Certainly the modern advertising space is in need of an upgrade, as it hasn't changed in many years and didn't evolve in a meaningful way despite the introduction of many digital tools. The industry has come to a realization that all the parties involved are dissatisfied with certain aspects of advertising:
Consumers' privacy is in constant danger, and yet they are still bombarded with irrelevant advertisements.
Advertisers are having a hard time finding genuine data to process, losing access to certain outlets due to misguided advertising strategies.
Publishers who are genuine are under constant pressure, because publishers with copied or fake data can give advertisers a better offer.
It seems that these problems are too complex and numerous to deal with all at once, and yet the introduction of blockchain has sparked an idea in many developers' heads. A core issue has been identified - the lack of transparency and proper data verification methods, which in theory could be solved by blockchain.
There is a project that has made quite a lot of noise recently, as their developments have advanced from theory to practice. NOIZ, a multinational team of top marketing industry and software experts, have created the Proof of Engagement concept to counteract deception and a blockchain based ecosystem where every contributor is held accountable.
Let's take a closer look at how NOIZ Chain works. The idea is that the ecosystem will be regulated by the community through a decentralized ad server.
ARTIFICIAL INTELLIGENCE
The Proof of Engagement technology will be facilitated by NIKOLA, an artificial intelligence with the ability to hold conversation with consumers, via chat or voice messaging. Consumer responses to ads and their feedback will be recorded and analyzed in order to increase the conversion rates of advertisements issued in the future. This system will also be used to reward consumers for their data with NOIZ tokens in accordance with their level of engagement.
The advertisers will be able to program NIKOLA to an extent, picking the most appropriate objective, such as:
- Lead Generation Dialogue
- Customer Service Dialogue
- Brand Engagement
- Campaign Promotion
- Event/Sign-up/Subscription Engagement
- e-Commerce
- O2O traffic
- Surveys
- Gamification
And more.
FRAUD PREVENTION
NOIZ Chain will utilize Run-time Execution Monitoring to identify bots and other malicious behavior. In conjunction with passive monitoring and algorithms comparing user's activity, the system should be rid of any faked data.
To keep the data on the blockchain and at the same time let only authorized people access it, NOIZ Chain is using a permissioned blockchain. This way, only parties that are involved in a transaction will be able to receive the data and only when all the conditions are met.
THE NOIZ TOKEN
A NOIZ token was created to power the ecosystem, so every campaign or smart contract between users will use this token. Advertisers will need NOIZ tokens to fund ad creation within the AI and promote their ads. Publishers will receive NOIZ tokens for offering their advertising space and consumers are rewarded for their data contributions.
Since all the transactions on the platform are transparent and secure thanks to blockchain and NOIZ tokens, the problem of untrustworthy publishers and fake data will be solved, as every party will have to care deeply about their reputation on the platform.
Other features of NOIZ Chain include a NOIZ ERC20 wallet, ad exchange platform and other infrastructure required for a smooth operation between consumers, advertisers and publishers.
All in all, NOIZ will enable advertisers to spend their money with an unprecedented efficiency, and empower individual consumers at the same time. It is a win-win situation, so it is easy to see how NOIZ Chain can gain popularity quickly. The back-end technology is well-thought-out and ready to disrupt the industry once and for all, please check out the whitepaper to see for yourself.
For more information about the token sale, bounty campaign, or NOIZ overall please check out the links below. Or if you would like to talk to someone on the team directly, you can always ask a question in their official telegram t.me/noizchainenglish.
What do you think about giving the power to consumers where advertising is concerned? How often do you see ads that are irrelevant to you? Tell me in the comments below.
Author's bitcointalk: OceanWind33