Major brands including McDonald’s, Nestlé, and Virgin Media have joined a blockchain pilot developed by the Joint Industry Committee for Web Standards (Jicwebs), a British United digital ad trading standards body.
The project, which was first announced in May, focuses on assessing the potential of the technology in the digital ad supply chain and looking to increase transparency.
As reported by CoinTelegraph global industry giants, such as OMD UK and Manning Gottlieb OMD, along with Zenith, have also joined the pilot to evaluate blockchain’s capabilities in the digital ad industry for the rest of 2019. These agencies will not only assess the technology’s potential in increasing trust and transparency in the ad supply chain, but also to boost operational efficiency and return on investment (ROI).
Kat Howcroft, senior media and budget manager at McDonald’s, said: “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.”
In early July, Nestlé collaborated with the OpenSC blockchain platform, making it the first major food conglomerate to pilot open blockchain technology and instigating transparency. The first stage of the pilot includes tracing milk from farms and producers in New Zealand to the company’s factories and warehouses in the Middle East region. After this, the technology will be tested by using palm oil sourced in the Americas, allowing the company to understand how scalable and beneficial the system is.
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