Nestlé, McDonald’s, Virgin Media first to test JICWEBS blockchain solution for digital ad spend transparency
The brands are part of a pilot program using a distributed ledger technology platform aimed at creating greater efficiencies within the digital ad ecosystem.
Nestlé, McDonald’s and Virgin Media have signed on to be part of a pilot program by JICWEBS to test whether or not blockchain technology can accurately deliver “end-to-end supply chain transparency and clarity” on digital ad spend.
“Blockchain is a new technology being tested in many diverse industries. It’s great to be one of the first brands to gain insight into it potential in programmatic,” said Nestlé’s Head of Media Communications Steven Pollack.
Why we should care
The digital advertising industry has suffered from transparency challenges since its start. From programmatic ad fraud to brand safety issues, programmatic ad buyers are left to trust a network of ad tech vendors and platforms that is difficult to track with limited oversight.
By implementing a blockchain — or distributed ledger technology (DTS) — JICWEBS aims to solve the most rampant challenges within the digital ad industry.
“This technology offers us the opportunity to see a truly transparent picture of our investment across the digital supply chain. We are also eager to understand the potential impact that this may have on our ROI and efficiency,” said McDonald’s UK&I Senior Media and Budget Manager Kat Howcroft.
More on the news
- The brands’ agencies — Zenith, OMD UK and Manning Gottlieb OMD — are included in the pilot program.
- JICWEBS said that as the project develops, and the supply chain mapping is complete, more beta users will be announced including publishers and technology vendors.
- JICWEBS first announced the program in May and has partnered with the London-based tech business FIDUCIA to help implement the blockchain solution.