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Mindshare, one of the five media agencies under WPP & GroupM, might have found the solution to all problematic advertising across the global supply chain. Leveraging the distinctive features of blockchain technology, the media agency was able to prompt a 28% increase in efficiency for PepsiCo.
The test was run earlier March and it showed a significant amount of increased efficiency compared to the control test. Working closely with Ziliqa Research on its blockchain platform, Mindshare was able to provide seamless end-to-end reconciliation of the problematic global advertising supply chain.
The test was conducted for PepsiCo as a test run to see how effective a blockchain solution would be, and indeed the blockchain solution didn’t disappoint at all. A 28% increase in efficiency was recorded at the end of the test period.
The test, which was part of the ongoing Project Proton, was conducted in the Asia Pacific. Compared with the control test, the result showed that the blockchain-based solution was able to provide 28% increased efficiency in costs for viewable impressions.
This success was achieved by automating the entire advertising process through smart contracts on Zilliqa’s Blockchain. The smart contracts were used to reconcile impressions delivered from a number of data sources with payments via an internal Native Alliance Token (NAT). Being an automatic process, the smart contracts were able to reconcile the data in real time, hence the success recorded.
Before now, reconciliation of ads was done after the campaign is completed. This allows for lost information, manipulation, and other sources of wrong facts. This ultimately affects the revenue of such company. However, that will not be the case anymore.
Together with Zilliqa’s lockchain platform, companies can now monitor their campaigns on the go using the end-to-end reconciliation solution that is designed to run several reconciliation processes in a day, thus providing real-time information to advertisers. In addition, a blockchain-based solution also allows for topnotch transparency within the global supply chain.
Speaking on the result of the test, the Director of Consumer Engagement for PepsiCo AMENA stated that they are happy to partner with Mindshare to test the value of blockchain and explore its application. He added that the results are very encouraging and that they plan to run a few more campaigns under different hypotheses to measure the overall impact on solving problematic advertising. Other partners in this project include Rubicon Project, Integral Ad Science, and MediaMath.
This is indeed a huge success for the firm as the goal of Project Proton is to address industry challenges in problematic advertising.