In one of my previous articles I described what problems Thrive labs aims to solve, the team behind it and their crowdsale.
Now, I will explain some details about how the platform will work and what will be its benefits.
Since the team aims to develop first truly meritocratic and community based advertising market place, the only possible way to achieve that is with blockchain and smart contracts. Unlike many other cryptocurrency projects, that will be based on an already overstretched ethereum blockchain, Thrive team will develop its own Proof of stake blockchain, specially suited for the needs of the projects.
Blockchain will enable cheap microtransactions on the Thrive blockchain, lowering fees to between 7% and 10%, compared to current competitor's fee ranges (32%-49%). That means cheaper adds for advertiser and more money for publishers. Even better, some money (in the form of THRT tokens) will go to the user willing to share their data created on the internet. The data now Google gets for free and sells it to other corporations. Data will be made anonymous, because advertisers don't need to know the personal information, just how good are their adds. The fact that blockchains are non-editable will help with user protection.
Microtransactions will also enable almost instant payments to the publishers, who now have to wait long period of times, before they get paid for their work. If they even get paid and aren't banned for unknown reasons.
Using blockchain also means, that the platform will be decentralized, giving all the publishers equal rights. That way, publishers will be better graded just based on their performance and not because they had a head start with better access.
Smartcontracts will connect publishers with advertiser, cutting out any other third party. Doing that, no money will be used for additional fees. Also, every smartcontract will be visible on the blockchain, making the whole business fully transparent.
User data will be collected and monetized with the help of browser extension and a mobile browser. Users will receive around 1,5 EUR/GB while navigating the internet. Mobile browser will also enable data collection on mobile devices. Browser will store anonymous data about user behavior and will then transfer it to Thrive Labs using asynchronous calls in JavaScript (Ajax, RPC).
One of the biggest problems facing advertisers now is hem not knowing in which format and where will their adds appear. That can lead to damage of their brand, nullifying all the money spent for adds. Right now, no platform exists, that would give companies premium placements of their adds. Moreover, advertisers will be able to see which publishers have a better track record, helping them decide.
Thrive Labs team is trying to establish a "holly grail" in advertisement. Despite this hard to reach goal, I believe that with the help of advisors and the blockchain technology, the team is very likely to succeed in their "quest". For more information, visit their website, like them on Facebook, join their Telegramgroup and follow their Twitter and other social media platforms like LinkedIn, GitHub and Medium.
