Startup Project Brings Advertising To The Blockchain
The advertising industry has begun to raise a variety of issues in the daily lives of internet users. In particular, the prevalence of advertisements on the internet has taken on a pervasive nature, preventing some web surfers from enjoying or taking in the information that they care most about on the internet. Driven by profits and greed-based motivations, the advertisement giants who dominate the advertising industry continue to extend advertisements into every facet of the internet.
The two biggest advertising names on the internet are Google and Facebook, two gigantic organizations with the funds and the power to do nearly anything they want when it comes to the distribution of information to their consumers and to the general population. Despite the prevalence of their advertising efforts on the web, most users of their services know very little about the important privacy policies which drive the fair use of their information for advertising purposes.
But even for these companies, the global advertising scene online is a difficult one—and profits continue to fall. Research has dictated that digital advertising in the year 2020 is projected to generate around $335 billion in spending. Even more disgruntling, the spending is predicted to result in a loss of around 30% each year. Much of this loss is a result of the inefficiency of targeting practices, as well as the fraud which is rife within the massive industry.
The Zinc Protocol
The Zinc Protocol project is a blockchain-based startup project poised to revolutionize the way advertisement and privacy function on the internet. The team is working directly with IronSource to product a new, decentralized advertising platform using the latest blockchain technologies. The creators of the protocol outlined that they believe that the opaque practices which saturate the advertising model in the status quo.
In an interview, the co-founder of IronSource spoke on his philosophy behind creating the new protocol, outlining that he is a fan of a “product-first philosophy,” prioritizing investment in their own technologies in order to contribute to an explosive pattern of growth experienced over the last few years.
Working with Zinc Protocol project, the executive is firm in his belief that the partnership will help to empower users to have more control over the type of data that they share with advertising agencies, all the while incentivizing them to use the service to do so. Additionally, the service is supposed to give advertising companies a way to connect audiences to the most effective advertisements for their demographic.
IronSource is a digital advertising solutions provider which has worked with several major projects over the years. In particular, the organization has created a video network, a mobile mediation platform, as well as a variety of services in the data acquisition industry.
The benefits to the Zinc Protocol extend to both advertisers and the targets of extensive advertising campaigns. Specifically, the advertisers benefit from gaining access to the data shared by users through the platform. For the users, the Zinc Protocol allows them to have further information autonomy over the data which they do and do not choose to share with advertisers.