Over the last few years, have you felt like your phone is listening to you? Every search you make is advertised to you on websites across the web? This is what targeted advertising can accomplish. It is an intrusive method of advertising that tracks your activity on the web. It puts your data at risk, by storing all your likes, dislikes, and personal information. It is also very ineffective, with most people tuning out as soon as the ads start playing.
Enter Basic Attention Token(BAT), a revolutionary approach to advertising that addresses the shortcomings of traditional advertising. Using blockchain technology, Basic Attention Token creates a more efficient and transparent system for buying and selling advertising space. This system reduces battery and internet usage while working faster than today’s advertising.
Why is Advertising in Need of Change?
There is no doubt that targeted advertising can be effective, reaching consumers with personalised messages that are relevant to their interests and needs. However, there are also some potential drawbacks to this type of marketing.
One of the main concerns is that targeted ads can be used to manipulate people’s emotions and opinions. For example, ads that target people who are feeling insecure or vulnerable could potentially exploit those feelings to sell products or services.
Additionally, targeted ads can invade people’s privacy by collecting personal data. This data is used to create detailed profiles of individuals. This information could then be used to influence people’s choices in a way that is not transparent or fair. It also leads to slower web pages, higher battery consumption, and more internet usage.
Finally, there is the issue of middlemen. Data aggregators, resellers, and others add no value to the advertising space but make money off your data. This makes advertising bloated. It also takes away from the main stakeholders, consumers, and advertisers.
What is Basic Attention Token (BAT)?
The Ethereum blockchain serves as the foundation for the decentralised, open-source Basic Attention Token (BAT) digital advertising ecosystem. The project addresses the issues of online advertising, such as data security, data ownership, and consumer benefit. It seeks to create a new system that is free of fraud, transparent, and fair. BAT is designed to allow advertisers to directly target users with ads, who are then compensated for their attention with BAT tokens. The tokens can be used to access premium content or to support content creators.
Unlike traditional advertising systems, which rely on personal data to target ads, BAT uses a blockchain-based system that allows users to opt into anonymous ad targeting. This means that users can choose to see ads that are relevant to them, without having their personal data shared with advertisers. As a result, BAT offers a more private and efficient way to target ads.
Read About: What Is Blockchain Layer?
How Does BAT Work?
The Basic Attention Token is based on the Ethereum blockchain. The team behind it has partnered with the Brave browser to implement their new form of advertising. Brave has implemented a Basic Attention Metric (BAM) system that can measure a user’s attention. It maintains an anonymised ledger of transactions, through which it can distribute payments.
This ledger system will be used by BAT to verify all transactions. Users on the Brave browser will be able to opt into the new advertising system. This would allow them to earn rewards for the ads they watch. Using the basic attention metric, the value of the reward will be decided.
Since the payments made are in the form of tokens, there are a lot of possibilities for seamless use. The first is using them as donations for content creators and other publishers. This could extend to providing premium content for users that donate. These tokens can also be used to buy digital goods on the Brave platform, such as data services.
Why is BAT Important?
As anyone who’s ever been subjected to a two-minute ad break knows, traditional advertising is far from perfect. Not only is it intrusive and often unwelcome, but it can also have the opposite of the intended effect.
This is where the contributions of the Basic Attention Token become apparent. BAT can change the way users view advertisements. Each ad becomes a chance to earn more. Since the payment increases with attention, users are more likely to watch ads attentively. Users can tune ads to their interests, so they can watch what they like.
Read About: Do Your Own Research, with BAT
Advertisers also stand to gain from a more attentive audience. Users who are interested in the product are the only ones who see the ads. Thus, users are more likely to buy from a given advertiser.
The platform is lightweight and saves internet bandwidth and battery. It has a low barrier of entry and is highly scalable. Finally, there is perfect user privacy.
In case you are wondering, is BAT a good investment? The answer is yes, Basic Attention Token covers every pain point in the current bloated system of advertisements. It shows promise and can bring about a more user-friendly experience. As the platform expands in scope, so does the BAT token market cap and it becomes clear advertising will never be the same.
If you are wondering where to buy a BAT token? It is available at the ZebPay platform.