AdEx, a decentralized advertising network has joined IAB’s TechLab as one of the leading contributors to the Blockchain Working Group.The IAB Tech Lab is an independent nonprofit international research and development organization which was started in 2014 in the USA. Its main aim is to create and establish a world technical standards in the industry several working groups which carry put their functions to assist companies in implementing the standards.
The main aim behind IAB Tech Lab is to offer meaningful contribution to the safety and growth of the industry by calming tension that come with marketing supply chain and digital advertising.
Currently the main contributors to the Tech Lab working groups are technology firms, digital publishers, marketing agencies as well as other agencies which are interested in interactive marketing. Some of its founding members are Yahoo! JAPAN, Yahoo, Tremor Video, PubMatic, Hearst Magazines Digital Media, Google and AppNexus.
AdEx which collected more than $10,000,000 in just three hours of its ICO in 2017 is working hard to revolutionize the digital marketing ecosystem. With thes ambitions, joining IAB Tech Lab’s Blockchain Working Group was a well calculated move.
Established with the sole aim of investigating the application of blockchain technology in the digital advertising sector, the IAB Blockchain Working Group operates under the close supervision of Shailley Singh.
The group is seeking to come up with standards for the use blockchain technology in digital advertising. This makes AdEx a highly qualified member of this community. The community also includes Shazam, Papyrus, Publicis Groupe, Twitter, Nielsen, Google, BuzzFeed, Amazon, MetaX, IBM and Adobe among others.
Currently the main issue for the community is to offer education on blockchain technology as well as its use in advertising. Members are thinking of coming up with priorities for businesses, setting up the necessary technology thresholds and implementing the best practices.
In a statement, AdEx CEO Ivo Georgiev members of the group will need to work together in the initial stages so as to fast track the sustainable adoption of blockchain for advertising purposes.
