OnXCHNG Partnership Program for Blockchain-Based Digital Advertising Platform
Kochava, a digital advertising attribution and marketing analytics platform, has revealed OnXCHNG, a partnership program for an open source blockchain framework for the digital advertising ecosystem, XCHNG. To launch the program, Kochava announced 10 co-founding OnXCHNG Partners who will be actively taking part in the project: AerServe, AppLift, Appodeal, Chartboost, DCMN, Digital Turbine, Kiip, PubNative, Parrable, and Priori Data.
Announced in October, the XCHNG blockchain-based system of record offers a digitized and tokenized insertion order (IO, or a contract to buy advertisements) with the supporting immutable infrastructure to make the entire transaction process between buyers and sellers more efficient and transparent.
OnXCHNG Partners will have early access to the XCHNG codebase and architecture. They will also have the opportunity to be involved in the roadmap direction for XCHNG and be the first to bring their inventory to XCHNG or provide services to the XCHNG ecosystem. Token incentives will be provided to all OnXCHNG Partners for participating in and contributing to this platform.
Kochava CEO, Charles Manning said: “The digital advertising industry is ready for a better way forward, as evidenced by the strong response we’ve had to our invitation to involvement in this open blockchain project. Buyers and sellers of media including AppLift, Appodeal, Chartboost, DCMN, Kiip, and PubNative, are respected industry-leading companies who are the first of many to join forces with Kochava as early OnXCHNG Partners. We welcome their involvement and look forward to continuing to build this community of experts as we bring efficiency, security and standardization to the digital advertising ecosystem.”
As a founding member of the Interactive Advertising Bureau’s Blockchain Tech Lab, the XCHNG team has designed the framework to be an open industry standard, built with advertising in mind. It brings together demand, supply, measurement, ratings, payment and data enrichment into a blockchain framework with peer-to-peer and consensus support for the large transaction volumes represented in advertising.
Ad buyers buy media to promote their brands and drive conversions to specified actions. Ad publishers, supply-side exchanges and ad networks provide ad space to buyers. The company hopes its solution will solve issues such as ad fraud, brand safety and a lack of transparency. Providing a common, open framework for all actors increases efficiency. On XCHNG, publishers can make their inventory available to advertisers in a direct, decentralized way, where inventory can be third-party verified and its yield can be maximized. Publishers can then track the lifecycle of that inventory to better understand and serve their advertisers.
Andreas Dengler, CEO and Co-founder of global marketing solutions group DCMN, stated: “DCMN has always prioritized providing the best ROI to digital brands using growth solutions based on technology and data. All aspects of our service offerings are measurable and completely transparent. We are very excited to be a strategic OnXCHNG partner with Kochava and believe XCHNG can bring transparency, efficiency and trust to the current digital media buying ecosystem, which needs a radical solution to fix the major issues the industry is now facing. We look forward to working together to shape the most ambitious blockchain application in ad tech today.”
In addition to buyers and sellers of media, XCHNG has been architected to integrate four first-party actor types who support the lifecycle of the IO. These include measurement, ratings, payments and data enrichment providers. The OnXCHNG program will allow these advertising ecosystem vendors to build tools and capabilities that support transparent ad buying transactions.
Co-Founder & CEO of Kiip, Brian Wong remarked: “Kiip takes pride in delivering a premium and secure advertising experience to our brand partners. As such, Kiip is thrilled to be working with a proven industry trailblazer like Kochava on the OnXCHNG partner program that integrates these values into its foundation. There is no doubt that blockchain will play a significant role in shaping the future of digital advertising, especially when it comes to transparency, efficiency, and security. We’re looking forward to seeing this partnership make the world of digital advertising better and stronger, while also providing an exceptional experience for our brand partners,”
The XCHNG system also delivers a built-in framework for payment via the XCHNG Token (XT). XCHNG Tokens will be used to buy and sell media or pay for services surrounding media transactions. Because cryptocurrencies like XT are relatively new and brands or agencies need to do business via fiat currency, XCHNG has been built to enable market-driven payment providers who can facilitate escrow, fiat conversion, or payment depending on the needs of the participants in an IO.
Priori Data CEO Patrick Kane said: “We are very proud to be involved as a ratings provider and thus as a key component of XCHNG. Transparency has always been the core value of our business, and we truly believe in XCHNG’s potential to bring much needed transparency to the industry at-large. Kochava has been a longtime partner of ours, and given their scale, vision, and proven execution, they are an ideal actor to effectuate such an important change. We are proud to be part of XCHNG and are excited about the opportunities this will create for our clients and partners.”