Unilever NV (ADR) ADR (NYSE:UN) has teamed with Blis and two other investment companies, Beringea and Endeit, to support a blockchain pilot platform. The company wants to provide greater data verification and transparency through this platform that is operated by the technology company Blis. Unilever along with its partners will run the pilot platform on the technology of the IBM Blockchain Platform.
Unilever backing blockchain project to streamline demographic data
According to reports, the project is being developed to meet the demands for better data protection and transparency. This is why Unilever and its partners intend to streamline the way demographic data is held, collected and verified. This decision stemmed from the recent changes in the GDPR data protection law in Europe.
Executive Vice President for Unilever’s Global Media, Luis Di Como said, “Unilever is committed to partnering with organisations which create better digital infrastructure. This new capability is an important step towards transparency and clarity in data provenance and compliance across our global activity.” Unilever will evaluate and refine the platform so that data providers and advertisers will have greater confidence on the data they derive from it.
Chief executive officer at Blis, Greg Isbister, stated that they are taking a novel approach to keeping track of geographical data for online advertising and help solve a critical issue. Isbister stated that Blis will combine its expertise with blockchain-based technology and offer a new alternative for addressing the growing accountability, trust and transparency requirements that are currently haunting the world of advertising.
Clients to benefit from new development
Clients can enjoy the benefits of this latest development as it will enable them to validate the origin of data and maintain transparency. They will be able to evaluate whether the individual providers are following the GDPR regulations or not. Also, the brands will simply have to access the platform for analyzing the data being used by them. The platform can be accessed by everyone for data transactions from Wi-Fi data to individual apps. Blis being a proprietary data technology company has been trying to integrate blockchain into its work for a year as it wants to establish its dedication to transparency.
