America and the world’s most popular chocolate outfit Hershey, is reportedly also set to make its foray into crypto. It is adding its name to the board of blockchain consortium adledger, along with some other advertising companies.
Adledger has reportedly tabled the Hershey Chocolate company as a board member, which means the chocolate giant will be joining the likes of Publicis Media, a French media group, as well as the global audience based buying conference and consultancy (GABBCON).
Adledger is a nonprofit that promotes the use of blockchain technology as well as digital advertising standards. Adledger was founded in 2018 and is co-owned by IBM, Tegna, and blockchain firm MadHive. This outfit builds shared technologies for the digital advertising market. Tegna and Madhive have for a while been signing popular industry names such as GroupM, Omnicom, IPG, and Reprise Digital.
Now aboard the Adledger ship, Hershey will be a big part of advertising as well as deploying blockchain based technologies that could be extended towards the chocolate factories operations. According to Vinny Rinaldi, who is the head of addressable media and technology at Hershey; deploying blockchain will help the chocolate outfit in a number of ways, one of which will be the ability to easily trace cacao from bean to bar.
Adledger benefits from these kinds of partnerships in two ways; one is the ability to collect responses from various stakeholders and players through member companies Hershey, and the other is the ability to signal to the market that involvement of big companies such as Hershey in crypto; proves that the blockchain is not a fad.
Adledger’s august 2018 report noted the lack of transparency in the data as well as other processes within the advertising industry. The firm offered up blockchain as a viable solution to those problems, since the blockchain can make a lot of information accessible to each and every person within the ecosystem; mostly on how publishers validate their tariff and processes, advertising agencies and other agents follow so as to guarantee that they work with the validated traffic with the publishers.
The head of Publicis media- another adledger new board member-Yale Cohen, said that his firm looks at adledger as a means to develop industry in large standards, in the blockchain’s early days while also figuring out how it will be used to create trust within the digital advertising space, by reducing scams in the market place. Cohen also added that he believed the blockchain to be the most brilliant object in the room, with the ability to solve various problems in multiple industries.
The Hershey Company’s foray into crypto signifies yet another name brand throwing its weight behind crypto. The blockchain seems to be catching on, despite its critics and cynics and one can only wait, and see how the story will unfold.
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