Kentucky Fried Chicken (KFC), the popular fast-food chain, has turned to blockchain to manage its digital advertising supply chain.
KFC launched its blockchain pilot program in the Middle East in a bid to improve its digital advertising and media purchases. The company hopes that this decentralization will bring much-needed transparency to the digital advertising market, reported a local media publication.
KFC is hoping that the blockchain initiative will not only bring more transparency to data processing but also increase its brand visibility and penetration, which is currently dominated by local fast food joints. The use of blockchain would also offer publishers, advertisers and consumers a higher level of privacy and security.
Experimentation with Blockchain and cryptocurrencies has been on the rise recently with several beverage and food companies. While Blockchain is slowly becoming a choice for supply chain management by various firms, cryptocurrency as a form of payment is also gaining traction.
Starbucks is a prominent brand that's been testing crypto payments in certain parts of the world, recently it also started testing for China’s national digital currency along with McDonald’s and other universal fast food joints.
Even KFC has experimented with cryptocurrency payments back in 2018 when its Canada based food joints started offering ‘Bitcoin Bucket.’ in an updated menu. And as the name suggests users can buy this bucket by paying in Bitcoin.
In early 2016, the fast-food franchise, Burger King was another company that started accepting Bitcoin payments from their customers. A Burger King in the Netherland’s was the first to begin the initiative, Germany then made paying with an app and website available for payments with BTC as well.
KFC Aims to Revamp its Digital Advertising With Blockchain
KFC is hoping to cut down cases of fraud in its digital advertising domain by using a shared blockchain-based database with its partners which would allow media partners to keep track of all ads delivery and placement with authorized parties.
This shared common database would be updated in real-time which would allow the firm the resolve any cases of fraud associated with advertising. KFC's Yum! Brands Ozge Zoralioglu, chief marketing officer stating:
“KFC can now benefit from enhanced visibility of real-time data and the most updated insights – all with full confidence that information is authenticated, tamper-proof and hence credible.”
Blockchain offers a non-mutable form of data recording without the need for human intervention and that is what makes it such a lucrative form of data management tool.
The other factor which makes Blockchain such a favourite is its versatility and scope for improvements, and this is one of the prominent reasons that many mainstream tech firms like IBM and Accenture are investing heavily in the technology, while other consumer-based service providers are integrating the technology in their business model.