The Ad Council has partnered with a blockchain company to test the technology on its programmatic ecosystem.
Members of the organization will work with Ternio, which claims its patent-pending Lexicon tech is the world’s only scalable blockchain solution that can handle speeds needed within the programmatic environment.
The partnership makes Ad Council one of the first companies in a Ternio test to use blockchain verified ad inventory in such a way. It is hoped the experiment will enable brand advertisers to gain complete transparency of their ad spend throughout the supply chain, leading to more effective campaign results and a reduction of ad waste.
Liz DeAngelis, Ad Council’s director of growth and emerging media, said: "The Ad Council is always looking to be at the forefront of digital innovation.
"We’re excited to see how blockchain will impact the programmatic environment, and we value partnerships with ad tech companies around new product launches that will extend awareness of our campaign messages."
In August, Campaign US reported that many experts in the space believe programmatic media buying will be housed on blockchain by the end of 2019.
IBM has invested heavily in blockchain and convinced a number of the world’s largest advertisers -- including Unilever, Kellogg and Pfizer -- to take part in a pilot program which is currently running. The company is sitting on a ton of data from its partnership with Mediaocean.
However, Ternio’s CEO Daniel Gouldman, stressed at the time that scalability will win the blockchain space race. IBM’s permissioned blockchain platform (known as Hyperledger Fabric) caps out at 3,500 transactions per second, researchers said earlier this year. Meanwhile, Ternio’s framework can process more than one million transactions per second.
Gouldman said his team has created the world’s fastest blockchain. In fact, he ordered a "costly" third-party audit of the tech back in May just so he could claim this boasting right.
"Ternio is thrilled to be working with the Ad Council which has been responsible for iconic campaigns like ‘Smokey Bear’ and ‘Love Has No Labels," said Gouldman.
"Partnering with the Ad Council allows us to test our product in a live environment before bringing the product to market while simultaneously driving awareness of an important issue."