A pilot program is underway to get beyond the hype of Blockchain applications in digital advertising and demonstrate the value of the technology. According to a press release, Tuesday, the initiative, by the IAB Technology Laboratory Blockchain Working Group, will provide a real-world mechanism for testing blockchain-based products and services, with a goal of applying learnings to develop an industry whitepaper outlining best practices and ultimately to develop standards to support the application of the technology.
Featured among the working group are FusionSeven, Kochava Labs, Lucidity, and MetaX. Their pilots will also encompass supply chain partners including advertisers, agencies, publishers, and technology vendors.
“We’re dedicated to understanding advertisers’ and publishers’ needs and exploring emerging and established technologies that can solve real problems in digital advertising – in support of a clean, scalable, and efficient ecosystem,” said Dennis Buchheim, Senior Vice President and General Manager, IAB Tech Lab, in the statement. “The Blockchain Working Group, which has over 150 member companies, is at the forefront of exploring industry standards and use cases for blockchain in digital advertising, and we’re looking forward to even more forward-thinking brands and key players joining the conversation.”
One pilot utilizes Lucidity’s ‘Layer 2’ infrastructure protocol to verify impressions to provide programmatic supply chain transparency through a neutral, decentralized shared ledger — capable of processing and verifying high volumes of data from multiple parties to reach consensus on the blockchain. This initial work will be followed by a series of pilots including fee transparency, digital publisher signature, and audience verification.
Under the project aegis, MetaX has launched its adChain Registry, which is a blockchain-driven list of brand-safe sites determined by token holders.
“There has been a lot of hype about blockchain, but no industry-backed, practical validation of its value for digital advertising—until now,” said Sam Kim, CEO, Lucidity. “It is vital that we begin testing and utilizing blockchain technology to address major pain points in programmatic from data discrepancies to supply chain transparency. We are excited to work with the IAB Tech Lab and other members to uncover insights and learnings that can drive the entire industry forward.”