AdLedger, the leading blockchain-based consortium officially announced the acquired companies that will join the platform including The Hershey Company which is the most popular American chocolate manufacturing company. For that reason, we are about to find out which other companies joined the AdLedger so let’s read the latest blockchain news.
According to the adweek report, aside the Hershey Company, the French Media Group Publicis Media along with the Global Audience Based Buying Conference and Consultancy (GABBCON) also joined the AdLedger consortium. AdLedger was initially founded by IBM in partnership with MadHive which is also a blockchain company and Tegna in 2018. All of the three companies created a nonprofit consortium that aims to develop shared ledger technologies in order to improve the digital advertising market.
Hershey’s involvement in blockchain technology won’t only focus on advertising. The company will expand its operations in many of their chocolate factories by using blockchain technology to trace the cacao from bean to the final product, according to Vinny Rinaldi who is the head of addressable media and technology for the Hershey Company. He added:
“This would be a fundamentally massive shift in the way that we think.’’
As previous reported back in August 2018, the entire concept of advertising has a lack of transparency of the existing data but also of the entire process of gathering it. Blockchain can help solve these issues or at least address them by making a good amount of the information available for everyone who joins the ecosystem where it can be easily seen how publishers verify tactics and how ad agencies follow and learn how to work with publishers and the already verified traffic.
Last year for example, IBM partnered with Salon Media and piloted successfully a proof-of-concept blockchain product named ‘’The Campaign Reconciliation Project’’ which was created by AdLedger. This project aims to cut the intermediaries between publishers, consumers and advertisers.
Also, Toyota, the popular Japanese car manufacturer, announced its partnership with a blockchain advertising analytics company Lucidity in order to eliminate fraud when buying digital ads. Toyota aimed to bring transparency in the digital ad campaign of the company and to eliminate wasted spending.
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