Ashley MacKenzie, media executive and son of former editor of The Sun, Kelvin MacKenzie, is trying to raise money to launch a new blockchain agency, called Fenestra.
According to The Times, the blockchain technology will be designed to plug into brand’s marketing efforts, offering “a new, independent and more transparent model”.
MacKenzie said: “Change is coming. Advertising is an incredibly powerful tool, today’s media supply chain does not work in favour of the advertiser who ultimately funds it.”
The company is pitching that the tech can instill trust back in the media supply chain, giving a better idea of where spend goes. It has already reportely raised $1.5m.
There is a lot of talk about whether blockchain is actually the tool that can clean up the industry. If properly implemented, the decentralised ledger would be continuously updated with ad buys, helping keep an infallible register of digital ad spend. Once entered, the transaction is encrypted, and cannot be edited.
Truth, a media agency that's part of The Marketing Group, launched last November with a similar promise to harness the tech to provide full transparency to advertisers.