Blockchain technology took another step this week toward helping ad tech solve its problems, with the private beta launch of adChain by ad blockchain firm MetaX and DMA, the Data and Marketing Association.
Developed by MetaX, adChain is an open protocol built on the public Ethereum, a decentralized platform on which blockchain-based applications can be created. Blockchains are best known as the underlying tech for bitcoins, but that is only one application.
Essentially, blockchain tech is a distributed and shared ledger that its proponents say immutably and automatically records all the steps and related data in given events.
While DMA is the first industry organization to participate in this initiative, it said that it hopes other industry organizations will also join.
adChain is intended to provide an open and comprehensive record of digital ad transactions, a repository of trusted identities and a mechanism for agreements that implement their terms (“smart contracts”).