The Marketing Group is launching a global media agency, called Truth, that's built to use blockchain smart contract technology.
Truth launches with offices in London, San Francisco, Singapore, Sydney and Auckland, providing a global solution for brands that want more transparency and better value.
It will be led by global chief executive Mary Keane-Dawson who joined TMG earlier in 2017 and chief operating officer Adam Hopkinson who will start on 1 December. Hopkinson joins from Anyclip where he was EMEA managing director.
"By bringing blockchain technology into the media world we will build a cleaner media supply chain with 100% transparency. We want to put the client first and believe this is the best way to do that," Keane-Dawson said.
How it will work
Truth promises to provide full transparency to clients thanks to its blockchain-based trading desk.
Hopkinson explained that the agency would be using blockchain as follows:
Business: An exchange network capable of moving assets between peers without the assistance of intermediaries. This cleans up the supply chain.
Tech: It will provide a backend database that maintains a distributed ledger so all transactions can be validated later.
Legal: It validates transactions, replacing trusted third parties and intermediaries
"With all this together, this is not a gimmick. It's a safe way to buy media with trust built into its fabric," Hopkinson said.
The problem, as with most trading desks, lies when inventory has to be purchased via a DSP or an SSP, it enters a black box.
"To overcome this, we have agreements with partners, including DSPs and SSPs, who will give us the data to record on the blockchain ledger," Adam Graham, chief executive of parent company TMG, explained. "We are also in the process of acquiring our own DSP and SSP."
Graham declined to disclose the names of the partners they were working with or the startup clients.
The local offices are being led in each market by key people from agencies that are members of TMG.
In San Francisco, Truth will be led by Brian Pegram, media director for DAE.
Laurent Verrier, chief executive and founder of One9Ninety will helm Truth in Singapore.
While in Sydney and Auckland, the new agency will be led by Mikey Taylor, chief executive of Channel Zero and Marianne McKenzie, managing director of Rainmakers, respectively.
(This article first appeared on CampaignLive.co.uk)