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MetaX teams up with ConsenSys to develop blockchain solution digital advertising industry
MetaX, a Los Angeles-based adtech company, collaborated with blockchain startup ConsenSys to co-build adChain – a blockchain-based protocol that powers the ad-centric applications.
The MetaX platform allows the digital advertising supply chain to coordinate in a scalable, trustworthy and secure way using the blockchain. The platform offers end-to-end transparency, campaign coordination and auditing, real-time reconciliation and data collection, cryptographically secure event processing, and ad-friendly implementation. In addition, it also helps in exposing fraud and provides comprehensive data.
“Innovation in digital advertising is growing faster than our standard industry protocols can support. This has created gaps in the ecosystem that can be exploited,” said Ken Brook, co-founder and CEO of MetaX. “Blockchain has a number of exciting implications for digital advertising. Fraud prevention is a natural first application given the transparency and security blockchain brings, and because fraud is such a major issue for the advertising sector.”
According to the official release, the adChain protocol works across all digital advertising channels. It is the only technology-driven solution that enables participants across the supply chain (from advertisers to DSPs to publishers to safety vendors) to coordinate and work together in a new healthy ecosystem free of fraud, bot traffic and malware.
Using the MetaX platform to hook into and access the adChain protocol is as easy as setting up a normal campaign, MetaX explained. There is zero change to existing systems and no deep integration is necessary.
"The digital advertising industry is experiencing tremendous growth while increasingly struggling with problems like ad fraud, offering an ideal use case for blockchain technology. The MetaX team are experts in digital advertising. It was a perfect complement to work with us, the largest blockchain startup, in helping the industry solve these problems and become more efficient and transparent. The development of the adChain protocol on the Ethereum platform brings a powerful and unparalleled approach toward reaching these goals," said Joseph Lubin, Founder, ConsenSys.
The MetaX platform is currently in operation with select private beta partners and is inviting digital advertising industry partners, such as publishers, advertisers, safety vendors, exchanges, DSPs and more, to participate in the beta program.