Fast food giant Mcdonald’s along with Nestle and Virgin Media have just entered in an apparent blockchain partnership.
According to a recent report, the 3 entities are currently working on a new blockchain project with the aim to increase transparency within the digital advertising sector.
All three brands are being joined by their respective digital media agencies which include Zenith, OMD UK and Manning Gottlieb OMD. Introduced in May of 2019, the Jicwebs’ blockchain-powered pilot has assembled three of the top franchises in their respective sector for a common blockchain goal.
Furthermore, the pilot will provide the necessary information in determining how the distributed ledger technology could help in improving “ the trust, inefficiency, and transparency” within the digital media sector.
This technology offers us the opportunity to see a truly transparent picture of our investment across the digital supply chain. We are also eager to understand the potential impact that this may have on our ROI and efficiency” said Kat Howcroft, Senior media and Budget manager at McDonald’s.
Additionally, future stages of the trial will apparently boost the supply chain and thereby gain operational efficiencies.
As for the Long run, Jicwebs hopes to partner with more brands, as well as publishers and tech vendors. It has been revealed that Jicwebs has partnered with the London-based blockchain and tech firm Fiducia support the venture.
Let’s just hope that pilot yields positive results as the online or digital media industry has been crippled by transparency issues for some time now. Additionally, prominent figures within the sector have been calling for the creation of a new digital ecosystem supported by the blockchain.