Blockchain technology took off in 2017 across a wide array of industries. Blockchain’s collaboration-based network has already impacted several industries, generating benefits for all parties involved. The digital advertising industry is next in line, with various startups attempting to use this technology to transform processes currently dominated by middlemen, fraud and a lack of measurability. The inherent benefits of blockchain – security, transparency and accountability – hold great potential for the digital advertising industry, where marketers and publishers have been struggling to combat bot fraud and transparency issues. However, the same benefits also pose a variety of technical, practical and legal barriers.
There's a lot of middlemen in the current digital marketing ecosystem. For every middleman that an advertisement must go through to reach the target audience, there is a slice of the ad budget taken out for each of them. In other words, you’re only able to spend about 50% of an ad budget on the target. The rest is used to pay these middlemen. Unfortunately, exactly how much is not transparent to the advertiser. Not only that, there is rampant fraud within the digital marketing industry due to bots. In 2017 alone, losses due to bot fraud reached $6.5 billion globally.
The use of blockchain will allow for unique identification of individuals, while preserving personal identities, through encryption, thus ensuring no bot fraud. Additionally, by placing ads on the blockchain itself, these ads can be served directly to users, which eliminates the need for middlemen. Finally, by offering a system of compensation through a token valued by a user’s attention, ad blocking should theoretically decrease.
DoGood Media is the world’s first and only integrated media company. Powered by proprietary advertisers marketing technology, DoGood provide publishers with billions of high-quality, incremental advertising opportunities. Founded in 2014, DoGood Media combines multiscreen technology and advanced analytics to drive growth for publishers, performance for advertisers and positive media experiences for consumers. Using a vertically-integrated tech stack, the company reaches consumers across Desktop, Mobile, Connected and Linear TV.
Recently, DoGood Media teams up with fellow Digital Advertising leader plan to tackle scalability, transparency and privacy issues existing in ads technology ecosystem. The company is leading the charge in rethinking the through the lens of blockchain technology, with the creation of the OPTin Advertising Network and the OPTin token.
The OPTin Network is a blockchain-based marketing research platform. It is uniquely positioned to solve advertising's problems. Using DoGood Media’s network of users and publishers, the OPTin solution has immediate traction and great chance of success. The OPTin Network is comprised of three main blockchain-based components:
MyAds: Allows users to opt-in to specific brands, industries, and earn rewards for sharing their data with advertisers.
DataCube: Open source marketing research project to create highly-predictive connections between user viewing and buying.
Ads Marketplace: Ad platform to directly connect advertisers to publishers, using the DataCube + Machine Learning to create the highest ROI for advertisers.
In order to solve current advertising's problems, OPTin Network provides 5 pillar approaches:
User Control: Give users the right to opt-in to specific industries, and only share data they are comfortable sharing
Transparency: Data transfers and money transfers should be openly viewable
Free Unbiased Data: Give advertisers the ability to choose the appropriate media outlets, without paying hefty upfronts
Community Oversight: Data collection and sharing should use open-source auditable code
Compensation: Compensate users for their time and trust
OPTin Coins is powering the OPTin Network. OPTin Coin aimed to used as reward coin for authentic supporters on the network. OPTin Coin enhances the advertising "opt-in" process by strengthening the relationship between consumers and advertisers. Both parties benefit from having smooth transactions through verifiable data and user profiling on a secure platform. As a result, OPTin Coin ensures that each transaction is fast, easy, and safe to use.
A total of 430 million OPTin tokens will be issued on the Ethereum blockchain using a smart contract. OPTin will comply with the ERC-20 standard and will be freely transferable on the Ethereum platform. OPTin tokens do not indicate ownership of a company, OPTin will not pay dividends, and OPTin holders will not earn any direct interest.
For More about OPTin Network:
Website:- https://www.optincoin.org/
Whitepaper:- https://drive.google.com/file/d/18xfJMgdcdrrWcN8aq8OiRVnD80Ug8_MR/view
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