Unilever, O2 and Sky joined blockchain project JICWEBS in the field of digital advertising
JICWEBS first announced the launch of the initiative in may this year. The pilot project involves major media agencies Zenith, OMD UK and Manning Gottlieb OMD. Companies believe that the use of blockchain can increase transparency in the advertising industry, reduce costs and improve advertising efficiency.
Popular online platforms Gumtree, Netmums and Rightmove from the UK have also joined the project, according to the Campaign report.
The jicwebs project is supported by the Incorporated Society of British Advertisers (ISBA). The Association conducts a comprehensive audit of the problems present in the digital advertising sector, as well as considers issues related to increasing trust in brands.
According to Richard Reeves, managing Director of the Association of online publishers, ISBA welcomes all initiatives aimed at increasing transparency to "shed light" on where the advertising budget is allocated in digital supply chains.
If the pilot project on the blockchain is successful, the organizers will be closely engaged in its implementation in the field of digital advertising next year.