Hershey’s Chocolate, one of America’s most popular chocolate companies, has recently joined an advertising consortium named AdLedger. Based on information on March 26 from AdWeek, the American chocolate producer has teamed up with AdLedger along with Publicis Media, a French Media Group, and the leading American consultancy firm, GABBCON, or the Global Audience Based Buying Conference & Consultancy.
Founded by Tegna, IBM, and MadHive in 2018, AdLedger is in charge of the development of distributed ledger technologies for companies that engage with digital marketing and advertising. One of its founders, MadHive, is a blockchain company. The advantage of blockchain to Hershey would be not just the advertising function but also the deployment of the technology to expand, optimize, and secure its existing operations.
This will certainly facilitate better tracking of the cacao in the production and manufacturing process from the bean state to becoming a chocolate bar. So far, Vinny Rinaldi of the Hershey Company believes that this adoption of blockchain technology will be a massive shift in the company’s fundamental operations.
The role of blockchain in enhancing the advertising industry is to address the issue of the lack of data and process transparency. Blockchain provides access to information available to all stake holding parties and thus ensures the quality of work.
In October last year, Toyota, one of Japan’s most popular car manufacturer, decided to employ blockchain technology in its advertising analytics. Partnering with Lucidity, Toyota has cut down on fraudulent digital add purchases, thus eliminated useless spending.
Last year, AdLedger also created The Campaign Reconciliation Project. Salon Media and IBM were the first to use this blockchain product, which eliminated high-tech ad fraud among publishers, consumers, and advertisers. The product was designed to short-circuit useless intermediaries caused by domain spoofing or perhaps by a bot fraud.