MetaX is launching with a blockchain product for the digital advertising industry.
MetaX, an adtech company that says its platform “allows the digital advertising supply chain to coordinate in a scalable, trustworthy and secure way using the blockchain”, has teamed with blockchain software technology company ConsenSys to build adChain, a blockchain-based protocol it said powers its applications for the digital ad industry.
The adChain protocol works across all channels and, per MetaX, is the only product that enables participants throughout the supply chain to coordinate and work together. MetaX said its platform is in operation with select private beta partners and additional partners are invited to participate in an ongoing beta program.
MetaX said using its platform to access the adChain protocol “is as easy as setting up a normal campaign. There is zero change to existing systems and no deep integration is necessary.”
In addition, MetaX said benefits to its platform include: a trustworthy holistic view of all data related to an impression; an audit trail “for everything related to a campaign”; seamless integration with existing products, enabling interoperability and easy adoption by the digital advertising ecosystem; and the ability to identify and blacklist fraud in real time at a protocol level, as well as to see where other problems arise across the supply chain and take advantage of coordination efficiencies to track and solve issues and, finally, to execute massive transaction volume while maintaining integrity and security of impression data.
“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,” said Ken Brook, co-founder of MetaX, in a statement. “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.”
According to MetaX, a blockchain is a decentralized shared ledger that records transactions into so-called blocks. In the existing ecosystem, buyers and sellers have to trust each other and/or a third-party, but all transactions are recorded in the blockchain in a system secured by the broader participants via cryptography. MetaX said another advantage to the blockchain is it also has no central owner and no single point of failure, which makes it a particularly secure place to record transactions.
The blockchain also provides a detailed audit trail as all transactions are auditable within the blockchain’s universal, immutable ledger.
“The end result is a scalable, trustworthy solution for tracking and verifying all advertising impressions that provides media buyers 100% transparency into the supply chain,” MetaX said. [TheDrum]