PepsiCo Conducts a Blockchain-Based Trial Bringing Up a Whooping 28% Boost in Supply Chain Efficiency
May 7th 2019
PepsiCo, the American Multinational Food, Snack, and Beverage Corporation, recently conducted a test ad campaign built on blockchain technology that delivered a 28% increase in supply chain efficiency.
The trial, termed as Project Proton, was set to determine whether blockchain technology could address ‘’industry challenges’’ in programmatic advertising. The news was announced by Mindshare, a media agency that also happens to be PepsiCo’s project partner.
According to Mindshare, the collaboration between it and PepsiCo carried out a programmatic end-to-end supply chain reconciliation using Zilliqa’s blockchain platform. Asides from Zilliqa, the Rubicon Project, Media Math and Integral Ad Science were also part of the merger.
Zilliqa’s blockchain technology allows advertisers to deliver their full campaign budget on discernible impressions. Contrary to the current process, where reconciliations are done after a campaign is completed, the blockchain-based solution reconciles it several times a day and could reduce inefficiencies in costs.
Smart Contracts Effect
Apparently, Zilliqa’s smart contracts were also used to drive the seamless supply chain during the trial. The smart contracts reconciled impressions that were delivered from multiple data sources with payments facilitated via internal crypto known as the Native Alliance Token (NAT).
Announcing his excitement over the trials success, Max Kantelia, Co-Founder of Zilliqa Research said:
“We are proud to work with Mindshare and other leaders and influencers within the global media landscape. This alliance illustrates the power of smart contracts and serves as a reminder that blockchain can drive business benefits to industries beyond just finance. As Project Proton unfolds, we eagerly await to assess its impact and how we could – along with Mindshare’s expertise and insights – develop it on our scalable and secure platform.”
Currently, Project Proton automates settlements according to viewability-verification methods and in the process, the project enables a business model in which advertisers only get to pay for viewable, brand-safe, and free-from-fraud ad impressions.
Since it is blockchain-based, the entire transaction process is transparent to the brand at every step. Also, the payment information made to each party between the brand and the publishers is encrypted; therefore, stakeholders in the supply chain only get to view information that is specifically relevant to them.
The post PepsiCo Conducts a Blockchain-Based Trial Bringing Up a Whooping 28% Boost in Supply Chain Efficiency appeared first on Blockgeeks.