The UK government has awarded a six-figure grant to TAG TrustNet to further its work of making digital advertising more transparent and efficient.
The IPA supported TAG TrustNet throughout the process and facilitated the conversations that resulted in the grant from Innovate UK.
TAG TrustNet is a global initiative launched by the Trustworthy Accountability Group. TAG was founded in 2018 by the US trade bodies Association of National Advertisers (ANA), the Association of American Advertising Agencies and the IAB, and merged with its UK counterpart (JICWEBS).
TAG TrustNet uses blockchain technology – specifically, distributed ledger technology – developed by Fiducia. A distributed ledger is a database that is consensually shared, synchronised and made accessible to multiple people.
Tom Fiddian, head of artificial intelligence and data economy programmes at Innovate UK, said that the UK advertising sector is “leading the way” with the ledger technology.
He added: “By lending the weight of government support to this initiative we expect to accelerate widespread adoption in the UK, create a use case for other sectors to learn from, and facilitate export opportunities for the project.”
Mike Zaneis, chief executive at TAG, said: “As digital crimes become more sophisticated and complex, the ongoing work done within the TAG Community and initiatives like TAG TrustNet become more important than ever.”
“The support we’ve received from the IPA has demonstrated the industry’s need to continue to work more collaboratively in maintaining a safer and accountable digital advertising ecosystem.”
Innovate UK provides financial support and business advice to encourage investment in innovation and drive economic growth.
The ANA appointed TAG TrustNet as its technical partner in December 2021.