TechFlow reported on June 12, citing The Block, that LG Electronics is developing a new blockchain based on Arbitrum, an Ethereum layer-2 network. The project is designed for digital advertising operations, including the placement, purchase, sale and management of ads. It will also record interaction data between users and advertisements.
According to the report, the project is being developed by LG’s dedicated blockchain research laboratory. In addition to managing advertising workflows, the blockchain will provide advertisers and publishers with a shared database for advertising inventory, supporting coordination around digital ad supply.
LG has already started a pilot with an unnamed Japanese advertising agency. Following the news, Arbitrum’s native token ARB rose more than 5% on the day. The report links LG Electronics’ advertising-focused blockchain initiative directly with the Arbitrum network.