Sept 26 reports say, Executive Vice-President for Global Media at Unilever, Luis Di Como said that using blockchain has helped the company save money.
The company also added that leakage is not present in its media investments made as part of their pilot project. Reports said, the system allows for more efficient ad reconciliation in a process by which advertisers ensure contracted agreements are delivered.
Unilever has been collaboration with IBM on this project for the past 18 months. Unilever saved and estimate of two to three percent using the blockchain platform.
SCALE UP BLOCKCHAIN PROGRAM
Because of this test, the company is also showing more interest on scaling the system. To develop a consortium with ad software firm Mediaocean.
Luis also said:
“This is not going for the latest shiny tool. […] We are also going through our rules and our principles to build trust again and having full transparency across all of our operations. [It is not a] cost-cutting exercise. […] It’s about finding better ways of doing things and releasing capacity to invest more in strategy, communications and media investment.”
In June, IBM iX first partnered with Mediaocean to launch a blockchain-powered tracker for a digital media transactions.