Advertising has grown from being a one-way system controlled by major publishers to becoming a multi-spoke wheel that rewards collaboration among all participants.
The trick is to empower all involved, enabling to easily control their participation for the maximum possible positive impact. That is where Kind Ads steps in with its innovative Token-based advertising system and Blockchain approach.
How Does the Kind Ad Token Differ from Traditional Advertising?
Traditional online advertising operates most effectively when there is an information asymmetry between the advertisement network and the ad producer. The network has access to end-user information, collected through a variety of methods that are at best unethical, at worst bordering on illegal in many jurisdictions worldwide.
The token is available to all and includes information freely available through the blockchain. This means that once something is available, all can see it without reservation. It also enables a value to be placed on the information itself, leading to end-users being able to profit from their own information rather than just give it away for free.
Start: The Reward Pool
The Token Flow starts with a free reward pool, which enables all users to obtain an initial allotment of coins for free. Users opt-in to the system and provide information associated with the token. When they visit a site, the token is read and used to determine which advertisements should be shown to them.
They can then sell the tokens to opt-out of the system later, which can then be used by another user.
Middle: Value Exchange
The tokens are signifiers of value. The more quality information it has, be it in the form of an advertisement or personal information, the more it will be worth. Content creators will be able to determine which content can appear on their site through material connected to their own token, which again they receive for free.
Each time a transaction occurs, it is immediately paid for through the token system and thus eliminates the chronic issue of waiting weeks or months for compensation that may never come.
End Users and Advertisers
End users control what personal information is sent to advertisers. This operates exactly like a traditional opt-in marketing system, though with the added incentive to stay in through the increased value of their tokens.
End Users and Content Producers
End users can communicate with content producers about specific advertisements. Since every encounter is recorded, it is possible for content producers to respond to feedback in an effective manner in real time. For instance, any advertisement that harms the experience can be blocked from the site.
Content Producers and Advertisers
Content producers have an intrinsic interest in providing the highest quality experience for both end-users and advertisers. Thus, they will make certain that advertisements best suited for their readers/viewers are shown through the most user-friendly channels possible.
End: Further Data Input
Once a transaction is complete it is sent back to the blockchain using the Kind Ads Protocol. This helps inform the entire ecosystem as to how effective the advertisement campaign was, why it worked, and how better to target end-users in the future.
It is vital to understand that everything is done openly. Advertisers, content producers, and end-users all can provide insight into the platform and determine their levels of participation. Thus, as the service matures it will develop into the first genuine online advertising marketplace.
Kind Ads was founded with the simple goal of completely revolutionizing online advertising. By leveraging the blockchain and open standards, it seeks to create a true marketplace where everyone from content producers to advertisers and end users can meet and freely exchange information in a manner that respects the data’s true worth.