Blockchain technology not only allows a faster access to the entire supply chain, but it also works as a barrier to protect the brand and avoid frauds
The applicability of innovative technologies generates surprise among conservative executives. In this case, blockchain technology has revolutionized different ways of supporting data and records.
Blockchain technology also has been an important part in the development of finance in this new era, thanks to the creation of tools supported by a structure of blocks such as Internet of Things (IoT) or smart contracts.
In the advertising case, blockchain technology has made a leap in the way of creating an advertising campaign. Blockchain achieved a considerable level of success above the average. In a recent test conducted by the American multinational company dedicated to the manufacture, commercialization and distribution of drinks and snacks, PepsiCo, it was observed that the advertising campaign implemented with blockchain tools obtained 28 % better results than conventional means.
The test done by the company was made in March of this year in the Asian market. The proof would allow evaluating the scope and impact of advertising developed with blockchain technology through an important partnership with Zilliqa Research, Rubicon Project, Integral Ad Science and MediaMath.
MediaShare revealed that the advertising campaign conducted through smart contracts was, in fact, 28 % more effective compared to conventional advertising campaigns. In addition, the firm indicated that the test was part of a plan called Proton Project, which seeks to guarantee the correct investment for the impressions of advertisements, posters, advertising banners and other means of communication, without risk of suffering frauds. The idea is to maintain the brand as safe as possible.
The company in charge of elaborating the blockchain system used in the test was the prestigious technological firm, Zilliqa Research, which created a system to support the network of smart contracts.
Workers of the company commented that this network will guarantee the transparency of the entire transaction process, including all payments made by the corporation to publishers and partners of the brand. Representatives of the company talked about the reliability of the blockchain system to safeguard all information related to the supply chains since the information is only disclosed to the partners involved in the project and authorized people.
In the press release where the success of the test was revealed, it was mentioned that the company hopes to take advantage of this technology since it can generate a considerable increase in advertising profits, due to its low costs. In this sense, the multinational company PepsiCo plans to continue developing tests of advertising campaigns to further measure the scope and impact of blockchain technology in this area.
Similarly, the Co-founder of Zilliqa Research, Max Kantelia, believes with strong conviction that the use of blockchain technology can improve all commercial and industrial processes of any company, as well as it could modify the entire structure of global media.
“We are proud to work with Mindshare and other leaders and influencers of the global media landscape. This alliance illustrates the power of smart contracts and serves as a reminder that blockchain technology can drive business benefits to industries beyond finance”, he said.
By María Rodríguez