Govt backs blockchain plan to boost trust in online ads

digital_disciplines2The UK Government has made a major investment to tackle one of the biggest issues facing the digital advertising market as it continues to struggle with transparency, accountability and efficiency issues.

The move sees Innovate UK hand over a six-figure grant to TAG TrustNet, a global initiative launched by the IAB, the US-based Association of National Advertisers ANA, and the American Association of Advertising Agencies in 2018 to “increase trust and transparency in digital advertising and stop criminal activity”.

The grant award, which was supported by the UK agency body the IPA, is designed to turbo charge TAG TrustNet’s blockchain tech in an effort to reconcile billions of advertising impressions in near real-time.

Online advertising transparency has been a major bugbear for the industry for years, and, despite digital ads being forecast to account for nearly 60% of a whopping $705bn (£513bn) global adspend in 2021, concerns over the supply chain, where ads run and how effective they are still persist.

In awarding the grant, Innovate UK said TAG TrustNet represented one of the most advanced programmes across the UK economy and that it provides an “exemplar” for other sectors to learn from and follow, adding that the project originates in the UK but is of global importance.

The company uses so-called distributed ledger technology – a database that is shared and synchronised across multiple sites, institutions, or geographies, accessible by multiple people – developed by Fiducia.

TAG TrustNet was also recently appointed the ANA’s technical partner to its programmatic advertising study.

Innovate UK head of AI and data economy programmes Tom Fiddian said: “The UK advertising sector is leading the way in demonstrating how a co-ordinated industry-led approach using blockchain technology can clean up supply chain issues and drive digital innovation.

“By lending the weight of Government support to this initiative we expect to accelerate widespread adoption in the UK, create a use case for other sectors to learn from, and facilitate export opportunities for the project.”

IPA director general Paul Bainsfair added: “We have strongly backed this initiative from its conception. From increasing trust and transparency in digital advertising, to improving the buying and planning of programmatic media, to reducing operational costs, the benefits to the global industry are enormous.

“We are therefore delighted to have facilitated the conversations that have resulted in recognition from the Government of the value of this initiative and look forward to the developments that this financial backing will enable.”

Related stories
Big issues still to tackle in 2022: Online or off limits?
Traditional channels set to benefit from cookie demise
Apple opt-in tracker blows $10bn hole in rivals’ pockets
CMA action forces Google to delay demise of cookies
Privacy groups claim victory over looming adtech ruling
DMA wades into ICO row over axed adtech investigation
Privacy groups hit out at fresh delay to adtech probe
‘Chicken’ ICO kicks adtech investigation into long grass
Adtech breach widens, two years after first complaints

Print Friendly