Leading Chocolate Brand Hershey’s Joins Blockchain Advertising Consortium Adledger
AdLedger, a blockchain-based company, has on-boarded The Hershey Company, a leading American chocolate production company. Hershey, along with French media group Publicis Media and The Global Audience Based Buying Conference & Consultancy (GABBCON), has collaborated with AdLedger. Besides advertising, Hershey will also deploy Blockchain technology for its operation of chocolate factories, facilitating tracing of cacao “from bean to bar.”
Generally, advertising lacks the transparency of data and process. Blockchain has addressed this issue by making sufficient information available to everyone within the ecosystem. One can now check how publishers verify their traffic and the processes that ad agencies and other intermediaries follow to ensure that they work with publishers with verified traffic.
AdLedger is a non-profit ‘research and development’ consortium founded by IBM, Tegna and Blockchain company MadHive in 2018. It designs and develops shared ledger technologies for the digital advertising market.
AdLedger is adding varied companies from reputable industry to its portfolio, including GroupM, Omnicom and Coindesk IPG Reprise Digital. The board has twofold benefits: first, to gather feedback from respected players and stakeholders; second, attempt to signal to the broader digital advertising ecosystem that blockchain is more than a stale saying.
In 2018, AdLedger created a product namely “The Campaign Reconciliation Project” whose proof-of-concept was mastered by IBM and Salon Media. The product will short-circuit intermediaries between advertisers, publishers, and consumers, which currently render the industry vulnerable to high-tech ad fraud, such as bot fraud and domain spoofing. The aim is to improve transparency and cut cycle times by simplifying time-consuming reconciliation processes.
During this announcement, Vinny Rinaldi, the Head of Media and Technology at The Hershey Company, said he was interested in the technology back in 2017 as Vice President of Audience Platforms for Dentsu Aegis. He further added, digital ad campaigns that incorporate blockchain could potentially help with measurement, and he has been in talks with a few blockchain companies like Amino Payments that deals in blockchain-based programmatic advertising.
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