Lets look at the marketing and advertising industry. People associate it with big money and fame. Big budget campaigns and having the power of selling products to the masses and turning the mundane to something extra ordinary.
After all we are talking about the $563 Billion industry but wait it has a dirty underbelly . An ad fraud that is going on since god knows when and is constantly burning a hole in the pockets of advertisers.
So what is this problem that ails the advertising industry?
The Problem is ad fraud
This is like a superbug that despite all the advancements in the advertising and marketing industry eats into its profits.
So how big is this problem?
Lets look at the size of the marketing and advertising supply chain it is huge at an annual size of $563 billion out of this $16 billion is lost due to ad frauds.
So how and why do these ad frauds happen?
Let me explain it with the help of my own example as
A Use Case.
I have a flower shop and to advertise my flower business I seek publishers who would put the banner of my business on their website.
I offer them incentive of commissions for putting my banner on their website. So if someone clicks on my banners it takes him to my online store and they can place an order for a bouquet. For putting my banner on their website I give the publisher a part of the sale that generates from their website as commission.
A software cookie is used to track the sale and it tells me about the site and his owner so that I can pay him the affiliate commission. This is an industry wide standard practice. So far so good.
Most publishers are honest but like all businesses there are a few bad eggs in the basket who would indulge in unethical practices like they would use a software to inject cookies into unsuspecting end user browsers.
As a result they may not be clicking on my banner on their site and instead may be coming directly to my website but the software would show their cookie that is a way to track the origin of that sale thus it would wrongly appear that the sale is originated from their website and I would end up paying a commission without them actually having earned it.
This is only one of the many frauds possible.
Advertisers use different payment and incentive models for publishers these are based on pay per view PPV where a publisher gets paid by the number of views the banner generates.
Other involve getting paid by the number of clicks generated on a banner this is called the pay per click advertising model and it is possible to manipulate these methods as well.
Another popular model that gets exploited is the pay per lead model where a publisher is paid according to the number of leads he generates. Since the payment per lead is good some publishers create false leads and thus damage the
interest of the advertiser. As a result of all these malpractices that are going on in the industry there is a $16 billion annual loss with amounts to 20% of the total money in the advertising supply chain. This sure does sets the alarm bells
ringing but the fact remains that there are too many people and agencies involved in the process of getting the ad reach out from the advertiser to the final consumer and keeping tab on all the players involved is not possible under the current system.
With the arrival of ClearCoin all this could change for good
ClearCoin is decentralized blockchain based marketplace for advertisers and publishers to conduct business in a transparent and efficient way. It brings all those involved in taking the advertising message from the advertiser
to all those in between responsible for carrying the ad upto the end user on a common software platform.
The use of a common currency called ClearCoin (CLR) tokens as money to condut business. This woud ensure parity
and easy of managing the business.
The blockchain distributed ledger will ensured transparency by tracking the actions and performance of each party involved.
So there will be no loss of revenue due to fraudulent activity undertaken by any involved party. Those who try to trick the system can be easily identified and blacklisted from the system.
All the campaigns can be managed either via a mobile app or desktop you the campaign progress is always under your watchful eyes.
This system would not only help the ailing advertising industry treat itself from this disease that is making it hollow but it also would help the advertisers and publishers work more efficiently.
The end result would be a more transparent and efficient system of executing advertising campaigns and conduct business at a reduced cost.
Currently the ICO for the ClearCoin tokens is underway and is been marked as
track rating of 5.0
Another think that I would like to share is that a number of cryptocurrencies are accepted as mode of payment and steem and SBD (steem dollars) are one of them.So sending out payments from your steem wallet to participate in this ICO would be a first of sorts for those who wish to apply.
Those interested in this project and the ICO can study the prospects in greater detail by following the links below
ClearCoin Website
ClearCoin WhitePaper
ClearCoin YouTube
ClearCoin BitcoinTalk Forum
ClearCoin Medium
ClearCoin LinkedIn
ClearCoin Facebook
ClearCoin Twitter
ClearCoin Instagram
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