On Wednesday Nestlé, McDonald’s and Virgin Media became the first brands to enlist in the blockchain pilot run by JICWEBS, a U.K. cross-industry body working to optimize digital advertising. The project aims to resolve the trust, transparency and inefficiency problems faced by the industry.
Joint Industry Committee for Web Standards (JICWEBS) has partnered with London-based tech company
FIDUCIA for the pilot project. The initiative will evaluate the application of blockchain or Distributed Ledger Technology (DLT) in digital advertising, and the pilot will run for the rest of the year.
The objective of the blockchain project is to provide end-to-end supply chain transparency and clarity around advertising spend. It’s likely to see additional participants, including publishers and technology vendors in the coming months.
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