Posted 7 months ago | by Ben Armstrong
TAG Studies Blockchain And The Future of Tracking Consumer Behavior
Last year the Trustworthy Accountability Group (TAG) conducted a pilot that tracked manufactured goods, ad tech producers and publishers, to measure how Distributed Ledger Technology (DLT) could enhance the programmatic advertising.
The results have just been revealed and have been warmly reviewed by IPA President Nigel Vaz. The pilot was carried out over 12 months from July 2019 to July 2020, by TAG and their partner FIDUCIA, a tech agency in London.
It involved the participation of several large names in consumer goods, such as Nestle, McDonalds, Johnson & Johnson, GroupM, IPG, and others. The program gathered 112 million impressions from 127 campaigns for analysis.
TAG Found That Blockchain Works!
Using large amounts of data from major players was the key for the TAG team to generate a virtual environment and track how blockchain could impact the business processes.
The results were positive – and identified the following areas of utility:
Enhance Supply Chain Transparency – Via the pilot, DLT was found to be able to consolidate data from impression logs into a united format, which could facilitate access to data. Furthermore, access to ledger data required encrypted keys, which were completely under the control of the data provider, which ensures higher security for data.
Optimize The Chain – In the pilot, participants could use an advanced tool called Shared Truth to set up their campaigns based on loads of customizable metrics. Thanks to that, they were able to optimize how to view, compare, and measure campaign results, as well as select safety options to prevent frauds.
Improve Operational Efficiency – With DLT, productivity could be ramped thanks to the execution of smart contracts. Some historical statistics pointed out that in teams, 60% of time was wasted on data download, reformatting and reconciliation. Only 20% was focused on analysis, therefore automation could be a good solution.
Nigel Vaz, the President of IPA, commented that this research could be important for optimizing digital advertisement, payment and could also help to restructure the entire supply chain.
TAG is planning to open a new consulting service related to DLT applications and other business ideas. This initiative is likely to launch soon, perhaps even this year.
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