Can blockchain technology help solve ad fraud? MetaX believes so.

Santa Monica, Calif.-based MetaX is one of the latest ventures to bring blockchain technology to digital advertising. The company’s solution, launched in private beta this week, takes aim at ad fraud with a new blockchain-based solution.

“Innovation in digital advertising is growing faster than our standard industry protocols can support. This has created gaps in the ecosystem that can be exploited,” said Ken Brook, co-founder of MetaX. “Blockchain has a number of exciting implications for digital advertising. Fraud prevention is a natural first application given the transparency and security blockchain brings, and because fraud is such a major issue for the advertising sector.”

Blockchain’s roots are in cryptocurrency trading technology. In an advertising context, it can provide an independent and shared record of transactions — or impressions, clicks, audience segments and other data associated with a campaign and an ad impression — in “blocks” in a way that can be audited by various stakeholders, including advertisers, publishers, verification vendors, DSPs, ad exchanges and others.

The MetaX platform provides access to the company’s adChain protocol without the need for extensive integration. The protocol enables secure communication between parties like publishers and advertisers and provides a transaction record that can mitigate fraud risk.