MetaX Launches Blockchain Digital Advertising Supply Chain Solution
MetaX is bringing blockchain technology for the digital advertising ecosystem. The MetaX platform allows the digital advertising supply chain to coordinate in a scalable, trustworthy and secure way using the blockchain. It is currently in operation with select private beta partners.
Ken Brook, co-founder and CEO of MetaX, said: “Innovation in digital advertising is growing faster than our standard industry protocols can support. This has created gaps in the ecosystem that can be exploited. Blockchain has a number of exciting implications for digital advertising. Fraud prevention is a natural first application given the transparency and security blockchain brings, and because fraud is such a major issue for the advertising sector.”
ConsenSys, the blockchain experts, were contacted by MetaX to co-build adChain, a blockchain-based protocol that powers the ad-centric applications MetaX is bringing to market for the digital advertising industry. The adChain protocol works across all digital advertising channels and enables participants across the supply chain – from advertisers to DSPs to publishers to safety vendors – to coordinate and work together in an ecosystem free of fraud, bot traffic and malware.
Founder of ConsenSys, Joseph Lubin commented: “The digital advertising industry is experiencing tremendous growth while increasingly struggling with problems like ad fraud, offering an ideal use case for blockchain technology. The MetaX team are experts in digital advertising. It was a perfect complement to work with us, the largest blockchain startup, in helping the industry solve these problems and become more efficient and transparent. The development of the adChain protocol on the Ethereum platform brings a powerful and unparalleled approach toward reaching these goals,”
Using blockchain will provide a detailed audit trail, auditable transactions and an immutable ledger. The end result is a scalable, trustworthy solution for tracking and verifying all advertising impressions. It enables fraud to be identified and blacklisted in real time at a protocol level, reconcile and collate data and secure event data.
Thomas Benton, CEO of the Data & Marketing Association, remarked: “It’s inspiring to see smart start-ups take on providing innovative solutions to challenges in our industry that are resulting in fraud and injuring marketers’ relationships with their customers. As the only trade association in marketing and advertising that represents all parts of the ecosystem equally, DMA is eager to see its members, like MetaX, provide innovative and trust-based solutions that support the client and supply sides of our industry around ad-fraud and other system-wide pain points.”