Luis Di Como – Unilever VP for the social media sector – has reportedly disclosed that blockchain technology has contributed extensively to the reduced cost. 

Specifically, the major FMCG heavyweight announced that throughout the pilot phase for the blockchain project, no data in its media investments has been leaked out. The new blockchain-base tool has offered an improved ad reconciliation in a “process by which advertisers ensure contracted agreements are actually delivered.”

Unilever has been teamed up with global tech giant IBM to develop the blockchain system during the past year and a half. Statistically, Unilever has reduced its cost down by 2-3% thanks to the blockchain system. 

In addition to the project, Unilever plans to bring up the scale of the program and form a consortium with ad software company Mediaocean. 

“This is not going for the latest shiny tool. […] We are going through our rules and our principles to build trust again and having full transparency across all of our operations. [It is not a] cost-cutting exercise. […] It’s about finding better ways of doing things and releasing capacity to invest more in strategy, communications and media investment.” Di Como remarked regarding the announcement.