Kiip Launches Executive Blockchain Council to Address Issues of Transparency, Efficiency, and Performance in Digital Advertising
Industry Leaders to Explore How Nascent Technology Can Solve Pressing Concerns
Kiip, a leading mobile marketing and monetization platform, announced the formation of the Executive Blockchain Council, a collaboration with executives at leading brands and agencies, to explore how blockchain technology can solve the persistent issues of transparency, efficiency, and performance in digital advertising. Members include Amardeep Kahlon, CMO, GSK, and Eduardo Luz, CMO, Kraft Heinz, among others.
“Top marketing executives for major brands are responsible for knowing and understanding a variety of technologies and capabilities, and the arrival of blockchain has added one more item to that already lengthy list,” said Brian Wong, CEO and founder of Kiip. “The goals of the council are simple: to educate and to encourage testing and piloting. We want to create a comfortable forum for executives to learn about the basics to the most advanced. We also want to ensure that brands and agencies are encouraged to launch real-life pilots before the end of the year. If too much time has passed and the industry doesn’t see enough real use cases, this technology will lose its legitimacy, regardless of how much potential it has.”
The Executive Blockchain Council represents the first time that major brands and agencies have come together to work on blockchain solutions as they relate to digital advertising. The 15 member council will meet semi-annually.
The Executive Blockchain Council will focus on issues across all forms of digital advertising, but will be led by mobile technology, as the mobile device is the most relevant media interaction point for consumers today, as well as the most personal. The council’s formation follows the launch of Kiip’s “Single Ledger” blockchain product, first deployed in a campaign for AB InBev in Q2 2018. Single Ledger enables all players in the digital ad sales chain to view and audit campaign data directly. The technology allows for simple and clear reconciliation of campaign performance data among all parties, eliminating potential for fraudulent reporting by third parties and ad servers, and streamlining what has historically been a painful, laborious reporting and payment process.