While massive industry domains and influential institutions are implementing the emerging blockchain technology in their process, the crypto market is showing not so exciting prices of the currencies. Despite the slump in the market, a US-based telecom giant is mulling over its plan to make its blockchain initiative.
Comcast, an American global telecommunications conglomerate is going to develop its own Blockchain based product named ‘Blockgraph’. It is aimed to be commercially available from 2019, as revealed by Comcast Corporation’s ad division.
Blockgraph is build to help media owners and advertisers securely share the data for addressable TV advertising. The press release by the firm states, “Comcast is currently working with NBCUniversal to test Blockgraph’s capabilities with plans of incorporating it into its addressable offering in early 2019.”
Talking about the firm Comcast, it is a worldwide media company established in 2001. Comcast operates as a provider of cable television, Internet and telecoms services. Currently, the company is working on the project with other huge industry names which include mass media conglomerate Viacom and advertising sales firm Spectrum Reach.
With this initiative, it will offer an “identity layer” for the TV industry, which will help media companies to share non-identifiable audience data. The peer-to-peer platform is designed to enhance the efficiency and effectiveness of TV marketing and advertising.
On this, President of Spectrum Reach David Kline expressed, “It’s imperative that the use of data prioritizes the privacy of consumers’ personal information. Blockgraph’s technology offers enhanced security and privacy protections by allowing all players within the TV ecosystem to directly share insights derived from anonymized and aggregated information.”
Apart from its own blockchain product, Comcast has also provided support to other blockchain development projects. Back in March, Comcast led a $3 million venture capital seed round to back New York-based blockchain startup Blockdaemon.
Notably, Comcast is the second largest broadcasting company in the world regarding revenue. Its consolidated revenue for the third quarter of 2018 was $22.1 billion. It is known as the most significant TV company in the United States.
Moreover, Minnesota Attorney General Lori Swanson has filed a lawsuit today against Comcast Corporation/Xfinity. The lawsuit claims that it has charged customers more than it promised.