Cryptocurrencies are getting real and becoming much more acceptable day-by-day.
The world of cryptocurrency and blockchain is gradually permeating into public consciousness.
Ever since the global financial meltdown of 2008, man on the street is getting cautious of these powerful intermediaries like ‘Too-big-too-fail’ banks with entrenched interests and looking for an alternative form of exchanging “value.”
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The Mobile World Congress was being held at Barcelona in Spain from Feb. 26th to Feb. 28th, 2019. Two pioneers in blockchain technologies, Brave Software and TAP Network joined hands at the event to create a decentralized digital advertising platform.
Brave- Faster, Safer and Ad-free Browser
It is high time to say goodbye to annoying Ads and Pop-ups! “Brave” browser allows you to browse up to 3x faster, and block ads or trackers that follow you around and invade your privacy.
Furthermore, Brave rewards users for browsing which is the cherry on the cake! Brave provides security protection while also optimizing data and battery performance.
In the current scenario with browsers like Chrome, users don’t have any control over which ads they are going to see while browsing. Brave allows users to block advertisements, or should you choose to allow advertisements, it rewards you with BAT (Basic Attention Token) an Ethereum-based digital advertising token.
If we analyze the digital advertising space, the GAFA (Google, Amazon, Facebook, and Apple) monopoly is evident. According to reports, Google and Facebook alone receive 73% of revenues every year. The last two hundred years of business history have shown that a monopoly market always stifles innovation and creativity.
The BAT team is trying to break this monopoly by eliminating middlemen and creating a win-win situation for both the users and advertisers.
TAP Network – Welcome to the World of Decentralized Advertising!
The future of advertising is decentralized where consumers will have access to earn rewards for participating in the advertising ecosystem. And TAP is a new advertising model that is trying to bring that change into reality.
It is building a model which keeps the consumer engaged with brands. It helps brands generate more ROI. Consumers only see those brands which they like and want to see more often.
People at the helm of TAP Networks for e.g., Lin Dai categorically states that their mission is “to bring blockchain to the masses.”
The Global Advertising Annual Global market is worth $584 Billion. And it is not fair if all the dollars go into the coffers of two monopoly companies rather than the participants in the ecosystem such as consumers, advertisers, and publishers.
Synergy With Partnerships
These two pioneers of blockchain technology announced a partnership at Mobile World Congress to reward Brave users for their participation in the advertising ecosystem which is hitherto unheard of. It also rewards brands by reaching New Audiences through private ads.
How It Will Help Urbane, Young Consumers?
The gist of the story is that Brave browser users will be able to redeem their BAT tokens. Users can opt-in to view exclusive offers and ads from 250,000 brands partnering with TAP networks.
How It Will Help Top Brands?
Top brands will have an opportunity of ‘Guaranteed Engagement’ with an audience who have willingly opted-in to view the advertisements.
The earned BAT tokens will not stay in the digital world. The users will be able to redeem the same in 200,000 hotels and 50,000 restaurants worldwide for amenities such as Vouchers, Exclusive Entertainment experiences, gift cards from top brands like Amazon, Starbucks, Apple, Uber etc.
Ten years have passed ever since Satoshi Nakamoto published a white-paper on the peer-to-peer, decentralized, and devoid of third-parties electronic cash system.
Cryptocurrency still hasn’t permeated entirely into the world economy. There are many hindrances such as scalability, technical know-how requirements and energy consumption requirements for mining.
But one thing is for sure; this experiment is one little-step towards bringing cryptocurrencies/digital tokens into the mainstream real world.