Media and advertising agency Mindshare, which a subsidiary of London advertising conglomerate WPP, has recently completed work with Zilliqa to reveal the incredible power of blockchain technology within the advertising sector.
By using smart contracts developed on the Zilliqa blockchain, the company managed to increase advertising efficiency by 28 percent in a recent test project. The initiative, dubbed Project Proton, was developed in collaboration with several tech and advertising companies, including Zilliqa Research, MediaMath, and Integral Ad Science. The initial testing stage of the project, completed in March this year, ran an advertising campaign for food and drinks manufacturer PepsiCo.
More efficient reporting of Ad Impressions
The campaign was completed in conjunction with a similar ‘control’ campaign that did not use blockchain-based smart contracts. The smart contracts automate the process of receiving payments from multiple media sources in real-time using the Native Alliance Token (NAT) as a payments facilitator. The results reveal that using smart contracts is not only a far more efficient method of ad-campaign profit provision but also increases transparency regarding advertising metrics.
The idea is based on the concept of ad impressions, a system made popular by platforms like Google Adsense. Publishers that feature ads on their websites or within videos are paid by brands based on the perceived amount of audience influence, or ‘impressions’. By utilizing smart contracts to automate the process of reconciling impressions, fraudulent or non-viewable impressions can be disregarded in real-time, greatly improving the efficiency of the overall system.
Mindshare now hopes to roll out the budget-saving new system to a host of advertisers around the world and further utilize Project Proton to improve energy efficiency within digital supply chains. Farida Shakhshir, Director of Consumer Engagement at PepsiCo, called the results encouraging and says the company “plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.”
Zilliqa partners with Kings College London
The Zilliqa team have recently partnered with Kings College London to help promote education within the blockchain sector. The program will involve a series of seminars aimed at teaching the next generation of engineering and business students about the benefits of blockchain technology in the industry.
Zilliqa CEO Xinshu Dong says that the program, named Blockchain A-Z, “opens the door for participants to acquaint themselves with the fundamentals of blockchain, and helps them launch a fully functional application on the blockchain by the end of the workshops.”
The Zilliqa blockchain token, ZIL, is currently the 48th largest cryptocurrency by market capitalization. The project is worth $135 million and enjoys a daily trade volume of $13 million.