Addressing $19 Billion Problem In The Ad Industry
An advertisement exchange network called NOIZ Chain announced a serious issue in the advertisement industry. Apparently, much of the public is unhappy with the digital media scandals. For instance, the Cambridge Analytical scandal was just the start – advertisers have been having issues with bots generating fake clicks, add fraud, and so much more. The advertising fraud has resulted in a $19 billion loss in 2018, which represents nine percent of the total spending on digital advertisements.
To correct the problem, NOIZ is offering cognitive banners aimed at increasing user engagement and to provide advertisers with better data concerning campaign performance. The platform’s technology, caked Nikola, gives consumers the opportunity to receive NOIZ tokens when interacting with advertisements. Users can save the tokens and used them to receive discounts on products and services and the tokens can also provide companies and individuals the ability to give the tokens away. This mechanism makes it easier for charities to facilitate social impact and to promote user engagement.
According to Andy Ann, NOIZ’s founder,
“It is high time that the ad exchange network evolves in this digital era. With the growing concern for protection of privacy, the billions of dollars wasted due to ad fraud, and publishers’ concerns over data leaks and cartelling in selling out ad inventory, the NOIZ ad exchange offers a one-stop solution to resolve all these issues.”
NOIZ is also looking to address fake news and unethical advertising practices, which have had a negative impact on the internet. To do this, NOIZ is looking to develop a system where the platform’s community can vote against advertisers they think have questionable business practices, as well as against publishers who post fabricated stories or plagiarized content. The hope is that the approach will ensure that parties are accountable for their actions. Ann stated that “We believe this will be the only way to build a robust advertising model for true engagement now and in the long-term.”
In addition to the higher accountability, advertisers themselves may also benefit from the approach. Consumers will receive rewards for sharing data with brands and publishers they trust. The valuable and accurate information helps business target campaigns with precision, rather than relying on algorithms that guess what consumers are interested in.
NOIZ is expected to release prototypes concerning the technology within the coming months. Those who are interested contributors can join the whitelist ahead of the token sale in quarter three of 2018. There is also speculation that other features, such as a consumer wallet, consensus voting, and the ability ty support charities will also be established as well.