Kochava introduced XCHNG technology to equip the digital advertising industry with an open and unified blockchain framework. Now several ad industry vets have joined the company's advisory board to further the development of the platform and the payment system.
Bob Walczak, former executive vice president of global products at WPP's programmatic ad-buying platform, Xaxis; David Wachsman, crypto expert and founder of blockchain communications firm, Wachsman; and Ernie Cormier, angel investor and former chief product officer at AOL Platforms, have all joined.
Charles Manning, XCHNG CEO, has more than 20 years of experience in the advertising space. He believes the industry will move toward token-generated events and have the ability to manage large transaction volumes in ad buys.
XCHNG, an independent framework built by the team at Kochava, which focuses on digital advertising measurement and attribution technology, is built and tested to handle millions of transactions per second through a combination of innovations in blockchain such as a "Daily Rolling Chain," which the company defines as a smart contract that can only validate a daily transaction for an open contract on one given day, not a series of days. In theory, this process aims to speed and validate transactions.
As a founding member of the Interactive Advertising Bureau's (IAB's) Blockchain Tech Lab, the XCHNG team has designed the framework as an open industry standard, built with advertising in mind. Other members joining XCHNG’s board of advisors include:
Andy Sippel, SVP of Advertiser Perceptions, previously SVP of USA Today Sports Media Group; Jeremy Sigel, Global SVP of Partnerships & Emerging Media at Essence; Lou Severine, CEO of NYIAX and previously SVP of AOL and Microsoft; Terrence Coles, GM at AddApptr GmbH, previously GM at Smaato; Jeff Coon, former VP of Global Alliances at InMobi and previously Head of BD at Quantcast; Mark Beck, VP Strategy at Murka; Paul Cheng, GM of Ericsson Emodo; Krish Sailam, VP Programmatic Strategy at Cadreon; Stéphane Panyasiri, CEO of Newagency; and Kevin Weatherman, VP of BD at OneSignal and previously VP of BD/Sales at MoPub and Director of Global Publisher Sales at Twitter, have joined the group.
The XCHNG Token (XT), scheduled for release in early 2018, will power the XCHNG framework. Advertisers will use the tokens to buy and sell media or pay for services surrounding media transactions. XCHNG has been built to enable market-driven payment providers who can facilitate escrow, fiat conversion, or payment depending on the needs of the participants in an IO. The digitization and tokenization of IOs will thereby treat digital ads as a true asset class.