IBM and Mediaocean launching blockchain-based ad network

IBM is teaming up with Mediaocean to create a blockchain-based advertising network that will lend the programmatic buying process more transparency.

The pilot program is being unveiled this week for brands, agencies and publishers, reports AdWeek, and they will be able to use the network for better tracking of campaigns across various channels such as digital, print and television.

IBM provides the the blockchain technology to Mediaoceans campaign management platform, which records transactions across the ecosystem and saves on auditing time for the user. While initially the focus will be transactions between marketers and agencies, the intent is to expand this to publishers and measurement companies.

Bill Weiss, Mediaocean CEO, said: “The way we’re looking at the pilot is to prove out and to close the supply chain. We might start with just a handful of campaigns, we might look at it across all of our media spend.”

Brands such as Unilever, Kellogg, Kimberly-Clark and Pfizer are already planning to use the network when the pilot test begins in July.