Web Pioneer Plans Blockchain-based Digital Ad Platform

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Is digital advertising broken?

According to Brendan Eich, yes it is.

Eich is the CEO of Brave Software, co-founder of Mozilla and Firefox, and the creator of Javascript. He argues that the marketplace for online advertising has become overrun by “middleman” ad exchanges and is now developing a platform to clean up the mess he sees in the ecosystem.

The solution Eich and his company are proposing is a radical overhaul of display advertising, built on blockchain technology.

The first component is Brave, a fast, open source, privacy-focused browser that blocks third party ads and trackers, and builds in a ledger system that measures user attention to reward publishers with digital tokens — called Basic Attention Tokens (BATs).

The Brave browser and the BAT platform replace blocked ads with ads from approved publishers, provided users opt in. Those who opt in to advertising have their engagement privately monitored, without trackers, within the Brave browser. Machine-learning algorithms also match relevant ads to users based on the content they are engaging. Under the BAT system, users are also awarded tokens for their participation. The tokens can be “donated” to publishers or exchanged for premium content.

Ultimately, the company promises there will be fewer, more relevant ads and privacy will be more secure.

Read more here.