Anheuser-Busch InBev, the world’s largest brewer, has announced it is to turn to blockchain technology in a bid to improve supply chains in the digital advertising market.
The brewing colossus, which produces brands including Budweiser, Estrellas, Michelob Ultra and Bud Light, announced it was launching ads through the Klip mobile platform, an app which tracks advertising data on the ethereum blockchain.
The aim of the campaign is to monitor results, with a view to ultimately increasing the reach of successful campaigns by harnessing data collected and written to the blockchain.
The move effectively positions the brewer to take advantage of the unique properties of blockchain, the technology behind cryptocurrencies like bitcoin.
The campaign will also aim to detect mobile ad fraud, in a bid to boost transparency in the sector. With the help of the Klip app, Anheuser-Busch will be able to automatically record a number of key data points from the campaign, and in a way that saves time on monitoring and interpreting campaign data.
The app collects a number of significant campaign metrics, including impressions, price and engagement – data that will be factored in to determining whether ad buyers are permitted to expand the reach of specific campaigns.
This would allow for much more efficient digital advertising, as well as reducing the costs associated with monitoring and tracking campaign results, and could have implications for digital advertisers more broadly in future.
The concept has already been welcomed as a potentially significant development, and one that leverages blockchain technology to cut costs and improve performance.
While innovative in its own right, the move from AB InBev is far from their first venture into blockchain technology.
Back in March, the firm joined a collaborative effort to examine blockchain systems in the shipping and transportation sector, another industry expected to benefit from improving blockchain technologies.
At the time, an AB InBev vice president described the technology as “transformational”.
“We continually evaluate new technologies and innovations to enhance our operations to meet consumer needs and deliver the freshest beer. Blockchain technology will be transformational to our business and the world. It reduces mistakes, digitizes information and improves the supply chain process so we can focus on our core business of brewing the best beers for consumers.”