Initial Thoughts on Comcast’s Budding Blockchain Romance

By Ken Brook, CEO

I’ve been on the ground at Cannes Lions for three days, and amidst the countless conversations with industry insiders about blockchain technology and its capabilities for digital advertising, one thing has been abundantly clear — the digital advertising industry has no idea what’s about to hit them. The Comcast announcement took a lot of people by surprise and left them scratching their heads.

The blockchain tsunami is coming and it’s a matter of when, not if. To us, the Comcast announcement made all the sense in the world and here’s why.

The market is prime for protocol-level innovation: As our industry continues to consolidate, large media conglomerates face a new type of challenge.

How do you bring together several disparate technology platforms that, at a macro business level, are synergetic, but at a data and infrastructure level, appear to be an interoperability nightmare?

These are the challenges that global media companies like Comcast and Oath are tackling and its clear they see the blockchain as a solution. Open Blockchains, as a shared source of truth, have the ability to fairly distribute value to those who use it (we call this ‘trustless coordination’).

In a blockchain, verified data is secured, distributed and monetized in a way that maximizes value because it can be both accessible and secure. Implementing a blockchain-based solution creates tremendous operational cost saving opportunities, greater efficiencies, and increased value to both subsidiaries and clients.

Another benefit is the ability to ensure real-time international data compliance. With the new data privacy laws, like the UK’s General Data Protection Regulation (GDPR), this new technology can guarantee compliancy. For multi-national companies building their business on data, the most frictionless path forward could be paved on a blockchain.

Comcast is ahead of the pack with this announcement, and based on my conversations at Cannes Lions with agencies, brands and other industry leaders, the rest of the industry is still learning what the blockchain is and how it works.

There is a knowledge gap, but make no mistake about it that gap is closing fast. Those brave enough to journey down the blockchain-rabbit hole will see the industry — and the exciting possibilities — in a whole new light.