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Richard Adrian
Jul 19, 2019
by Richard Adrian

Nestle, McDonald’s and Virgin Media enters Blockchain trial

nestle
McDonald’s, nestle and virgin media are the first of major brands to sign up for Joint Industry Committee for Web Standards (Jicwebs) Blockchain trial.  JICWEBS oversees the independent development of Good Practice and Standards for digital ad trading. The aim of this piloting phase is to increase trust and transparency in digital advertising.

The body called for businesses to take part in the piloting earlier this year. In addition, it said it would evaluate and analyze; how Blockchain could help boost the efficiency and transparency of digital ad buys. Importantly, the pilot phase will run until the end of the year.

The first initial three advertisers out of the gate will participate in the trials for the reminder of the year. Besides, Jicwebs will use the first phase of this test to the impact of Blockchain solutions that provide "end-to-end supply chain transparency and clarity around advertising spend."

Additionally, further phases of the trial will emphasize on optimizing the supply chain; and gaining operational efficiencies for all involved participants.

Digital Supply Chain

According to senior media and budget manager at McDonald’s Kat Howcroft, Blockchain “offers us the opportunity to see a truly transparent picture of our investment across the digital supply chain. We are also eager to understand the potential impact that this may have on our ROI and efficiency.”

Nestle, McDonald’s and virgin media will be joined by their media agencies Zenith; OMD UK and Manning Gottlieb OMD in the trial.

Moreover, as the project progresses and the supply chain mapping are complete, Jicwebs will announce additional participants. These will include technology vendors and publishers.

Steven Pollack, Nestles head of media communications said that, "Blockchain is a new technology being tested in many diverse industries. It’s great to be one of the first brands to gain insight into its potential in programmatic." He also added that they were glad to participate in this project.5q

In conclusion

However, although brands like Nestle and Unilever are investing in the technology, commentators have warned that it's not a "silver bullet” to the issues affecting advertisers in the digital space.

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Nestle, McDonald’s and Virgin Media enters Blockchain trial
Richard Adrian
Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

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