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Electronics giant LG is building a blockchain network dedicated to buying and selling digital advertisements, working with Arbitrum — a cryptocurrency platform — to pursue a foothold in a global ad market the companies put at $679 billion.
The announcement adds LG to a growing roster of corporations that have launched proprietary blockchains in recent years.
What a Dedicated Ad Blockchain Actually Does A blockchain, in plain terms, is a shared ledger that records transactions across many computers, making entries difficult to alter after the fact.
The pitch for applying that structure to advertising is straightforward: ad spending passes through a long chain of intermediaries — agencies, exchanges, data brokers — and a shared ledger, in theory, gives buyers and sellers a common, tamper-resistant record of where money went and whether ads were actually seen.
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