Papyrus, found online at Papyrus.global, is a decentralized advertising ecosystem. Find out how it works today in our review.
What Is Papyrus?
Papyrus is a decentralized advertising platform built on blockchain technology. The developers have scheduled their ICO for mid-October.
Papyrus describes itself as “the world’s first fully comprehensive and highly scalable decentralized ecosystem for digital advertising which radically improves programmatic advertising stack to provide efficient, transparent and mutually beneficial environment for users, publishers, advertisers and decentralized applications (DApp) developers using blockchain architecture.”
Obviously, that’s a bit of a wordy definition. Basically, Papyrus wants to make the advertising industry more efficient for all parties involved by using a blockchain as a middleman instead of a centralized platform like AdWords.
With that in mind, let’s take a closer look at how Papyrus works.
What Problems Does Papyrus Seek To Solve?
The online advertising industry is far from perfect. Here are some of the problems that exist in today’s advertising industry:
Poor User Experience: most of the digital ads on our screens are irrelevant. The remaining ads are annoying. They’re invasive, abusive, or designed to rob us of our attention and concentration.
Lack of Privacy: Advertising is built on using your user data to narrow down your demographic information. There’s limited privacy on the internet, and there’s limited consent for how your data is used.
Unreliable Targeting: Even with all the data sharing that exists today, advertisers often struggle to pinpoint their demographic. Targeting can be unreliable, and no single entity can maintain a complete, up-to-date user profile of one person.
No Transparency: Today’s advertising industry has long, inefficient chains of intermediaries between advertisers and publishers. Many of these intermediaries do not bring value, but increase the cost of doing business.
Massive Fraud: Up to 70% of traffic advertisers are paying for is non-human or fraudulent traffic. Advertisers use third-party tools to fight fraud, which leads to high costs and middling success.
High Administrative Costs: Today’s centralized advertising industry leads to high administrative costs and overhead. The use of fiat currencies increases transaction costs, for example, while legal and administrative costs occur throughout the platform.
Papyrus aims to solve all of these issues using the features and benefits listed below.
Papyrus Features And Benefits
Controlled Advertising: Users can create precise policies to control what ads they see and what data they share with advertisers.
Comfortable Internet: Advertisers have to focus on enhancing the user experience, which means there are no more inappropriate ads or “malvertisements”.
Sharing Economy: Users participate in a fair sharing economy where they receive compensation for their data. Users also receive compensation when responding to advertising.
Ad-Based Decentralized App Economies: Papyrus aims to create a seamless merge of ad monetization and decentralized app (DApp) value economies, allowing developers to build new generation DApps that utilize ad rewards).
Growth for DApps: DApp developers can instantly promote their applications and token offerings using a consolidated userbase of existing DApps.
Higher Revenues: Even traditional web and mobile publishers can leverage benefits of instant payment settlements and additional advertising demand.
High Quality Traffic: Decentralized reputation and antifraud solutions within the Papyrus ecosystem are designed to promote high quality traffic while protecting advertisers from non-human, fraudulent traffic.
Complete Transparency: Like other blockchain-based platforms, Papyrus emphasizes transparency. All advertising data is securely stored in the blockchain, and decentralized storage enables traceability of all operations, which eliminates fraud within intermediary ad purchasing chains.
Low Technology Costs: Papyrus creates a transparent environment with real-time advertising payments, significantly reducing technology costs compared to complicated traditional adtech solutions.
Who’s Behind Papyrus?
Papyrus’s team first collaborated in Q1 2017. By Q3 2017, the team had launched their initial prototype for Papyrus on the Ethereum mainnet.
Key members of the team include Alexander Shvets (Product Director) and Leo Eletskikh (Technology Evangelist).
The team has a background in building and scaling successful advertising and blockchain technology businesses. The core development team consists of 12 people. Papyrus is based in Singapore and is registered under the name Papyrus Foundation Pte. Ltd.
The Papyrus Token Sale
Papyrus will introduce two utility tokens, including PRP or Papyrus Prototype Tokens – which will be used in the ecosystem prototype – along with PPR, or Papyrus Permanent Tokens – which will be used in the permanent version of the ecosystem.
The overall emission of PPR tokens will be limited to 1 billion, with no future token generation occurring.
The pre-sale starts on October 12, 2017 and will end when the hard cap goal is reached, or when 21 days has passed. The hard cap for the first round is $5 million.
15% of the PPR token supply will be distributed among PRP token holders in exchange for their PRP tokens, and proportionally to their PRP holdings, at the end of round two.
Ultimately, Papyrus is a blockchain-based advertising marketplace that aims to provide better transparency throughout the advertising ecosystem. This is designed to reduce fraud and cut down on intermediary costs, leading to greater efficiency for advertisers and publishers. Furthermore, with Papyrus, users can control what ads they see and what data they share with advertisers. Users can earn tokens in exchange for sharing data with advertisers, or earn more tokens for completing a certain action.
You can learn more about Papyrus online today by visiting Papyrus.global.