Four media agencies have joined their major advertiser clients as participants in JICWEBS new pilot project, which is evaluating how blockchain can help to permanently resolve issues of trust, transparency and inefficiency in digital advertising.
According to JICWEBS, the body that sets online standards in the UK ad market, the project aims to provide “end-to-end supply chain transparency and clarity” around adspend, plus optimisation and operational efficiences for the entire market.
Mindshare, Zenith, OMG and Havas join Unilever, Nestlé, McDonalds, Virgin Media and O2 as trial participants, alongside businesses from across the supply chain, including publishers and both demand and supply side providers.
“We’re delighted to see so many of our members sign up to these opportunities to enhance transparency across the programmatic supply chain,” said Jon Mew, CEO at digital advertising trade body IAB UK – one of JICWEBS’ founding members.
“I would encourage all IAB members to take part in the JICWEBS pilot.”
London-based tech business FIDUCIA will work with JICWEBS on the pilot, which will be run across the rest of the year. If successful, the industry will be consulted on how best to roll out the technology in 2020.
Meanwhile, ISBA – another JICWEBS founding member – is conducting a separate but complementary study of the supply chain to provide a “snapshot” of some of the major problems the industry is currently facing.
Stephen Chester, director of media, ISBA, said the study – conducted by PwC – will provide the digital advertising industry with the empirical evidence it needs to “underpin and drive forward” any future technological solutions.
