LG Electronics, one of the world’s largest consumer electronics and home appliance companies, is building a blockchain-powered advertising network that would allow advertisers and publishers to share ad inventory data and track customer engagement through a decentralized ledger, the company said Thursday.
Developed with Arbitrum, the system operates on LG’s own layer 2 blockchain, which is designed to process transactions more efficiently and at lower cost.
Following a pilot with a Japanese advertising agency, LG is considering how to bring the product to market later this year. The approach is expected to reduce manual processes and improve efficiency across the advertising ecosystem.
This is a developing story.
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