AdLedger Welcomes The Hershey Company to Blockchain-Based Advertising Group
The Hershey’s Company is easily one of the most popular companies in the world, leading the chocolate production industry in America.
With the progress that blockchain technology is making various industries, it should not come as a surprise that these two massive industries are finally making a connection within AdLedger. In an article on Adweek, it was revealed that AdLedger onboarded the chocolate company.
The recent addition to AdLedger includes Hershey, along with Publicis Media and The Global Audience Based Buying Conference & Consultancy (GABBCON). The blockchain-based consortium was developed as a project between Tegna, IBM, and MadHive last year, acting as a non-profit. The main focus of the group is to create shared ledger fintech, which helps to further the digital advertising market.
The use of blockchain with Hershey could help with the operation of their factories, storing information “form bean to bar,” as Vinny Rinaldi of The Hershey Company says. He added that the implementation of this type of technology would cause a “fundamentally massive shift.”
In August, CoinTelegraph reported on advertising, which does not have the transparency that would otherwise help consumers make an educated decision.
Blockchain helps with this concern, publicizing the information to everyone with access to the ledger. It even includes the processes that the involved ad agencies and other entities need to make sure they only work with the publishers that have verified traffic.
“The Campaign Reconciliation Project” was initiated last year by IBM and Salon Media, acting as a trial of a proof-of-concept blockchain that came from AdLedger. The product was meant to create a smaller connection between intermediaries and the advertisers, consumers, and publishers. Presently, those intermediaries are the cause of major vulnerabilities in the way of high-tech ad fraud.
In October, Toyota chose to partner with Lucidity, aiming to reduce fraud for companies that purchase digital advertisements. The partnership allowed Toyota and Saatchi & Saatchi to seek out transparency in the digital ad campaign for Toyota, while reducing the unnecessary spending.