Topnotch company Nestlé (a food and beverage firm), McDonald’s (a US fast food firm) and Virgin Media Ltd (a UK telecom company) have engaged in the JICWEBS distributed ledger tech (DLT) trial to enhance trust as well as transparency in digital advertising. JICWEBS was formed by the United Kingdom and Ireland media sector to guarantee independence, maverick and affinity of measurement on the web.
Earlier in 2019, JICWEBS published a call for industries to chip in the trial, revealing that it would assess how effectively the DLT could enable improve the productivity and transparency of digital ads.
The first 3 individuals or businesses to advertise using this platform will continue chipping in this trial for the rest of this year. JICWEBS revealed that it will ascertain the bearing of DLT solutions which offer “end-to-end supply chain simplicity around ad spend,” within the first phase of the pilot. The next stages of the pilot will then focus at enhancing the supply chain and increase operational efficiencies.
When the scheme matures and the supply chain mapping is successfully accomplished, JICWEBS plan to add other giant partner marques, publishers – these include popular media organizations like Zenith, etc. The UK-based DLT platform Fiducia has also shown its full support to the experiment.
The DLT or blockchain gives the full prospect to appreciate a real clear image of many investments in the entire digital supply chain. Several individuals, businesses and companies are now willing to fathom the latent bearing that DLT has on return on investment, competence as well as efficiency.
In 2017, Walmart partnered with Nestlé to experiment with interlacing distributed ledger tech into its venture and further use this disruptive technology to determine the origin and state of food products. Nestlé is also trying to deploy blockchain technology for dairy products and palm oil.
Blockchain technology is a nascent tech being experimented in several various businesses. Leading technology giants want to be among the first brands to tap acumen into its mainstream potential.