Blockchain Project DATx And Its Plan to Disrupt The Advertising Industry
The blockchain has the ability to cut out the middleman within platforms due to its decentralized nature. For advertisers or authors, this would mean to distribute their content straight to the desired user without the need for a third party platform (google ads, facebook etc) that usually take a good amount of fees. Ad fraud has been
The blockchain has the ability to cut out the middleman within platforms due to its decentralized nature. For advertisers or authors, this would mean to distribute their content straight to the desired user without the need for a third party platform (google ads, facebook etc) that usually take a good amount of fees. Ad fraud has been one of the biggest issues in the industry according to some data, marketers do not receive an accurate ROI of their ads.
- Marketers lost $7.2 billion to digital ad fraud in 2016 (WhiteOps, 2016)
- For every $3 spent on digital ads, fraud takes $1 (Adage.com, 2015)
The problem is getting worse, so projects like Basic Attention Token and DATx are coming up with a solution via the blockchain to solve such issues.
DATx (currently trading on HADAX and HitBTC) is a new blockchain, that is in collaboration with the QTUM Foundation and Avazu (a leading advertising platform with global coverage). Their goal is to build a win-win revolutionary decentralized advertising ecosystem so that all users can actively participate in the ecosystem built. Users will be able to “own” their data and the artificially intelligent system will decide which advertisers fit in the sphere to market straight to the user.
Their combination of AI, big data, and blockchain technology will help advertisers cut through all the fragmented clutter of user behavioral data to accurately target users and by delivering advertisements that are meaningful to them. Long are the days that users have to skip through clustered and unwanted ads to check content they like. The use of smart contracts will securitize the privacy of transactions and information transacted via the platform thus keeping your data safe away from third-party vendors and thieves.
Datx was founded by the Cosima foundation, a well established and legally compliant Accounting and Corporate Regulatory Authority (ACRA) company in Singapore. Part of their advisory team is the Qtum foundation that has given Datx good trust to pursue their project within the blockchain spectrum.
2018 will be a year to focus on the development of the product. They have plans to establish a user-oriented decentralized behavior archive as the data foundation for advertising eco-DMP and develop an anti-fraud system based on user behavioral data for ecosystem antifragility by Q2 of 2018. The platform will be ready for advertisers by 2020.
The team is working hard to communicate their solution of disrupting content & advertisement block by block to the world by attending the upcoming a Blockchain Festival held in Vietnam May 24th and 25th. Other projects with similar solutions that will speak in the same panel as Datx are UUNIO, BigBom Eco, and AirBloc.
What has been the most developed blockchain advertising project you have seen?
Disclaimer- this is in no way promoting the project above, this is an informational article covering blockchain/advertising projects. Please do your own research and due diligence before investing in cryptocurrencies due to their volatile nature.
Originally published at ebitnews.com on May 16, 2018.