One of the largest tech companies in the world IBM had partnered with the software manufacturer Mediaocean in order to launch a blockchain powered tracker solution for digital media transactions.
IBM iX is the business and tech consulting part of the company and by creating this solution they plan to apply the blockchain onto the media ecosystem and as they say “clean things up” on the buying side of the industry.
"The promise of #blockchain will scale the opportunity to clean things up [in media buying]." @rmaster of @Unilever during the announcement of a major partnership between IBM and Mediaocean to integrate blockchain across the media ecosystem. #CannesLions #ReinventMarketing pic.twitter.com/S9Hd8f7JAV
— IBM iX (@IBM_iX) June 19, 2018
This tracker will address the digital ad fraud by disabling payments to the wrong parties. The global marketing partner at IBM iX Babs Rangaiah has said that this blockchain solution will help tracking the flow of funds between media and cut out the middlemen and continues:
“Once you identify where the money is going, who the players are and what each of them are doing, I think you’ll see some redundancies in the supply chain that will allow some of that production money now going to the middle players to come back and hit the publishers.”
This pilot is also planned to reduce the time and cost of the media transactions. It will have many big time media deals for Unilever, Kimberly-Clark Corp, Pfizer, Kellogg and Watson. This will be fully applied b the majority of the digital media industry by the end of 2019 says the Mediaocean CEO Bill Wise and continues:
“I think by the end of next year we will have a fully functioning scalable solution that will be adopted bu the majority of the industry.”