First digital advertising blockchain solution launched
LA-based MetaX’s new adChain protocol allows for the coordination of digital advertising supply chains using blockchain.
“Innovation in digital advertising is growing faster than our standard industry protocols can support,” says MetaX CEO Ken Brook. “This has created gaps in the ecosystem that can be exploited.
A major issue in the advertising issue is fraud. The company hopes to bring the transparency and security of blockchain to bear on this problem.
WHY BLOCKCHAIN IS RIGHT FOR DIGITAL ADVERTISING
The current advertising system is mostly built on a foundation of trust between buyers, sellers and wide constellation of third party entities. Blockchain can provide a detailed audit trail, meaning that advertisers have a scalable way or tracking and verifying all advertising impressions. Teaming up with ConsenSys, the end result is adChain.
The team claims this Ethereum based protocol works across all digital advertising channels, allowing all participants in the supply chain to coordinate. The resulting ecosystem is free of fraud, malware and bot traffic.
The solution is already garnering praise from the industry, with Data & Marketing Association (DMA) CEO Thomas Benton saying:
“It’s inspiring to see smart start-ups take on providing innovative solution to challenges in our industry that are resulting fraud and injuring marketers’ relationship with their customers.
“DMA is eager to see its members, like MetaX provide innovative and trust-based solutions that support the client and supply sides of industry around ad-fraud and other system-wide pain points.”
The MetaX platform is currently in operation with private beta partners.