The research and development subsidiary of Kochava Inc., Kochava Labs SEZC, has announced that a partnership has been formed between the South Korean mobile advertising network Cauly and public service advertising Ad Council with XCHNG, the partnership program for the industry’s open source blockchain framework for digital advertising ecosystem. Kochava only introduced XCHNG platform as its partner earlier this year in April. This platform has also recruited Stefan Rust and Nick Johnson who were previously the founders & CEO of Exicon and Head of Advertising Sales at McClatchy, respectively.
Kochava introduced XCHNG platform in order to incorporate blockchain due to its growing usability and advantages. It was a means for decentralizing the digital advertising ecosystem. The partnership that was formed, has truly been favorable to the prospects of the company, enabling multiple partnerships. The CEO of Kochava Charles Manning expressed his opinion saying,
In the past few months, the XCHNG team has been making great strides in building key partnerships and developing strategic relationships. The Asian market is a critical component of our go-to-market strategy, and we are encouraged by the positive reception we have been receiving from the region. Our announcement of South Korean blockchain fund #Hashed’s investment during Korean Blockchain Week was just the beginning.
Manning also lay emphasis on how a partnership formed with the number one ranked mobile advertising network in South Korea could help the company in making a mark in the current industry. Cauly is being backed by the leading digital marketing company Future Stream Networks (FSN) and could potentially add to the value of OnXCHNG. Showing his enthusiasm for the newly formed alliance, Cho Changhyun, CEO of FSN Asia Private Limited, said:
Charles and his team at XCHNG have approached the ecosystem’s problem thoughtfully with XCHNG, and they are uniquely qualified to build this unified framework for digital advertising on the blockchain. There needs to be a paradigm shift in the industry, and we are thrilled to join XCHNG on this journey.
Cho also expressed how blockchain was becoming a vital part of the industry, getting increasingly adopted by major platforms due to the transparency it provides. With the experience he has had over the past years in the digital advertising ecosystem, he remains adamant on how only blockchain can inculcate trust among its users.