Considering the fact that its introduction in May 2017, the fundamental Attention Token (BAT) has been gradually overhauling the digital advertising space as we know it. In fact, it has been named probably the most promising cryptocurrency in 2020. Get much more information about free bat
Advertisers and publishers in China and about the world have extended been battling ad fraud. In the identical time, customers are tired of receiving undesirable advertisements. So what’s the solution?
Let us present “blockchain-based digital advertising”. Within this Tenba Group post, we introduce the background of digital advertising by means of blockchain, in addition to this thrilling new technology, its 3 key benefits, and how your business can profit from this.
Ensure that to not confuse the BAT, which stands for Fundamental Attention Token, with another renowned abbreviation in the Chinese world, exactly where BAT stands for “Baidu, Alibaba, Tencent“. They are China’s number one search engine, ecommerce platform, and tech giant behind WeChat and QQ respectively.
Explaining Ad Fraud
Just before we clarify the fundamental Attention Token in much more detail, it makes sense to look at why the BAT has been created in the initially place. Digital ad fraud is regrettably much more popular than one may possibly think. Some sources state around 30 billion USD per year in digital ad fraud!
And China holds the unfortunate record as the world’s ad fraud capital. If fact, around 80% on the worldwide ad fraud occurs in China. Amongst ad stacking, bots, fake users, and a lot of other nefarious techniques of making illegitimate final results, ad fraud leaves customers, publishers, and advertisers frustrated.
Here is an instance of one way that ad fraud wreaks havoc in the digital ad world. Let’s say a business with a website signs up to get paid for each 1,000 views of their site. A bot refreshes the page to drive up the number of views or “impressions”.
When it reaches 1,000 views, the advertiser continues to be charged for the view despite the fact that there was no likelihood that the users who viewed the site had been ever going to buy something in the site. For businesses that display advertisements, ad fraud can improve conversion expenses till it’s no longer lucrative to run ads any longer.
The Victims of Ad Fraud
Ad fraud affects companies and ad agencies all the time. Well-known international high-end brands like Apple or Dior, and have a tendency to become a lot more impacted. A Chinese advertising agency can report that an ad campaign was a good results. When in fact, the outcomes had been muddy at finest and illegitimate at worst.
By way of example, really higher ad viewability sounds like a fantastic outcome on its own. But in case you look additional closely, high viewability having a zero enhance in sales is usually a sign of ad fraud. Meanwhile, customers like us are overwhelmed with aggressive and invasive ads. Not to mention, consumers endure from slowed-down devices mainly because of tracking software.
What’s the Standard Focus Token?
BAT is definitely an ERC20 token, that is basically a token based on Ethereum blockchain technologies. It serves as the currency for the exchanges that occur in between advertisers, publishers, and customers on the network. Essentially, it monetizes human interest and “pays” users to surf the web.
It really is critical to note that BAT will not be a currency within the financial sense, but rather a utility token. Based on basicattentiontoken.org, the tokens “do not represent or confer any ownership ideal or stake, share or security or equivalent rights, or any proper to receive future income shares, intellectual property rights, or any other type of participation in or relating towards the BAT platform.” BAT is often stored in any ERC20 compatible wallet.
The usage of BAT
The plans for using BAT are nevertheless developing. The key usage will probably be integrating it together with the Brave browser. That is already in full swing, but we will get to that inside a small bit.
Due to the fact April 2019, the BAT could be traded for real-world rewards which include Amazon, Starbucks, Apple, and Uber. Other prospective uses may very well be to pay customers to view ads in messenger apps like Telegram. The future capabilities of BAT have considerably prospective and look really promising, in particular due to the fact it’s nevertheless rather new.
Blockchain Technologies in China
Whereas blockchain is a massive deal in China, and projects similar to BAT have already been began, none of them have been rolled out. The truth is, China leads the world in blockchain-related patents, and more than 35,000 blockchain companies are operating in mainland China. At the end of 2019, China even announced that it’s also working on its own cryptocurrency in addition to a digital token.
In China, there’s no blockchain-solution like the BAT to combat ad fraud but. Due to the fact the Middle Kingdom’s number one search engine Baidu is filled with advertisements, there’s, in truth, the really need to launch a solution just like the Simple Interest Token there.
How can BAT aid against Ad Fraud?
BAT can revolutionize the digital ad space because it is depending on blockchain technology. Should you keep in mind from our earlier blog post about Steemit, blockchain technology relies on a public ledger that does not have one single owner. This suggests that fraudulent activity is going to be virtually impossible to conduct mainly because every node in the blockchain has to check and approve each and every transaction.
So, how can it aid with ad fraud? A common scenario that occurs in digital marketing is the fact that a marketing platform, publisher, and advertiser all claim a diverse quantity of impressions (likely on account of fraudulent activity).
So, which of those three has essentially the most correct data? The answer is unclear. Blockchain technologies will avert this situation since the network will verify every transaction.
Considering that China is by far most affected by ad fraud globally, the have to obtain a solution is pressing. Perhaps taking a look at BAT along with the Brave Browser can provide the spark of inspiration to lastly roll out an equivalent solution inside the Middle Kingdom.
Introducing the Brave Browser
Every person has their favorite browser using the preferred ones becoming Chrome, Firefox, or even Edge. But picture a brand new browser that fully blocks advertisements and requires privacy to a entire new which means. Welcome Brave Browser, the free and open-source browser with an ambitious future.
Having a tagline that says, “You aren’t a product,” the Brave browser has a program for eliminating malware, trackers, and fraud. In line with Brendan Eich, this strategy rolls out in two stages:
Stage one is usually to block ads and trackers and reward sites according to user attention.
Stage two is usually to move towards decentralized ad exchange and introduce a new currency.
This can be where the BAT comes in. It is possible to earn the utility token by providing interest to ad content material or something else the customers look at. So, the publishers will acquire ad revenue inside the form of tokens, and users obtain tokens for viewing advertisements.
However, on account of the strict internet censorship, Chinese customers nevertheless have difficulties to download the Brave Browser. They depend on browsers like UC, QQ, and Baidu alternatively.