Basic Attention Token
Basic Attention TokenFrom the creator of JavaScript and the co-founder of Mozilla and
Firefox, with a solid team – funded by Founders Fund, Foundation
Capital, Propel Venture Partners, Pantera Capital, DCG, Danhua
Capital, and Huiyin Blockchain Venture among others.
Overview
BAT or the Basic Attention Program is a blockchain based digital advertising technology. BAT will revolutionise the way digital advertising works by cutting out the middleman and giving back to the users, advertisers and publishers.
The current state of digital advertising is in turmoil of fraud, trackers and middlemen whose intention is to sell your information such as browsing history and personal details. This is the industry that BAT is challenging by giving users their privacy back, giving publishers their income back and finally a better turn over for businesses involved in digital advertising.
Note:
- Up to 50% of the average user’s mobile data is for ads and trackers, costing as much as $23 a month.
- Privacy is violated when large media sites host up to 70 trackers.
- Malware (malvertisements, ransom-ware) is up 132% in one year. (check out the BAT website).
How does it work?
As we evolve into a new generation of technology, our capabilities have allowed us to form amazing new ideas. The Basic Attention Token is on the Ethereum Blockchain (ERC-20), it also incorporates the Brave Browser which is an open source browser with the intention to block malware in form of advertising and popups, trackers, and it also contains a ledger system that calculates user attention to accurately reward publishers on advertisements.
The Basic Attention token will have an integrated wallet on the Brave Browser, so users and publishers will get paid in BAT purely focused on how much attention that advertisement gets.
It is exchanged between all platform of users, as stated in the August Conference regarding BAT by the Founder
- Advertisers get better data for their money
- Users get high quality advertisements without the risk of personal information and hackers
- Publishers aren't robbed by the middlemen and are actually paid for
their efforts.
My personal analysis
At this very moment of this published article, Brave Browser is functional and working, the next step is to implement BAT into the system. So the integrated wallet will be introduced soon, followed by the stream of publishers ready to work after the large hiring process that BAT is in the middle of and with a big supply of publishers ready to work and businesses that want to join a new age of digital advertising.
Why is it undervalued?
Lets be serious for a moment, AdEx gets pumped hard and is worth 30k SATs, meanwhile BAT is worth less than 6K SATs, it just doesn't make sense. I'm not going to give away a lot but in good faith of BAT here is some information of why I believe this is undervalued.
Telegram bot: In messaging apps like Telegram, we foresee the possibility of users being paid in BAT to view one ad.
WeChat official account: WeChat has become a robust system of bots, payments, and other solutions. We foresee the creation of different WeChat solutions integrating the the token.
Token and Status: The BAT also has attention-based applicability inside the Ethereum-based messaging/payment platforms such as Coinbase’s new Token app and Status app.
Source: here
With 300M units going into circulation in near February 2018 what will that do to BAT, will it promote growth of the company and give users an incentive to join the Brave + BAT collaboration.
In the near future, we will use tokens set aside in the User Growth Pool (UGP) to incentivize users to join the platform. If these tokens are not used by recipients within 6 months then they will be returned to the UGP. We may change the timing of this return policy based on how it is functioning.
The information above is also confirmed in the August Conference here
All images supplied are found here
Note: You can find more information:
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I think ADEX is a competitor, and it's all hyped right now coz it's using NEO.
I really don't get AdEx. Do they even have a product? Just seems like they're hyping an idea and will get to an actual product later.
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I've been using the brave browser and it's fast. Also the founder is the former creator of Mozilla.
Thanks for your work @cheech-oz Followed...
Great post @cheech-oz. I've used Brave for some time, and it's a fantastic browser and keeps getting better with each release. This week the browser will start to use the BAT token, which is just the beginning.
Brave is a great browser (switched over on all my devices) even without BAT. Once integrated later this week it will be a total game changer. Can't wait to see where BAT goes in the future!
Great article, thanks for that! We recently wrote about BAT as well, it definitely is the future. It will be really interesting to see how it affects digital marketing and SEO. Exciting times ahead!
Ahah thanks for the reply. This is one of my earliest Steemit posts and still one of my favourite. This was featured by BAT also.