South Korean Intellectual Property Office Grants Full Patent Approval to Proof of View by Verasity
Verasity, an open-ledger ecosystem designed to prevent advertising fraud through the VeraViews adstack, announced today that it has received full patent approval in South Korea for its Proof of View (PoV) module.
Verasity’s PoV technology ensures that content and advertisements viewed via content players with a PoV integration, such as the Brightcove Web player, are served to real viewers — verifiable on-chain and recorded immutably through Verasity’s purpose-built distributed ledger technology. Proof of View empowers advertisers to prevent ad spend being lost to bots and fake viewers, and enables publishers to get paid faster for served ads through transparent viewership metrics.
Proof of View is also a vital component of the VeraViews adstack, an open ledger advertising ecosystem offering transparent fraud prevention for publishers, and auditable campaign statistics for brands.
The patent, entitled ‘System and Method for Proof of View via Blockchain’, extends Proof of View’s patent protection in East Asia, with patent application in Hong Kong and China already approved — in addition to Verasity’s patents for PoV in the U.S.A and Eurasia. As a prerequisite for commercial rollout, patent protection is an important milestone in technology adoption for PoV and the solutions it powers.
R J Mark, Founder & CEO at Verasity, says:
“As Proof of View begins to see increased deployment through the adoption of the VeraViews adstack, it is important that we protect PoV and our intellectual property in new jurisdictions where it’s likely we will pursue business opportunities. South Korea is a hugely significant advertising industry, with an $8bn advertising market opportunity — making it an important jurisdiction to be granted full patent approval.”
Following an announcement in late September where it was revealed Proof of View had passed an initial patent application, the Korean Intellectual Property Office has now granted full approval to Verasity for its PoV module. The approval comes just weeks after VeraViews was approved as an Amazon Ads Partner, and the Verasity team announced the expansion of its business development team.
The patent application can be viewed here, with full patent approval documentation in Korean and English also available. The patent will now be transferred to Verasity in full, where it will be used to pursue commercial opportunities with full patent protection in the South Korean advertising market.
About Verasity — Verasity is an open-ledger ecosystem designed to fight advertising fraud, provide open access to infrastructure for publishers and advertisers, and reward users for watching video content. With product verticals in the advertising, eSports, and video player industries, Verasity ties together its ecosystem with its patented ‘Proof of View’ blockchain-based technology. The $VRA token, which is used for funding advertising campaigns, staking through VeraWallet, and distributing Watch & Earn rewards, is central to the Verasity ecosystem as a single utility token with a whole host of applications. Learn more about Verasity at www.verasity.io.
About VeraViews — VeraViews is an open ledger advertising ecosystem built around Verasity’s patented ‘Proof of View’ (PoV) fraud identification technology. With transparent invalid traffic (IVT) tracking for publishers, and auditable campaign statistics for brands, VeraViews is the most powerful and auditable solution for preventing ad fraud. With VeraViews, ads are seen by real people, resulting in a higher campaign ROI% for advertisers and faster payment times for publishers. Never lose money to ad fraud again. Now integrated with Brightcove. Learn more at www.veraviews.com.
