Blockchain technology can increase advertising transparency and improve data security, as well as streamline the digital-advertising supply chain. This is something media agencies and marketers have called for in the last several years.
The group says there is “potential of a real-time, blockchain-based, peer-to-peer network to lower costs for publishers, while increasing transparency and ROI for advertisers.”
Some have called the “blockchain” nearly tamper-proof.
The consortium, citing the IAB, says the ad industry loses an average of $8.2 billion per year, in a combination of “fraud and supply-chain weakness.”
Founding AdLedger members include tech companies IBM, MadHive, Integral Ad Science and TV station group Tegna.
AdLedger will also look at rules and standards for audience segments, regulatory compliance, data uploads and encryption issues.
Babs Rangaiah, executive partner of global marketing of IBM iX , stated: "We are particularly interested in blockchain’s potential to solve many of the issues facing programmatic buying today.”
Jim Wilson, president of Premion, an OTT ad-sales division of Tegna, said such issues include solving frequency capping, attribution and data quality.