The upcoming blockchain platform has integrated IAB Tech Lab's Protocol for guaranteed programmatic buying.
GRAND CAYMAN, Cayman Islands, Feb. 21, 2019 /PRNewswire/ -- Kochava Labs SEZC, a research and development subsidiary of Kochava Inc. architecting the XCHNG (www.xchng.io) blockchain, announced implementation of the IAB Technology Laboratory (IAB Tech Lab)'s OpenDirect v2.0 which was released February 13, 2019. Conforming to the IAB Tech Lab standard allows a new technology blockchain and XCHNG to easily be adopted at scale.
The IAB Tech Lab is a non-profit consortium that engages a member community globally to develop foundational technology and standards that enable growth and trust in the digital media ecosystem. Comprised of digital publishers, ad technology firms (such as Kochava), agencies, marketers, and other member companies, the IAB Tech Lab focuses on improving the digital advertising supply chain, measurement, and consumer experiences, while promoting responsible use of data.
As stated within their announcement, "the final spec brings the digital marketing ecosystem into a new era for programmatic automated media buying and selling." By implementing OpenDirect's standard, XCHNG will include publishers that guarantee premium inventory and enable direct negotiation between media buyers and sellers at a programmatic and even playing field for all participants.
Dennis Buchheim, Senior Vice President and General Manager of the IAB Tech Lab, stated, "We're thrilled that companies like Kochava/XCHNG are looking to further their impact with blockchain technology by implementing an open and standard protocol like OpenDirect. The two initiatives are trying to achieve the same end goal, standards and efficiencies for digital advertising."
Charles Manning, CEO of Kochava, further explained, "XCHNG will be leveraging this technology in springboarding adoption from a well-known standard driven from IAB into our blockchain product, XCHNG. Adoption of this type of standard is important for Kochava and XCHNG in staying an unbiased third party and allowing all parties to buy and sell media/data at scale."
Kochava CEO, Charles Manning is available for interview.
About XCHNG XCHNG is an open and unified blockchain-based framework for the digital advertising ecosystem. Designed and deployed by Kochava Labs SEZC, a research and development subsidiary of Kochava Inc., the XCHNG framework is centered around a common Ricardian Smart Contract with an open blockchain implementation to persist transactional history and provide supporting utilities required for maximizing efficiency through the lifecycle of the IO. XCHNG is designed to enable the related targeting and activation of audiences, bolsters ad-spend efficiency and transparency, establishes a next-generation system of record for all participants.