Blockchain4Media, a company that validates digital advertising, has partnered with the R3 software consortium to ensure that corporate advertising funds reach the desired customers.
The agreement will allow Blockchain4Media to better detect unconfirmed end-users and false advertising efforts, through the use of the RCA's blockchain platform, according to a press release.
Blockchain4Media CEO, LuRae Lumpkin, said: "The speed of transactions on Corda was a key criterion in the technology selection process and will allow Blockchain4Media to help prevent fraud and restore control in the hands of media buyers and buyers. brands that serve ".
The company noted that digital advertising amounted to $ 223.7 billion in the past year, while fraud in the sector amounted to about $ 19 billion worldwide in the year. According to its website, "digital advertisers do not have a good defense against fraud" using more traditional online resources and ad platforms have not had any incentive to detect or stop fraud.
David Rutter, CEO of R3, said: "Corda's unique design will enable Blockchain4Media to provide advertisers and digital brands with access to genuine consumer engagement, and we look forward to working with them. to develop innovative solutions to combat advertising fraud ".
The global R3 network includes members and partners with whom he is working on various blockchain projects on the open source blockchain of Corda. At the end of last year, he made Corda available on Amazon Web Services to allow users to develop their own applications. Rope is also scheduled for the management of HM Land Registry of approximately 25 million land titles in England and Wales.
R3 is also collaborating with the Bank of Thailand to create a digital currency of the Central Bank for the Southeast Asian country, in cooperation with financial institutions such as HSBC and Standard Chartered Bank.
The automotive giant Toyota also reported success in its use of blockchain technology to detect advertising fraud. In a campaign with Lucidity, blockchain advertising analysis company, Toyota has seen a 21% increase in visits to its website compared to similar campaigns. The car manufacturer said he was already considering the further use of blockchain in subsequent campaigns.