3 Key Benefits from the Simple Focus Token (BAT)
Given that its introduction in May perhaps 2017, the basic Focus Token (BAT) has been gradually overhauling the digital advertising space as we know it. The truth is, it has been named by far the most promising cryptocurrency in 2020. Get much more information about earn bat
Advertisers and publishers in China and about the world have lengthy been battling ad fraud. In the same time, users are tired of receiving unwanted ads. So what’s the solution?
Let us present “blockchain-based digital advertising”. Within this Tenba Group post, we introduce the background of digital advertising through blockchain, along with this thrilling new technology, its 3 key benefits, and how your business can profit from this.
Make sure to not confuse the BAT, which stands for Simple Consideration Token, with one more famous abbreviation within the Chinese world, where BAT stands for “Baidu, Alibaba, Tencent“. These are China’s number one search engine, ecommerce platform, and tech giant behind WeChat and QQ respectively.
Explaining Ad Fraud
Before we clarify the fundamental Consideration Token in much more detail, it tends to make sense to look at why the BAT has been created in the first place. Digital ad fraud is unfortunately much more prevalent than one could feel. 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 fact, around 80% in the worldwide ad fraud occurs in China. Between ad stacking, bots, fake users, and a lot of other nefarious strategies of making illegitimate outcomes, ad fraud leaves customers, publishers, and advertisers frustrated.
Right 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 web page to drive up the number of views or “impressions”.
When it reaches 1,000 views, the advertiser is still charged for the view despite the fact that there was no opportunity that the customers who viewed the site were ever going to buy something in the site. For businesses that display ads, ad fraud can increase conversion expenses until it’s no longer lucrative to run advertisements any longer.
The Victims of Ad Fraud
Ad fraud impacts companies and ad agencies each of the time. Well-known international high-end brands like Apple or Dior, and have a tendency to become much more affected. A Chinese advertising agency can report that an ad campaign was a success. When in reality, the results were muddy at most effective and illegitimate at worst.
By way of example, pretty higher ad viewability sounds like a fantastic outcome on its own. But in the event you look more closely, higher viewability with a zero boost in sales is generally a sign of ad fraud. Meanwhile, customers like us are overwhelmed with aggressive and invasive advertisements. To not mention, consumers suffer from slowed-down devices mainly because of tracking software.
What’s the Simple Interest Token?
The fundamental Interest Token was founded by Brendan Eich, the same man who produced the programming language JavaScript and co-founded the open-source software company Mozilla.
BAT is definitely an ERC20 token, which is simply a token based on Ethereum blockchain technologies. It serves because the currency for the exchanges that happen in between advertisers, publishers, and customers of your network. Basically, it monetizes human consideration and “pays” customers to surf the web.
It really is crucial to note that BAT is not a currency in the financial sense, but rather a utility token. In line with basicattentiontoken.org, the tokens “do not represent or confer any ownership right or stake, share or security or equivalent rights, or any appropriate to receive future income shares, intellectual property rights, or any other kind of participation in or relating for the BAT platform.” BAT is usually stored in any ERC20 compatible wallet.
The use of BAT
The plans for using BAT are still building. The main usage will likely be integrating it together with the Brave browser. That is already in complete swing, but we’ll get to that inside a tiny bit.
Because April 2019, the BAT is often traded for real-world rewards like Amazon, Starbucks, Apple, and Uber. Other potential uses may very well be to spend customers to view advertisements in messenger apps like Telegram. The future capabilities of BAT have a lot potential and look extremely promising, especially since it is nevertheless rather new.
Blockchain Technology in China
Whereas blockchain is often a large deal in China, and projects equivalent to BAT have been began, none of them had been rolled out. In fact, China leads the world in blockchain-related patents, and more than 35,000 blockchain companies are operating in mainland China. In the end of 2019, China even announced that it’s also functioning on its personal cryptocurrency in addition to a digital token.
In China, there is certainly no blockchain-solution just like the BAT to combat ad fraud however. Due to the fact the Middle Kingdom’s number one search engine Baidu is full of advertisements, there’s, actually, the need to launch a solution like the Fundamental Consideration Token there.
How can BAT support against Ad Fraud?
BAT can revolutionize the digital ad space since it is determined by blockchain technology. If you keep in mind from our earlier blog post about Steemit, blockchain technology relies on a public ledger that will not have one single owner. This means that fraudulent activity will probably be practically not possible to conduct due to the fact every single node within the blockchain has to verify and approve every single transaction.
So, how can it aid with ad fraud? A widespread scenario that happens in digital marketing is that a marketing platform, publisher, and advertiser all claim a different quantity of impressions (likely on account of fraudulent activity).
So, which of those 3 has the most precise information? The answer is unclear. Blockchain technology will avoid this challenge because the network will verify just about every transaction.
Considering that China is by far most affected by ad fraud globally, the ought to uncover a solution is pressing. Possibly taking a look at BAT and the Brave Browser can present the spark of inspiration to finally roll out an equivalent solution in the Middle Kingdom.
Introducing the Brave Browser
Everybody has their favourite browser with all the well-known ones being Chrome, Firefox, and even Edge. But envision a new browser that totally blocks advertisements and takes privacy to a entire new which means. Welcome Brave Browser, the free and open-source browser with an ambitious future.
Using a tagline that says, “You are certainly not a product,” the Brave browser has a program for eliminating malware, trackers, and fraud. In accordance with Brendan Eich, this plan rolls out in two stages:
Stage one will be to block ads and trackers and reward sites depending on user interest.
Stage two is usually to move towards decentralized ad exchange and introduce a new currency.
This is exactly where the BAT comes in. You can earn the utility token by providing interest to ad content or something else the customers look at. So, the publishers will obtain ad revenue in the form of tokens, and customers obtain tokens for viewing ads.
However, because of the strict internet censorship, Chinese users nonetheless have issues to download the Brave Browser. They rely on browsers like UC, QQ, and Baidu alternatively.