The UK government innovation agency has awarded a six-figure grant to a blockchain initiative which aims to process billions of advertising impressions in near real-time.
TAG TrustNet uses Distributed Ledger Technology (DLT) to create a decentralised digital database for digital advertising.
It is described as a "first-of-its-kind initiative" and TAG TrustNet was launched as a global initiative by the ANA, the 4A's, and the IAB to "stop criminal activity and increase trust and transparency in digital advertising".
Innovate UK, the government's innovation agency, said TAG TrustNet was one of the most advanced DLT innovation programmes across the UK economy.
Tom Fiddian, head of AI and data economy programmes at Innovate UK, said: “The UK advertising sector is leading the way in demonstrating how a co-ordinated industry-led approach using block-chain technology can clean up supply chain issues and drive digital innovation.
"By lending the weight of Government support to this initiative we expect to accelerate widespread adoption in the UK, create a use case for other sectors to learn from, and facilitate export opportunities for the project,” he added.