Did you know that Facebook and Google control 65% of the digital advertising market?
With all that clout, advertisers are at their mercy. So it’s no surprise they’re fed up with the two behemoths.
adChain believes they have the answer. It’s an open protocol on the public Ethereum blockchain that allows for the building of decentralized applications for the $175 billion digital advertising industry. That’s a big opportunity.
adChain is project of MetaX and ConsenSys. They see three main problems in the digital advertising space:
- There is a lack of transparency in the digital advertising supply chain
- The current payout structure encourages fraud
- Facebook and Google have an effective duopoly.
adChain aims to have the same kind of vertical stack in advertising like Facebook or Google but in a decentralized and open way.
They are starting with the adChain Registry. It’s a smart contract on the Ethereum blockchain, which keeps a cryptographically secure record of publisher domain names. That provides two benefits. It’s an identity mechanism and a rich source of premium publisher domains.
It also incentivizes against paying per impressions. adToken holders have only one goal, to vote in reputable publishers and vote out fraudulent ones.
The native asset of the adChain protocol is the adToken. You can read up on how the tokens work here.
The token sale starts June 26.
I’m not sure if I’ll participate in this one as I’ve had no luck in recent Ethereum ICOs. Even Civic, which was supposed to be the fairest of them all. Still, I think advertising is a great space for the blockchain.
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