Digital consultancy IBM iX and advertising software company Mediaocean are piloting a blockchain network for media deals that aims to improve transparency and fight fraud. The new system is being tested in the United States but will be rolled out globally by early next year, according to an announcement from IBM. Mediaocean CEO Bill Wise said he believed that the network would eventually be adopted by the majority of the industry. The plan is to provide improved visibility about which firm is getting paid for what and to speed up transactions. Industry commentators say blockchain could prevent payments going to the wrong place and thus reduce digital fraud.
Digital consultancy IBM iX and advertising software company Mediaocean are piloting a blockchain network for media deals that aims to improve transparency and fight fraud. Unilever, Kimberly-Clark, Pfizer, Kellogg and IBM’s Watson are among the initial members of the group. Mediaocean CEO Bill Wise said he believed that the network would eventually be adopted by the majority of the industry. The plan is to provide improved visibility about which firm is getting paid for what and to speed up transactions. Industry commentators say blockchain could prevent payments going to the wrong place and thus reduce digital fraud.