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Hershey Joins IBM-backed Blockchain Advertising Consortium

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Chocolate maker The Hershey Co. joined Blockchain Advertising consortium AdLedger, which was co-founded by tech giant IBM, according to media outlet AdWeek.

The consortium was developing two Blockchain proof-of-concepts aimed at increasing transparency and data security for advertisers and publishers.

Vinny Rinaldi, head of addressable media and technology for Hershey, reportedly said that apart from advertising, the company's deployment of blockchain technology could be expanded to the operation of chocolate factories, facilitating tracing of cacao from bean to bar.

AdLedger is a nonprofit research and development consortium charged with implementing global technical standards and solutions for the digital media and blockchain industries. The consortium was founded in 2018 by IBM, Tegna and blockchain company MadHive.

Along with Hershey, French media group Publicis Media as well as The Global Audience Based Buying Conference & Consultancy or GABBCON also joined the blockchain consortium.

Last year, IBM and Salon Media had piloted a proof-of-concept blockchain product created by AdLedger. The product, dubbed "The Campaign Reconciliation Project", was set to short-circuit intermediaries between advertisers, publishers and consumers.

In last October, Japanese automotive giant Toyota partnered with blockchain advertising analytics company Lucidity to introduce transparency into Toyota's digital ad campaign buy and eliminate wasted spend.

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