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American Chocolate Production Company Hershey Joins Blockchain Advertising Consortium

BFSI News

American_hocolate-Production-Company-Hershey-Joins-Blockchain-Advertising-Consortium American Chocolate Production Company Hershey Joins Blockchain Advertising ConsortiumThe Hershey Company, one of the leading American chocolate production companies, has reportedly joined Blockchain-based consortium AdLedger. Hershey, in conjunction with French media group Publicis Media and The Global Audience Based Buying Conference & Consultancy (GABBCON), has joined AdLedger, which was founded by IBM, Tegna and Blockchain-driven firm MadHive in 2018. AdLedger is a nonprofit consortium which builds shared ledger technologies for the digital advertising market.

The head of addressable media and technology for The Hershey Company, Vinny Rinaldi said that apart from advertising, Hershey’s deployment of blockchain technology could be expanded to the operation of chocolate factories, facilitating tracing of cacao from bean to bar. This would be a fundamentally massive shift in the way that we think. As it was reported that advertising lacks the transparency of data and process, Blockchain can ostensibly address these issues, making adequate information available to every individual within the environment regarding how publishers verify their traffic, and the processes that ad agencies and other intermediaries follow to make sure that they work with publishers with verified traffic.

According to the reports, which noted that IBM and Salon Media, last year, piloted a proof-of-concept Blockchain product, named The Campaign Reconciliation Project, which created by AdLedger. The product is set to hold back intermediaries between advertisers, publishers, and consumers that currently render the industry vulnerable to high-tech ad fraud like bot fraud and domain spoofing. Based in Derry Township, Pennsylvania, The Hershey Company makes baked products, including cookies, milkshake, cakes, drinks and many more, which increase its variety of range.