TMG (The Marketing Group) has launched Truth which it claims is the first media agency in the world to utilise blockchain smart contract technology.
Truth will provide 100 per cent transparency in a media industry with TMG says is “murky at best, and fraudulent at worst”.
Truth’s proprietary, media buying and planning platforms will ensure global best practice and complete GDPR compliance.
The outfit will be headed up by Mary Keane-Dawson who joined TMG earlier in 2017, and Adam Hopkinson who joins as COO from 1st December.
It has been launched in response to the erosion of trust between advertisers, media agencies and media owners. The company said the industry is ripe for innovation, where middlemen and the layers involved in media planning and buying can easily strip 80 percent of the value between brands and media owners.
Truth’s use of blockchain technology revolutionises the traditional process, allowing for complete transparency for all involved, the company said.
Truth has commissioned research, alongside London Research, among CMOs and others with budget responsibility for programmatic advertising, which demonstrates demand for a new honest agency model.
Initial findings reveal that 79 percent of those questioned are concerned about the level of transparency in programmatic advertising and over one third rate their trust in their agency as medium or low.
Truth CEO Mary Keane Dawson said: “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.”
It will launch with offices in London, San Francisco, Singapore and Sydney, providing a global solution for brands that want more transparency and better value.
