Medioacean Blockchain Network Named Finalist for Constellation SuperNova Award
New York, NY - August 20, 2019 – Mediaocean, the foundational software provider for the advertising world, today announced it was named a finalist in the ninth annual Constellation SuperNova Awards for its work on a Blockchain production pilot for advertising media supply chain. Built using IBM’s Blockchain Platform, the solution tackled issues of transparency, trust and accountability in the advertising ecosystem.
Mediaocean developed and deployed a media supply chain blockchain protocol to capture the key contractual transactions across the media buying lifecycle. A consortium of eight major advertisers, their agencies representing 5 global agency holding companies, and select technology partners participated in this blockchain network. The production pilot ran for six months, and recorded $670 million dollars in advertising budgets. Mediaocean and IBM are now developing business applications to automate cross-organizational media contract workflow and expanding participation in the network across the media industry.
“The Mediaocean Blockchain Network will be a game changer - arming advertisers and agencies with information to manage advertising spend with much greater efficiency.” says Vedant Sampath, CTO, Mediaocean. “From supply chain transparency, to cash management, to auditing and more, the solutions provided within the Mediaocean Blockchain ecosystem will drive billions in additional advertising ROI.”
The Constellation SuperNova Award program recognizes teams and leaders for their innovative application of disruptive technology and transformative initiatives. Public voting for the SuperNova Awards will take place online from August 19 – September 13, 2019. To vote, visit https://www.constellationr.com/node/17601/vote/application/view/624.
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