TMG (The Marketing Group Plc) today announces the launch of TRUTH, the first media agency in the world to use blockchain smart contract technology.
A blockchain is a continuously growing list of records which are linked and secured, using cryptography, to produce an immutable, distributed ledger.
Because blockchains are transparent and secure by design, they are highly suitable for use in creating smart contracts, transferring funds and documenting the provenance of a supply chain.
Many experts believe that blockchain technology could have an effect as profound as that of the internet itself.
TRUTH will be headed up by Mary Keane-Dawson who joined TMG earlier in 2017, and Adam Hopkinson,previous Anyclip EMEA MD, who joins as COO from 1st December.
TRUTH has commissioned research, alongside London Research, among CMOs and others with budget responsibility for programmatic advertising, which demonstrates demand for a new honest agency model. Initial findings reveal that 79% of those questioned are concerned about the level of transparency in programmatic advertising and over one third rate their trust in their agency as medium or low.
TRUTH has been launched in response to the erosion of trust between advertisers, media agencies and media owners. The industry is ripe for innovation, where middlemen and the layers involved in media planning and buying can easily strip 80% of the value between brands and media owners. TRUTH’s use of blockchain technology revolutionises the traditional process, allowing for complete transparency for all involved.
Mary Keane Dawson, CEO of TRUTH, said: “By bringing blockchain technology into the media world we will build a cleaner media supply chain with 100% transparency. We want to put the client first and believe this is the best way to do that.”
Commenting on the new agency, Adam Graham, CEO of parent company TMG, added: “We are entering a new dawn in data driven advertising and TRUTH will be at the heart of that. We know from our research that CMOs are demanding change. We will be that change.”
TRUTH launches with offices in London, San Francisco, Singapore and Sydney, providing a global solution for brands that want more transparency and better value.
Image over the headline.- Mary Keane Dawson (CEO of TRUTH); Adam Hopkinson (COO of TRUTH) and Adam Graham (CEO of parent company TMG). TMG image (PRNewsfoto/The Marketing Group Plc)