A South Korean tech giant wants to put ads on chain. LG Electronics, which makes TVs, laptops, and a slew of other consumer devices, is building out a blockchain-based network designed for advertising, the company told Fortune. The firm has its own dedicated blockchain research lab and piloted the project with an unnamed Japanese ad agency.
The new platform provides advertisers and publishers with a shared database of ad inventory and records how customers have interacted with the advertisements. LG Electronics worked with Arbitrum, a so-called layer-2 protocol on top of Ethereum, to develop its own blockchain. The collaboration resulted in LG building its own layer-2 network, which provides a low-cost means of batching transactions. The company will explore how to bring the ad platform to market later this year.
