The purpose of ALX is to use blockchain technology to solve the two fundamental issues that exist in the advertising model today.
For consumers, the main issue of concern is the rampant exploitation of their data. Thanks to the recent Facebook scandal, the general public is now well aware of the surveillance capabilities built into the apps on their phone. And they're not happy about it. However, it can not be stated enough that society-wide data mining has been taking place for decades. It is our vision that it will not continue in the decades to come. Because there's a better way.
For brands, the challenge is finding and securing their ever-elusive audience. Sadly, many companies elect to use data mining methods in their quest for customers' attention. Advertisers spend millions building demographic and psychographic profiles of their audience, informed by browsing habits, location data, and internet activity. They also use this plethora of data to decide when and where to place their ads, which costs them millions as well. Isn't it ironic then, that brands so often miss their target by a long shot?
These are both complex problems. How does Algebraix intend to solve them?
The simple answer, is by mending the relationship between advertisers and consumers.
We will achieve this by empowering users to take part in the marketing process. We will grant individuals true ownership of their data and compensate them in the ALX cryptocurrency for renting it out to advertisers. Each user will finally become the gatekeeper of their personal information. They will also set their own interests and preferences, so that their newsfeed is automatically relevant to them.
If you're getting our drift, you may have already figured out what advertisers stand to gain from the ALX platform: an engaged audience, acquired quickly. There will be no need to waste time and money, frantically searching for the right market segment to interrupt with ads. Instead, companies will make a straightforward offer to potential customers, and only spend money on those who choose to engage.
Hopefully, the ALX model now makes perfect sense to you, as it does to us and the thousands of users already on the app.
Watch the animation above to learn exactly how it works. Join ALX here.