3 Key Benefits of the Standard Consideration Token (BAT)
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Considering the fact that its introduction in May well 2017, the fundamental Interest Token (BAT) has been gradually overhauling the digital advertising space as we know it. In reality, it has been named by far the most promising cryptocurrency in 2020.
Advertisers and publishers in China and around the world have long been battling ad fraud. In the very same time, users are tired of receiving undesirable ads. So what’s the solution?
Let us present “blockchain-based digital advertising”. Within this Tenba Group write-up, we introduce the background of digital advertising by means of blockchain, and also this thrilling new technologies, its 3 key benefits, and how your business can profit from this.
Be sure to not confuse the BAT, which stands for Fundamental Interest Token, with an additional popular 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 Consideration Token in additional detail, it makes sense to look at why the BAT has been developed inside the first spot. Digital ad fraud is regrettably far more popular than one could consider. Some sources state about 30 billion USD per year in digital ad fraud!
And China holds the unfortunate record because the world’s ad fraud capital. If reality, around 80% on the worldwide ad fraud happens in China. In between ad stacking, bots, fake users, and lots of other nefarious strategies of generating illegitimate outcomes, ad fraud leaves customers, publishers, and advertisers frustrated.
Here is an example of one way that ad fraud wreaks havoc within the digital ad world. Let’s say a business using a website signs as much as get paid for every 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 possibility that the customers who viewed the site had been ever going to get something in the site. For businesses that display advertisements, ad fraud can improve conversion costs until it is no longer lucrative to run ads anymore.
The Victims of Ad Fraud
Ad fraud affects companies and ad agencies each of the time. Well-known international high-end brands like Apple or Dior, and have a tendency to become more impacted. A Chinese advertising agency can report that an ad campaign was a results. When in reality, the outcomes had been muddy at most effective and illegitimate at worst.
For instance, quite higher ad viewability sounds like a very good outcome on its own. But if you look a lot more closely, high viewability having a zero boost in sales is generally a sign of ad fraud. Meanwhile, customers like us are overwhelmed with aggressive and invasive ads. Not to mention, customers suffer from slowed-down devices for the reason that of tracking software.
What's the Standard Focus Token?
The basic Interest Token was founded by Brendan Eich, precisely the same man who made the programming language JavaScript and co-founded the open-source software company Mozilla.
BAT is an ERC20 token, which can be basically a token based on Ethereum blockchain technology. It serves as the currency for the exchanges that take place amongst advertisers, publishers, and users from the network. Essentially, it monetizes human interest and “pays” users to surf the web.
It can be essential to note that BAT isn't a currency within the financial sense, but rather a utility token. Based on basicattentiontoken.org, the tokens “do not represent or confer any ownership appropriate or stake, share or security or equivalent rights, or any suitable to acquire future income shares, intellectual property rights, or any other type of participation in or relating towards the BAT platform.” BAT might be stored in any ERC20 compatible wallet.
The use of BAT
The plans for using BAT are nevertheless developing. The principle usage is going to be integrating it using the Brave browser. That is already in complete swing, but we are going to get to that in a little bit.
Since April 2019, the BAT is often traded for real-world rewards like Amazon, Starbucks, Apple, and Uber. Other possible uses could possibly be to pay customers to view ads in messenger apps like Telegram. The future capabilities of BAT have significantly possible and look pretty promising, specifically due to the fact it is nevertheless rather new.
Blockchain Technology in China
Whereas blockchain is a big deal in China, and projects comparable to BAT happen to be began, none of them have been rolled out. In truth, China leads the world in blockchain-related patents, and much more than 35,000 blockchain companies are operating in mainland China. At the end of 2019, China even announced that it is also functioning on its personal cryptocurrency and a digital token.
In China, there is 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 ads, there is certainly, in fact, the really need to launch a solution just like the Basic Attention Token there.
How can BAT support against Ad Fraud?
BAT can revolutionize the digital ad space because it is based on blockchain technologies. Should you bear in mind from our preceding blog post about Steemit, blockchain technology relies on a public ledger that doesn't have one single owner. This indicates that fraudulent activity will likely be practically impossible to conduct for the reason that each and every node in the blockchain has to verify and approve each and every transaction.
So, how can it support with ad fraud? A popular scenario that occurs in digital marketing is that a marketing platform, publisher, and advertiser all claim a distinctive amount of impressions (probably as a result of fraudulent activity).
So, which of those 3 has probably the most precise information? The answer is unclear. Blockchain technologies will protect against this problem since the network will verify each transaction.
Considering that China is by far most affected by ad fraud globally, the have to locate a solution is pressing. Maybe taking a look at BAT and also the Brave Browser can supply the spark of inspiration to lastly roll out an equivalent solution in the Middle Kingdom.
Introducing the Brave Browser
Every person has their favorite browser together with the preferred ones becoming Chrome, Firefox, or perhaps Edge. But consider a brand new browser that fully blocks ads and requires privacy to a complete new which means. Welcome Brave Browser, the free and open-source browser with an ambitious future.
With a tagline that says, “You are not a product,” the Brave browser features a program for eliminating malware, trackers, and fraud. Based on Brendan Eich, this plan rolls out in two stages:
Stage one should be to block advertisements and trackers and reward sites based on user interest.
Stage two would be to move towards decentralized ad exchange and introduce a brand new currency.
This really is where the BAT comes in. You can earn the utility token by providing focus to ad content or something else the customers look at. So, the publishers will acquire ad revenue inside the type of tokens, and customers obtain tokens for viewing ads.
However, as a result of the strict internet censorship, Chinese users nonetheless have troubles to download the Brave Browser. They rely on browsers like UC, QQ, and Baidu instead.
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Datum: 09.09.2020 - 06:52 Uhr
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