In 2018, there is no escaping advertisements. You can run, but you can’t hide. There are ads on television, on the radio, in print, on billboards, and just about anywhere else that has blank space available to the highest bidder. None of these have as much impact on our day to day lives compared to digital advertising. It is tough to find a popular website that doesn’t have pop up windows when you load, ads along the sides of the page, and clickbait articles at the bottom. Your email is full of spam from mailing lists. Social media sites chalk full of targeted advertising based on the pages you view. All of these methods of digital advertising are used as a way of collecting your personal data, so advertisers can better understand how to get you to buy their products.
Personal data is any information about you that you leave on the internet. It’s your digital footprint and can range anywhere from your name and age to your purchasing history and site preferences. Some data collection may seem harmless on the surface. So what if advertisers know your name or your favorite color? It is estimated that every internet user’s data is worth $89 a year and each American’s data is worth about $287 per year. By 2021, it is estimated that the digital marketing budget will be 50% of all advertisements. Digital marketing agencies are making money hand over fist based on this information without compensating individuals for the acquisition of their data.
Algebraix is an Austin, Texas, USA based company that has been around for about eight years. They have identified issues with advertisers and the relationship of distrust between advertisers and individuals. Algebraix’s goal is to create and operate a platform where users control what data advertisers can see and what they can’t. The user would be incentivized to share the data and be compensated for what they do offer advertisers.
From reading the Algebraix white paper, the main component of this project is the Personal Secure Vault, or PSV. The PSV will allow users to enter personal data into the Algebraix platform, but nobody except the holder of the private key will have access to it. the user can then choose what to do with that data. If the user choose to share it, they will be compensated by the advertisers in the form of ALX tokens.
ALX tokens are an ERC20 compliant token. Users will be able to earn and spend ALX within the platform to receive goods and services. The total supply all ALX is 100 billion tokens. Initial ALX tokens will be distributed in three main ways:
1) SAFT sale for accredited investors. 25 billion tokens are available through the process and include a discount from the application launch price. Accredited investors typically have a large amount of capital, so this isn’t a traditional ICO that you’ll see in the crypto space.
2) Mobile application beta testing. More users can get involved with this campaigns compared to the SAFT sale. The mobile app beta test is available on both iOS and Android. Unfortunatey, iOS is only available to US residents at this time. The beta is currently in phase 2 and users get to keep the ALX they earn for viewing content. Videos are regularly updated, so more ALX is available if you check back frequently.
3. BitcoinTalk Ambassador campaign. Users can get involved in the BCT Ambassador program in a number of ways that involve spreading the word about Algebraix to others. A whopping 500 million ALX are available through this program and you can be a part of it!
In addition to what’s written here, it’s important to do your own research and understand why Algebraix has people excited. Join us on the following platforms:
As proof of authorship, my BCT profile is linked.
Thank you for reading! I hope you enjoyed this brief overview of Algebraix and ALX.
