant Unilever has also been using the blockchain platform of IBM to purchase ads in the United States.
Digital ad spend
In 2016 the amount that Unilever spent in the United States on digital advertising was $818 million. Last year however this amount fell by 17% in H1 due to concerns revolving around transparency as well as a lack of tools for measurement.
According to IBM blockchain technology can serve as a solution for security, transparency and quality issues since when transactions are validated they are committed to every ledger that exists on the network instantly. Consequently parties are able to understand where the money was spent and who got what.
Besides IBM the founding members of the AdLedger consortium who have joined hands in the interest of furthering transparency and trust in the digital media landscape include IPG Mediabrands,Tegna, Publicis Media, Mad Network, iSpot.tv, IAB and GroupM.
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