According to Mary Meeker 2017 annual report，the global internet advertising market exceeded 1 trillion Chinese Yuan in 2016. The global advertising revenue of Google and Facebook were 525 billion Yuan and 178 billion Yuan separately, the total of them amounted to 700 billion Yuan. However, the transparency of the advertising industry is very low, the characters in every link do not trust each other.Whether the data is true, whether the advertising estimates are meaningful or not, all these problems above are the pain points for the industry.
Based on the data transparent and none-tampered characteristics of blockchain technology, the digital advertising industry can re-establish the consensus mechanism to help multiple parties to reduce costs and improve their marketing effectiveness. This allows the ProChain team to turn their attention to the ‘blockchain + digital advertising’ industry, hoping to build a disruptive advertising ecosystem.
As early as 2012, the ProChain team began to use bitcoin and blockchain technology and became interested in them. The team has both industrial and academic backgrounds such as Tencent, Tsinghua University, and Chinese Academy of Sciences, they started to explore the blockchain technology, and they believed that Internet value network will be changed by blockchain technology.
Compared with others, ProChain team, a technical-oriented team, thought more about the problem that blockchain technology will be applied to which specific industries in the future.Based on the complementary advantages of the team members, the trust established by years of cooperation, and the gradual maturity of blockchain technology, members of ProChain have finally chosen the path of entrepreneurship, using blockchain technology to promote the new ecology of the digital advertising industry.Golden finance has invited ProChain team in an exclusive interview, the following is the content of the interview.
competing with Giants for the blue Ocean Industry, expanding its territory to the small-amount low-frequency advertising.
Last month, the news exposed by foreign media, that the pirate bay website to join the digital currency mining script in the web page, hoping to get rid of advertising pages has prompted a lot of thinking among the industry. On the surface, Pirate Bay is looking for shortcuts for users to create an advertising-free model, but in fact, it is actually embezzling the calculating power of its users.
“the biggest problem with this model is that the advertising industry ecosystem is not fundamentally changed, and the customers who are the web traffic drivers of the website have no benefit. Moreover, under the condition that the customers are uninformed, the computer is implanted into the script, which means the leakage of privacy, and this action is not essentially different from making viruses invading others’ accounts to some extent.
Although the behavior of the Pirate Bay on advertising is entirely new, it is not reasonable. The main direction of blockchain technology is to hope that more people can participate in it, enjoy it, and ultimately achieve value transfer, rather than being monopolized by a person or a certain area.” said the ProChain team.
Another typical example is Baidu content creators platform ‘Baidu Bai Jia’. As we all know, Baidu Bai Jia provides many realizable mechanisms for content creators, such as advertising segmentation, native advertising, user appreciation and so on, but Bai Jia is essentially helping the Baidu Content to realize its market value by advertising.
“First, there is a problem of data fragmentation between these platforms；Secondly, these platforms are centralization mechanism based doing none very stable work. The act of extracting interest from the platforms makes the media play the role of technical intermediary. However, as an application based on Ethereum blockchain network, ProChain hopes that all users can benefit from the development of the whole ecosystem without charging intermediary fees.DAPP and other distributed media will display advertisements. Users will be able to become readers of these advertisements, and they can get profits, and gradually establish their own digital marketing archives in the ProChain ecosystem.” ProChain will look for low frequency, high – guest univalent advertising as a cooperator at first.and take the education, finance and other industries as a starting point for the business. When the chain technology is more mature in the future, ProChain will also extend territory on the field of small high-frequency advertising. “Investment without a business environment is idealistic”, at present, with so many blockchain teams talking about technology, ProChain is down to earth, focusing on docking with more of the digital advertising industry scene.
Although the domestic Internet giants are preoccupied with the ‘blue market’ of blockchain, for example, Baidu finance has joined Hyperledger open source project, JD (JD.com) set up “blockchain anti-counterfeit traceability open platform” and so on, With the Increasing competitiveness of the industry, ProChain is not afraid of the challenges brought by the giants. And based on its own strength and unique perspective, ProChain has got a place in this increasingly competitive industry.
“We are different from big companies like Baidu and JD.com. They mainly do blockchain + e-commerce and related applications. They want to use blockchain technology to serve their original ecology. But we want to rebuild an ecology and serve the other products on the basis of this ecology;The construction of block chain technology in large companies is to solve internal problems, but it is restricted by business limitations; But we operate from the block chain community level, and focus on the community strength to carry out the construction of the platform and the ecological evolution; What the giants do is to use the existing mature business plus block chain, but we are doing block chain plus, which is based on block chain technology to serve the ecosystem and provide services for all products in the chain. “The ProChain team said,
Working together with B-side customers, the ProChain will promote C-side market and push for maximizing its PRO token value
There are many pain points in the digital advertising industry, including what called data islands, intermediaries, traffic fraud, settlement delay, user hate and so on. Based on this, ProChain puts forward four solutions. First, create an accurate big data marketing platform based on Ethereum, second, to provide an accurate delivery platform for advertisers, set target users, and rules, use PRO and creates an extension task based on intelligent contracts. Third, the user’s blockchain address and personal metadata are bound by the token reward mechanism. Finally, the SDK is provided for the main traffic, after the user consumes the advertisement, the PRO token is shared with supply-side platform (SSP) as an income.
Consumers also think the advertising industry has the problem of “advertising content fraud”, and ProChain also put forward the corresponding countermeasures: The user will decide whether the advertisement has a utility fraud or not through the way of voting using PRO tokens credit, fraudulent advertisers will bear the risk of payment for violation that is token budget will be cleared.Theoretically, users who own more tokens will be more likely to affect the advertising weight. But in fact, a large number of token-holding users can make a person’s influence on advertising weight neglected. Such ideas will also promote the development of the platform towards idealism and democratization.
In addition, in an advertising network with value transfer mechanism, it is easy to cause a problem of “advertising consumer fraud”, ProChain created a unique POSt mechanism, which greatly raised the cost of wool for the “wool party”, Users with tokens can get digital ads with rewards (Time multiplied by the final amount of tokens is the user’s voting weight), but only those users who meet the threshold of the specified time can finally get tokens, after users consume Ads, the accumulated coins, days weight will rest to Zero. The strict reward mechanism will be a good way to avoid advertising consumption fraud, and the gradual establishment of digital marketing files will make the advertising marketing more accurate and effective.
In the eyes of many blockchain projects, the token is often just an interesting gimmick or money trap, but in the eyes of many investors, tokens are only a tool for speculation and will not really be used in community ecology. Compared with other blockchain projects, PRO token is a highly functional tool token. It has many functions such as voting, settlement, marketing records and so on. It is the blood flowing in the whole ProChain ecosystem. In the future, ProChain will work together with the small and medium B customers to promote the C end market and improve the digital advertising ecology of the blockchain, and share the maximum value of the PRO token.
ProChain project’s closed loop has basically completed, disruptive innovation should not push higher learning and use costs
Drawing on the experience of the traditional advertising industry, ProChain chooses advertising terminal, traffic terminal, media distribution terminal and data analysis terminal as product architecture. ProChain hold that, since in the advertising industry, it is necessary to have links with the product structure of traditional advertising industry, in addition, every disruptive innovation cannot be built based on raising the learning and using costs of other enterprises and users, so the use of traditional industry patterns will make the blockchain + advertising model more acceptable.
It can be said that as long as there is a blockchain technology, there will be a discussion and doubt about the security of personal information. ProChain wants to bind the blockchain identity of ad users with personal metadata, and improve the personal digital marketing files on the blockchain. “The stronger security is also one of our advantages. Block-structured database on the chain is small. In the commercial early, We will operate the identity authentication under the chain, In the future process of gradual migration of data to the chain, the platform will solicit the user’s authorization. After authorization, it will use information and encrypt and desensitization, Business activities are established under the condition that the user’s private information is absolutely safe and controllable.” explained The ProChain team.
The technical field of digital advertising + blockchain is facing many challenges, such as how to improve the precision of delivery and reduce the cost of fraud effectively at the same time, which is not only the problem digital advertising industry especially the advertisers are concerned about but also one of the core competitiveness to be focused on by ProChain project. “how to combine among the big data, the artificial intelligence, and the blockchain technology is the challenge that the project faces. Big data technology promotes the precise advertising, the core of attention is whether advertising can match people; artificial intelligence is the aggregation ability of algorithm, data, and computing, this project is to build digital precious advertising model, and good results will be achieved after repeated iterations and grinding. Moreover, blockchain technology and digital advertising industry have a natural fit, it can naturally solve the problems of fraud, decentralization and business settlement; with the combination of these technologies, ProChain is expected to build a healthy and stable digital advertising service.” Said the ProChain team.
At the end of this interview, the closed loop of ProChain project has basically been completed, and it is accelerating forward in the direction of getting more digital advertising parties involved in and meeting the diversified needs of the users
ProChain’s ambition is to build China’s largest block chain digital advertising service ecosystem
In the next two years, the technology of public chain, cross-link, side chain and other technologies will mature, and the media will also benefit from it. ProChain will help these Medias to maximize their revenue by embedding SDK. Although there are many competitors abroad in this area, ProChain has favorable climatic, geographical and human conditions interiorly, namely, the country is to encourage technology development about blockchain, the team has accumulated abundant land and technical resources in previous entrepreneurial experience and the team members have a high degree of trust and agreement.
At the end of the exclusive interview, the ProChain team indicated that it will be presented to more investors in the future through various forms of propaganda. Golden Finance will become an important channel for project promotion. In addition, the ProChain team will continue to provide the best quality service for the partners and will be the leader in the blockchain + advertising industry by winning a better reputation. “The customer is always the best propagandist”. Speaking of facts is the king of business competition. The team will go further on the international route, promote the digital advertising business that covers the whole world and expand the overseas market based on China’s advantages. The transnational settlement scheme with its own business will also solve the pain point of global advertising.
The vigorous development of blockchain technology is promoting the new Internet revolution. Digital advertising, as an industry that will be deeply influenced and transformed, is full of huge opportunities and imagination. As a pioneer of this area, ProChain team, by integrating the blockchain technology and business scene closely, is preparing to capture digital advertising market of next generation in advance. In the future, ProChain team will be devoted to blockchain + advertising field. “Blockchain” is not only a set of the technical proposal but a way of thinking, a concept of values, a rule of social industry construction.
With the mission of building intelligent, efficient, democratic and transparent digital advertising ecosystem.ProChain will continue to promote the practice of blockchain technology in the digital advertising industry, establish the ProChain brand and influence, enhance China’s competitiveness in the industry chain of the digital block on the global scale. they also hope that more people could join the team to open a new world of blockchain technology in the digital advertising industry.