Pepsico which is one of the greatest food industry giant recently completed the advertisement on the blockchain, and the trial says that the company has an increase in the efficiency of the supply chain by 28 percentages.
Mindshare was the partner with whom the test of the supply chain was done. Some other partners were also there which include the famous Rubicon along with others. However, the trial took place in the Pepsico and the Asia Pacific region. So they are hoping for a useful feature with a great idea after the success of this test.
To get a practical yield of effectiveness, the test was directed close by a controlled one, with further utilization of smart contracts to computerize the supply chain network objectives in the test.
As mentioned by Mindshare,
“These smart contracts reconcile impressions that are delivered from multiple data sources with payments facilitated using an internal Native Alliance Token (NAT) all in near real time, resulting in major efficiency gains and complete transparency for the brand owners”
Mindshare and Pepsico become partners to increase the efficiency of the supply chain
In the year of 2017, the Mindshare which is a marketing service company worked with Ziliqa which is a Singapore public blockchain on the project named as a proton. This project deals with a cost-effective method of buying digital advertising. Recently on the news, they stated that there was an increment in the efficiency of the supply chain by 28 percent which was done in the March test. The Mindshare did this test in partnership with Pepsico ads which are shown in the Asia Pacific. The benefits were related to the costs for impressions which are viewable.
One of the main problems which are related to digital advertising is that the spending of a tiny proportion of money which reaches to the publishers by the advertisers. This is a loss for the advertisers as they do not get enough of what they are expecting. The spending is taken by various cuts which are made by the intermediate that is coming between the publishers and the advertisers. One of the major points which are also a reason for the loss to advertisers is the significant proportion of the advertisement which has been spent is wasted or under fraud which includes bots also.
The main reason for starting the blockchain advertisement
The main aim behind the step of blockchain advertisement is for ensuring the proper and appropriate spending on the vulnerable ads. The project is basically based on the small contracts along with NAT or the Native Alliance Token. The ads which are free from fraud along with the feature of being brand-safe, viewable are the only ads for which the party will be paid. This is to create transparency which enables the owner to pay clearly to each party. Previously encryption was the only way for allowing privacy. This process allows each of the party to view the data depending on their role.
So the Pepsico along with Mindshare followed the blockchain advertisement. Farida Shakshir is the Pepsico’s director of consumer engagement who commented that there was an increment of around 28 percent with this new innovative idea and so they are planning to run more such type of campaigns. She said,
“The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.”
Pepsico is, therefore, having a partnership with Ziliqa which is a public blockchain. This Ziliqa is similar to that of the Etherium, Bitcoin as it also uses the system of proof of work for the anti-spam mechanism.