McDonald Nestlé and Virgin Media will test Blockchain Advertising Solution

McDonald’s, Nestlé and Virgin Media have joined a new pilot blockchain project aimed at increasing the transparency of advertising on the Internet.

The new initiative, developed by the Joint Industry Committee for Web Standards (JICWEBS) – the British Joint Trade Standards Authority for Digital Advertising – aims to assess the blockchain’s potential in the digital advertising supply chain, reports
Campaign agency.

Pilot blockchain project JICWEBS was first announced
in May and now it is joined by McDonald’s, Nestle and Virgin Media, as well as major media agencies: Zenith, OMD UK and Manning Gottlieb OMD, which will evaluate the blockchain’s potential in the digital advertising industry until the end of 2019.

In particular, participants will test not only the potential of the blockchain to increase trust and transparency in the supply chain of advertising, but also explore the possibilities of technology to improve operational efficiency and return on investment. Kat Howcroft, senior media manager at McDonald’s, said:

“This technology gives us the opportunity to see a truly transparent picture of our investments in the digital supply chain. We also seek to understand the potential impact it can have on our profitability and efficiency. ”

According to the report, JICWEBS testing is supported by Fiducia, a London-based technology company. Jicwebs notes that he will provide advice to companies on the inclusion of blockchain solutions in the digital advertising industry, if the testing is successful.

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Blockchain gradually penetrates into all areas of business, including the advertising industry. Last autumn, the Japanese automaker Toyota signed
cooperation agreement with blockchain-company Lucidity to reduce frauds when buying advertisements.