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Report: Chocolate Giant Hershey Joins Blockchain Advertising Consortium

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According to a report by AdWeek dated March 26, AdLedger (blockchain based consortium) has taken on board The Hershey Company (Leading chocolate giant based in America). Reports suggest that Hershey along with Publics Media (French media group) and GABBCON (Global Audience based Buying Conference & Consultancy) have joined AdLedger.

AdLedger was found collectively by IBM, Tegna, and MadHive (blockchain firm) in the year 2018 and is essentially a nonprofit consortium that primarily makes shared ledger technologies for advertising markets (digital). Besides advertising, Hershey’s stationing of blockchain technology could be taken further to function in chocolate factories and can be used for tracing cocoa “from bean to bar.”

According to Vinny Rinaldi, head – addressable media and technology (Hershey), “This would be a fundamentally massive shift in the way that we think.” As reported earlier, there is an absence of transparency in terms of data and process. Blockchain technology essentially fills this void, making all the information available to anyone who needs it within the ecosystem on how publishers verify their traffic, the mechanism by which advertising agencies and other such agencies follow in order to be sure that they work with publishers with traffic which has been verified.

In 2018, IBM along with Salon Media administered a blockchain proof-of-concept product named ‘The Campaign Reconciliation Project’ which was developed by AdLedger. The intention of the product is to short-circuit negotiators between consumer, advertisers, and publishers, which at present, render industry exposed to fraud like domain spoofing and bot fraud.

In the month of October (2018) Toyota, A Japanese car manufacturing giant joined hands with Lucidity (blockchain advertising analytics firm) in order to reduce frauds at the time of buying digital advertisements. In accordance with Toyota’s collaboration with Lucidity, Toyota and Saatchi & Saatchi (global ads agency) were in pursuit to attain transparency in Toyota’s digital ad campaign buys and eliminates extra spending.

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