GRAND CAYMAN, Cayman Islands, Feb. 23, 2018 /PRNewswire/ -- Kochava Labs SEZC, a research and development subsidiary of Kochava Inc., announces a new advisor to XCHNG, the open source blockchain framework for the digital advertising ecosystem. This announcement wraps up a successful Fifth Annual Kochava Mobile Summit, which took place February 14 through 16 at Kochava Inc. Headquarters in Sandpoint, Idaho. Mark Connon, former Senior Vice President and Global Chief Mobile & Data Officer at AOL Platforms & Advertising, is the newest XCHNG advisor.
Kochava CEO, Charles Manning, said, "This year's Kochava Mobile Summit has
brought together over 200 mobile industry experts who were enthusiastic and
curious about the far-reaching transformative capabilities of blockchain on
digital advertising. During the Summit, conversations centered around digital
advertising's fast-moving landscape and possible solutions—all of which can be
facilitated on XCHNG and the XCHNG smart contract insertion order. By assembling
some of the leading companies and experts in digital advertising, blockchain,
markets and beyond, to be part of XCHNG, we are quickly realizing our vision of
a unified framework for the industry that is centered around the next generation
Several presentations during the Kochava Mobile Summit served to educate the audience about blockchain and distributed ledger technology (DLT) and the future of digital advertising. Summit attendees were the first to see a live demo of the Consensus Engine Benchmark within XCHNG. The team showed transaction speeds of the peer-to-peer layer network consensus engine, which is how transactions are processed. XCHNG demonstrated the ability to handle 180,000 transactions per second to a single smart contract composed of multiple insertion orders.
Attendees also discovered how new technologies like XCHNG will help fight fraud, improve transparency, facilitate secure and efficient transactions, and most importantly, how blockchain applies to their business.
"Beyond the hype, marketers are interested in the operational value of blockchain being applied to digital advertising. Few companies have the capacity to deliver on that, but marketers are seeing that we're working toward that end with XCHNG," Manning said.
Fraud is the scourge of the digital advertising industry, conservatively siphoning 20 percent of all ad spend and costing billions. Kochava identifies 27 percent of installs as fraudulent. In her keynote during the Summit, blockchain expert and former federal prosecutor Kathryn Haun shed light on the darknet and tactics of fraudsters, while Kochava shared new and more sophisticated fraud detection and mitigation tools available now. Attendees learned that fighting fraud involves defining it and communicating with media partners. To start, ensuring that marketers receive clean signals (data sent appropriately) is crucial to mitigating fraud.
Kochava Mobile Summit attendees regularly report that the event is a wealth of rich content relevant to advertisers and publishers today and forward-looking into the next few quarters. As such, the presentation on General Data Protection Regulation (GDPR) regulations and requirements was lively with interactive discussion, arming Summit attendees with insights to inform their own plans for compliance with the forthcoming European regulations.
Kochava will sponsor the App Lounge at the upcoming Mobile World Congress, February 26 through March 1, 2018 in Barcelona. Considered the world's largest gathering for the mobile industry, over 108,000 attendees will be in attendance at Mobile World Congress. At the event, the XCHNG team will host a media breakfast with an intimate Q&A discussing the current digital advertising landscape, XCHNG's role as a founding member of the Interactive Advertising Bureau's (IAB) Blockchain Tech Lab, and how XCHNG is engaging all industry stakeholders and participants from the start to construct one of the fastest blockchain protocols in existence to handle the large transaction volumes represented in advertising.
Since its inception in 2011, Kochava Inc. has aimed to better understand the feedback loop between user acquisition, engagement, and lifetime value throughout the digital ecosystem. Their clientele includes the world's top advertisers and Fortune 100 companies, which depend on Kochava Inc. to measure over $6 billion in ad spend annually. Through their industry-leading technology, Kochava Inc. sheds light on the effectiveness of ad spend on all connected devices and is uniquely positioned to deliver this blockchain solution to the industry.