25.02 Questions & Answers Session
We would like to start our series of QnA publications in text format from this article.
Max: So, here are the questions from our community.
What is your view on the development of programmatic advertising and blockchain in 2019 and onward? Other predictions in the whitepaper are still the same, or has anything changed since the token sale?
Artem: What we see right now in the world is that there is even more programmatic advertising than expected, so everything is even more optimistic than it was in our white paper. Now all the big players are introducing at least some elements of programmatic.
Ubex is also using newer protocols. Most other players who use programmatic have older protocols, sometimes of 2012–2014 or previous periods. We are developing the system from scratch, meaning that we can use for example the RTP protocol version 3, not the version 2 that most players have right now.
Plus we’re adding artificial intelligence on the top for proper targeting, meaning that we will definitely have a good advantage over the other players.
Max: What’s the difference between us and Google?
Artem: We don’t want to compare ourselves to Google. We’re different because we are looking at different segments of advertisement. Google goes into the search ads mainly; we’re looking mainly for programmatic ads.
Max: Did data collection for the neural network start just now with the release of data mining feature, or has it been going on for a while already?
The data collection started quite a while ago. From the moment we developed the technology we started to gather data from a set of sites from our partners and our friends.
Max: How will you interest other companies to use Ubex? How are we going to engage other companies to use the project?
Artem: We have two types of partners — data providers and publishers. We are paying 250 Ubex for every thousand new users, and speaking of publishers, we will release blocks for them gradually quite soon. Of course, we keep searching for new partners from these groups.
Max: Will you be able to tell us how many sites have registered so far? If so, do we have any major sites with big traffic?
Artem: It has been two days since the launch of data mining platform. During the weekend when it was launched, we added 17 new publishers. One of the sites is a quite significant German site, a German social network.
Max: How much of the information that is communicated between the agents of the platform will be stored on the blockchain?
Artem: We have different types of data. Certainly not all the data we stored on the blockchain. We are going to store all the transactions there, including info about payments for webmasters. New info is planned to be recorded once every 24 hours. The Ethereum blockchain is OK for this purpose. Other statistics, such as example the type of advertisement, displays or other details is stored on Amazon Web Services with whom we are partnering as well.
Max: When will you update the home page?
We had plans for it, and by now we’ve already launched a new website. We’ve also released a detailed roadmap for this year. In general, we are on time with it.
Will we continue working with LDM?
Artem: We had a talk with the CEO two days before this session, and had one more discussion in a few days after the session. This one of the largest of American agencies for digital advertisements. Additionally, we started to look for similar players, mainly for SSPs and DSPs. These are companies that are providing either traffic or ads the platform. And right now we have started the search for this type of organizations around the world with a focus on Korea, China and Germany as a test number one, and in the future for a wider geography. We hope to introduce the full interface for the interaction with these two types on the platform in April.
If you guys have good connections to SSPs or DSPs providers, please let us know, please send us the name of a person in such an organization or contact us directly either through chat or through firstname.lastname@example.org. To be very frank with you, this is our core target for business development for the next few months.
Max: Once publishers decide to cash out their earned Ubex, how do they go about doing that? Will you buy back their tokens with fiat, or will they each sell them on exchanges?
They will be able to cash out just Ubex on their MEW or any other wallets. They can cash it out in the form of some other crypto like Ethereum or Bitcoin also they will be able to sell them on exchanges, but we are looking for it partners which will help us set up a gateway to help publishers to automatically exchange Ubex for fiat.
Artem: I believe that we need to remind people that we made a decision to accept both crypto and fiat, because fiat is used in most of the advertisement transactions. How will this work? In the beginning we will have the two separate routes that can be used. There will be no exchange between fiat and crypto, so advertisers who are paying in fiat will be paid in fiat, and publishers will be receiving payment in fiat. Advertisers who are paying in crypto will be paid for their ads in crypto.
Also when we are talking about fiat, we are talking mainly about local advertisers and local publishers. Let’s say if an advertiser and publisher live in the same city, and we’re just connecting them. But when advertiser is, for example, in Australia, and the publisher is in Canada they already need much more sophisticated systems like Ubex tokens in order to avoid all these cross-border conversions and complications.
Max: What are the plans for this year?
Artem: The plans have not changed. We will be releasing parts of the program in the coming months. We’ve already released data mining and ad network. Later we will go to their trading desk where advertisers would be able to place their ads and publishers to accept to the ads.
There is no exact release date of the whole product. We will be releasing blocks of the product like we have released the block of data mining. Now the same will be happening in the future with every other single block.
This is helpful for us to get feedback and also to start gaining momentum with the business itself because business also needs to be profitable, and we want it to be profitable from the parts that are released.
Max: Is it true that because of the bear market you hired fewer devs than initially planned, and how has the bear market affected the project and your plan in general?
Artem: Regarding the bear market, I think we had a separate Q&A about it in October or November. Actually, at that moment, it was true when the market went down we had to be very careful and we have slightly changed at that moment of time our plans to cut the costs.
Since then there were no additional cuts. We have never cut the developers so my position was that we have to keep the strategic part of the product which is development. We have cut all the costs that are related to marketing and business development. For this reason you do not see us as often as before on the exhibitions on conferences, on Coinmarketcap, in the media etc. We don’t want to spend money there, as we have a priority on development. We will change this as soon as crypto goes up or when the product is released.
Definitely, after the full product is ready, we will need strong business development and sales and we will be hiring into that positions as well. Again, developers were not affected and with the current growth of crypto that happened during the last two weeks I am actually quite positive and probably would start hiring into business development even earlier as a little planning.
Artem: How do you increase the price of Ubex?
Again, the only way to increase the price of Ubex is to increase the adoption.
When is adoption of Ubex going up?
Exactly at the moment when advertisers and publishers start using more and more ads and are forced to pay and convert using the Ubex token.
Artem: When is it planned plan to start more marketing activities?
As I said just now, we had to cut marketing activities because of the rates of crypto we have to save funds for the development now. As soon as crypto up or the product for advertisers is released, we will go for it. We have the plans to start visiting the exhibitions and conferences on programmatic from April.
What about Coca-Cola Mexico?
Coca-Cola Mexico is continuing the tests. They’re quite slow with it, and this test is not about programmatic, this is a test of neural networks.
Artem: Did you plan to open an office in London?
We were planning to hire developers in London, but we had to move our development office to Moscow because of costs. It’s around one third of the costs in Russia compared to London.
We have a special plan for Asia. Actually, we believe in Asia more than in other part of the world for programmatic ads.
There was a question about Nvidia, which doesn’t want to be associated with blockchain and crypto. That is why they asked not to publish any information related to Nvidia and blockchain. Yes, we continue to work with the systems that they have developed. In this sense nothing has changed, but we cannot talk about Nvidia in relation to blockchain. This is their policy.
We do plan new exchange listings, and we are considering exchanges that will allow the automated exchange between Ubex and the advertisers’ funds. It’s not about the size of an exchange, but more about its technical capabilities.
Probably, Probit is going to introduce a feature to purchase Ubex directly with fiat.
What about IBM?
We’re still in touch. We cannot announce anything right now. The IBM office is located right next to us in other tower, so it’s very nice to meet with them during the lunch break. I believe we will make an announcement about them in the future.
Do you plan to make your own mainnet or stay with the ERC20 token?
Right now, we plan to stay with ERC20, for the next year at least.
If you would like to watch the full video, it is avaliable here.