LG Electronics is building a blockchain network for advertising and media use, Fortune reported on June 11.
LG Electronics is developing the network based on Arbitrum, an Ethereum layer-2 solution, the report said.
The LG Electronics network is billed as a platform for placing, buying, selling and managing digital advertising. The company aims to make advertising more transparent and efficient through on-chain transactions. It records how customers interacted with ads and provides a shared advertising inventory database for advertisers and publishers.
The blockchain being developed by LG Electronics has not yet been named. Fortune reported that LG Electronics ran a pilot project related to this with an anonymous Japanese advertising agency.
Arbitrum is an Ethereum layer-2 solution developed by Offchain Labs. It uses an optimistic rollup method to provide fast and low-cost transactions.
Chi-gyu Hwang
delight@d-today.co.kr