IBM iX and Mediaocean have lifted the lid on a blockchain network geared towards bringing greater simplicity to the digital media supply chain with brands and publishers including Kellogg's, Kimberly Clark, IBM Watson Advertising and Unilever all on board at launch.
The pair made the announcement as the second day of Cannes Lions Festival of Creativity kicked off.
They claimed that the existing manual auditing solutions currently on offer to the market are too siloed and leave marketers exposed to the risks of fraudulent actors in the market. The newly unveiled program, which is powered by the IBM Blockchain Platform and built on top of Mediaocean’s campaign management platform, looks to solve this when it launches in July.
The platform records all media transactions – from issuing of the purchase order, to the execution of media and payment – in a secure, standardized, and comprehensive manner – made possible by the use of blockchain, with IBM claiming it will provide a “sing source of truth for every media buy”.
Commenting on his outfit’s participation in the scheme, Mukund Kaushik, Kimberly-Clark, VP digital capabilities and innovation, said: “We must innovate our approach to the market by looking for new technologies like blockchain to help solve complex business challenges.”
Bill Wise, Mediaocean, chief executive officer, said the era of automated trading platforms a truly transparent would require the participation from multiple tiers of the industry.
“We’re entering into a new era of accountable marketing in which we are coming together under one secure, transparent, and integrated source of truth – that truth, will live within the Mediaocean blockchain solution,” he added.
Babs Rangaiah, IBM iX, executive partner, global marketing, commented: “Measurement and transparency require new solutions across the programmatic supply chain and blockchain is a technology embedded in trust. It will bring tremendous benefits to media buying, especially with industry leaders like Mediaocean leading the charge.”
Earlier in the year, Keith Weed, Unilever’s marketing chief, used his IAB Leadership Summit keynote address to reveal how the FMCG-giant is working with IBM to create a solution that will streamline the digital media buying process, minimize the risk of manipulation and provide greater transparency for advertisers.