Industry bodies join forces to evaluate the benefits of blockchain and Distributed Ledger Technology (DLT) on the transparency and trust issues around the digital advertising supply chain
JICWEBS, the UK digital ad trading standards body, is asking advertisers, media owners and other parties involved in digital advertising to support a pilot project which will evaluate how blockchain, or DLT (Distributed Ledger Technology) can help boost efficiency and transparency.
Jules Kendrick, CEO of JICWEBS, said: “It is crucial the advertising and media industries show why we should trust the digital advertising supply chain. This pilot project – which will run throughout the rest of the year – should show us how DLT can contribute to resolve the trust, transparency and efficiency problems we face today.”
JICWEBS, which consists of the following media and advertising industry bodies, AOP (Association of Online Publishers), IAB (Internet Advertising Bureau), IPA (Institute of Practitioners in Advertising) and ISBA (the body which represents the UK’s leading advertisers), has partnered with London-based tech business FIDUCIA for the pilot which it plans to run across the rest of the year.
Tim Brown, CEO of FIDUCIA explained: “Our impression-level DLT technology platform should easily integrate with existing industry solutions and help resolve technology challenges to help evaluate how it might boost effectiveness.”
Nigel Gwilliam, Director of Media Affairs at the IPA, added: “We want businesses from all areas of digital advertising to take part, including advertisers, agencies, trading desks, demand-side platforms (DSP), supply-side platforms (SSP), exchanges, publishers and verification companies.”
If successful, JICWEBS plans to turn the pilot into an ‘always on’ platform from 2020 to raise levels of trust and transparency in the sector.
Stephen Chester, Director of Media, ISBA, commented: “We are really looking forward to seeing the results from the pilot project. This is a pivotal time for digital media – with so many concerns over the digital advertising supply chain – and advertisers need to be able to trust that their budgets are being used effectively.”
To find out more about the DLT project, please contact:
JICWEBS Elizabeth Hoar +44 7973 140159
FIDUCIA Tim Brown +44 7836 222522
About JICWEBS:The Joint Industry Committee for Web Standards defines best practice and standards for digital ad trading in the UK and its mission is to deliver recognised trust and transparency to the market. It consists of the four trade bodies: AOP (Association of Online Publishers), Internet Advertising Bureau (IAB) UK , ISBA (the only body representing the UK’s leading advertisers) and the Institute of Practitioners in Advertising (IPA).
About FIDUCIA:FIDUCIA is a UK technology company developing an open source Distributed Ledger Technology Platform providing trust, transparency and operational efficiency to the digital advertising marketplace. FIDUCIA’s patent pending “high frequency” DLT platform has been developed as an industry solution specifically designed to resolve the challenges of implementing DLT technology for digital advertising traded over exchanges. This includes the ability to automate the execution, reconciliation and settlement of advertising campaigns securely, at scale, for a reasonable cost.