Nowadays, prime focus is on digital forms of advertising, as opposed to traditional methods. In recent years, video, social media and virtual reality have come to the fore as mainstream means of product promotion. With every new development, there rises an opportunity; a chance that fraudsters have taken fully. These criminals are taking advantage of the billions of dollars involved in the advertising business.
The susceptibility of digital marketing to fraud is worrying, not only to investors, but the entire business fraternity. Reportedly, as much as 20% of the total revenue accrued from this business is lost through fraud.
After an incessant search for a solution to this debacle, ClearCoin came up with an answer – implementing blockchain technology in the ad market. Blockchain solved the double spending problem, in the cryptocurrency landscape, and ClearCoin envision the possibility of the technology saving digital add from fraudsters.
ClearCoin Global Advertising Exchange
This is a blockchain-based product promotion platform that seeks to admonish the problems facing digital advertising. Within this platform, publishers interact with advertisers, with all transactions between them recorded on the blockchain-oriented proof-of-history ledger. This custom-made ledger is immune to fraud and other inaccuracies that mar the credibility of conventional marketing methods.
In ecosystem, the ClearCoin token (CLR) is the principal medium of exchange. The exchange platform is entirely autonomous, albeit the fact that the token is built on Ethereum blockchain. Key beneficiaries of this project are video, audio, content, search, and TV advertising services. Moreover, brands, marketing agencies, ad publishers and a host of other institutions in this business will greatly benefit from the technology used on this project.
Describing the digital ad market as anything other than vibrant would be a massive understatement. This year alone, the total expenditure in this sector surpassed $500 billion by a considerable margin. Facebook and Google are at pinnacle of this business, taking up over a half of the market share.
Marketing is all about efficiency, an aspect that is proving to be a holy grail for many institutions looking to emulate the success of Google and Facebook. Before advertising exchanges came to the fore, advertisers had to make do with the incompetence and inefficiency of networks and other intermediaries. However, the exchanges, which promised to be game-changers, only papered over the cracks, and made it worse by fuelling fraud.
ClearCoin noticed this problem, and came up with an innovative idea that would provide a permanent solution. Their project, based on blockchain, will integrate both current and future digital marketing formats. All transactions will be monitored by the fraud-proof blockchain technology, increasing efficiency and revenue in the process.
A total of 1 billion CLR tokens will be created for the crowdsale. Out of these, 80% will be sold, with the remainder going to the reserves. The token sale started on 18th November 2018 and end on 31st March 2018.
Distribution of ClearCoin Funds
The funds from the ICO will be distributed as follows:
- 70% Engineering & Product
- 20% Marketing & Sales
- 10% Operating & Administrative
A considerable chunk will go towards technology, as this is what separates the best from the rest in the digital advertising industry.