A new blockchain use case every day. The Trustworthy Accountability Group wants to use Distributed Ledger Technology (DLT) to help the advertising industry.
Even if DeFi is making the headlines these days , the blockchain industry is not standing still. For as Trustworthy Accountability Group (TAG) tells, the company was able to complete a one-year test run for its own DLT platform in July. TAG is a certification company that campaigns against fraud with online advertising banners.
In the meantime, the company has landed well-known partners for its DLT pilot. The testers include industrial giants such as Johnson & Johnson, McDonalds, Nestlé and O2
According to the content of the press release, TAG wants to use the blockchain platform to ensure more transparency in online advertising. According to the company, this is often the target of fraud. For example, traffic is deliberately falsified in order to generate click numbers and thus fees for the advertiser. TAG has been trying to cope with this hustle and bustle for a long time with the so-called Certified Against Fraud Program , and now also with DLT.
Our pilot project showed promising possibilities for a DLT platform. Including the potential to create a „shared truth“ where the same data is recognized as valid throughout the supply chain,
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With the blockchain solution, TAG then wants to integrate all the advantages of distributed systems. Accordingly, data should be stored in the decentralized database in a confidential, anonymous, unchangeable and secure manner. TAG sees another advantage in blockchain-related automation. After all, one of the key aspects of distributed ledger technology is that it must function properly without any third parties.
The blockchain, which is intended for the advertising industry, was developed by TAG in collaboration with the London start-up FIDUCIA.
Blockchain: There is still a long way to go before it is ready for the market
With the return of the Bitcoin bull market , the blockchain industry is also likely to experience an upswing. Whether the technology can also prevail for other applications, i.e. with solid money, is still in the stars. Because the promise of data integrity, decentralization and immutability of the data is in practice often just a euphemism for „automation“. Especially since a blockchain only makes sense if as many parties as possible use it. But the fact is that there are now an innumerable number of different blockchains for any particular interest. It is hard to imagine that such diversity is sustainable.
Ultimately, you will have to wait and see which data is actually sensitive enough for a blockchain to be worthwhile. As Sven Wagenknecht argues , the technology should establish itself first and foremost in the food industry.