The holding network is represented in the consortium by iProspect, who joins the likes of consultancy firm Futurs.io, Mondadori MediaConnect and adtech platforms Smart and S4M, to address the problem of the increasing number of intermediaries in the programmatic supply chain jumbled in between the publisher and the advertiser.
The Adschain Consortium plans to do this by leveraging blockchain technology to bring more security to the entire programmatic supply chain by making the intermediary actors for each impression transaction transparent.
That means advertisers can declare a list of authorised buyers and publishers can also communicate an official list of authorized resellers. These authorised agents can automate reference to this open ledger before any transaction to validate legitimacy.
Both supply-side platforms and demand-side platforms have access to the same information to eliminate unauthorised sellers or buyers in the programmatic supply chain. This distributed ledger protocol will be based on Ethereum to provides more transparency, trust, security and traceability to the entire programmatic supply chain.
The world biggest advertising agency WPP has a similar blockchain consortium, called ‘Project Proton’, led by Mindshare and consists of MediaMath, Integral Ad Science and Rubicon Project.
Gowthaman Ragothaman, chief development officer for the Asia Pacific, Middle East, and Africa at Mindshare previously spoke at length with The Drum about the consortium's blockchain plans, though warning that it was still early days.