IBM iX’s Robert Schwartz Believes Blockchain Could Bring “Loads of Disruption”

2018-6-22 00:46

The technology industry could be using “bananas” to describe blockchain, says IBM iX’s global leader of agency services, Robert Schwartz. The executive noted that the use of blockchain could bring disruption to businesses, as well as governments. By bringing transparency into these old legacy systems, the distributed ledgers could create a new future for everyone.

Are We Naming Blockchains Right?

Schwartz had a lot of things to say about the revolutionary technology. However, he noted that most people in the marketing and communications industry have no idea about how the concept could be used in brands. He said:

“The words we use to describe blockchain are bananas! I work for a technology company, god bless them, but I would never select a technology person to brand or name anything. So, this is what I’d tell my 74-year-old mother (about blockchain).”

Disruptive Technology

Schwartz further states that “Blockchain will bring disruption, not just for traditional industries, but lots of governments. We will see so much change because of blockchain.” He described governments as inherently not transparent organizations. Use of distributed ledgers could bring transparency to the system.

IBM iX is leveraging the technology to create a media transaction tracker. This tool was developed in partnership with software company Mediaocean and is designed to catch fraud in online advertising businesses.

The company tweeted:

“‘The promise of #blockchain will scale the opportunity to clean things up [in media buying].’ @rmaster of @Unilever during the announcement of a major partnership between IBM and Mediaocean to integrate blockchain across the media ecosystem. #CannesLions #ReinventMarketing.”

The project will likely hit the middlemen and take money away from them, directly to the publishers of the content. A pilot of the movie will be run in partnership with Watson, Kellogg, Pfizer, Kimberly-Clark Corporation and Unilever.

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