Zinc CEO on merging ad tech and blockchain technology
Over 30% of the $335 billion projected ad spend in 2020 is estimated to be lost to inefficiencies in the current digital advertising landscape.
With nearly a third of all money that goes into digital advertising getting thrown into the abyss of click farms, click spam, malware, ad stacking, bots, and other wasteful activity, it’s no surprise dozens of entrepreneurs in the space are turning to build businesses around solutions.
Zinc is a blockchain-based advertising protocol looking to crack the code to salvage some of the estimated $100.5 billion that goes to waste.
Zinc incentivizes users to be more engaged with the platform by compensating them with rewards for the ads they watch in the apps they already use. These rewards can be spent to reduce the number of ads they see, as well as accessing premium features and content inside Zinc Protocol partner apps.
Daniel Trachtemberg, the CEO and Founder of Zinc, was previously the Head of Mobile Fraud Prevention and Director of the Mobile Data Management Platform at app monetization company ironSource with over 1.5 billion monthly active users.
How does Zinc differentiate from other similar projects targeting blockchain in advertising, such as Basic Attention Token?
One of the main challenges for all new startups, especially in decentralized ecosystems like blockchain based dApps is distribution: user acquisition & adoption.
BAT is aiming to drive adoption through their web browser – the “Brave” browser. A great product, but getting the users to adopt a new browser and change their habits on that level is quite a challenge. So one key difference is that users who will participate in the Zinc protocol ecosystem will gain more rewards within the apps they already use. Basically, apart from having to install the Zinc wallet app, where users choose what information to share with advertisers, they continue doing everything as they do now, and so does the rest of the industry. Another key difference between Zinc and other projects is that the Zinc Protocol does not aim to cut out the middleman. A lot of projects are claiming that the problem is the middlemen and if advertisers and publishers had a way to work together those problems would be solved, which in concept is a great idea, but in practice we think it’s a bit naive.
It seems that Zinc is focusing efforts into app-based advertising rather than website advertising. Is site-based advertising something Zinc will explore in the future or do you see the future of digital advertising as being app-based?
Web-based advertising is something Zinc will definitely explore in the future. However, it seems the general trend is towards mobile: more and more people spend more time on their mobile phones. Mobile is a segment that’s showing rapid growth and advertisers see the potential, which is evident when you look at the growth of marketing budget spend on mobile each year.
But this growth also fuels inefficiencies and fraud, keeping big brand advertisers away from running mobile campaigns, which, in my opinion, is quite a paradox: as fraud grows in relation to mobile spend growth. So if we eliminate fraud & data inefficiencies, mobile can become even a greater untapped channel – especially for brand advertisers with big budgets.
In addition to fraud, access to quality data is one of the issues faced by advertisers. Can you explain why this is an issue, and how Zinc will provide better data quality to advertisers?
First party, real human-verifiable user data is the most precious asset traded in the advertising ecosystem, I would dare to say even more than actual ad real estate.
Most advertising budgets are dedicated to targeting specific audiences. So if a publisher succeeds in attaching high quality, verifiable user data when selling an ad space, the amount of money he’ll be able to charge is exponentially higher than without this user data – this is key to understanding how Zinc will generate value for all the players in the ecosystem, including the user/consumer.
Today only Facebook and Google and some PMPs (private marketplaces) have this kind of data. Imagine that you could target users outside the duopoly with the same accuracy – it will improve the way app developers and publishers do business (focusing of ad quality and not quantity): increase the advertiser’s capability to generate reach, and significantly improve the user experience.
That’s exactly what the Zinc protocol is meant for: ensuring users are real humans, allowing users to self-disclose basic information in exchange or getting more rewards and fewer ads via the Zinc token ecosystem. This first party data information will be used to target the specific audiences with a higher accuracy and efficiency resulting in higher revenue, less waste and better user experience.
Many app-based games such as Angry Birds already offer users the ability to earn and spend in-game rewards. How will the user experience with Zinc differ from this?
Most of the game publishers rely on advertising to achieve two main goals: the first, monetize and build their businesses; the second, keep players engaged...
How to choose your blockchain advisors
Or a guide for management teams on how to choose your advisors
Six months before Mr X. was barely known, he might not even know about the Blockchain. And now he is proudly broadcasted in major rating websites as one of the top ten best advisor of the sector. He is one of the ghost advisors of the Blockchain… They work for private multinational companies as employees or middle managers, more than 10 hours per day, they are often family men with many kids, and end up as advisors of more than 30 projects in less than 3 months (one might ask where they find the time). With credential related to their new positions, they are asking high upfront and percentages on ICOs. But, once you have dealt with them and send them your tokens… You will hardly heard of them (or just when it is time to cash in).
This is the new obscur face of the Blockchain. A new kind of financial vampires who is only here to suck the workforce of ICO team members and benefits of token holders. They have no genuine passion or vocation for the Blockchain technology and this amazing paradigm shift. With no real experience as CEO or real operational job in the Blockchain, they nonetheless, position themselves as the utmost experts.
For the last 3 years, Initial Coin Offerings has set up a new kind of company financing for companies using the Blockchain Technology. The technology application is still at an early stage, and changes occur at fast pace. The need for advisors to guide in each development section of the project has become vital for a project to succeed.
Surfing on this wave, a new kind of opportunists people have emerged far from the legitimate and genuine advisors. Entrepreneurs entering the sector must really be aware of the new practices settled by some unscrupulous advisors asking for shockingly huge compensation schemes.
In this context, it is sometimes difficult for CEOs and Blockchain project founders to find the right experts to assist and consult to develop the project. But there are solutions. And bear in mind that it is not the “best” advisor meaning the one with the most hyped reputation that will push your ICO to the next level, but the hard working and committed person that loves your project. I have being talking with many CEOs and experts as have been confronted with those Ghost Advisors over the last year. Here are few hints that will avoid traps and save you time.
If you are a CEO like I do and you get propositions from those people (and trust me if you have a legitimate project with growing reputation, they will come to you to propose their services). Hiring those persons is the worse things an Entrepreneur may do. They will suck the ressources needed to develop your project without tangible worked done in exchange. At Fieldcoin, in collaboration with our CLO and the management team we have seen this from the early beginnings. In order to avoid the traps, we have put a series of safeguards to protect the project and get the most of our Advisory team.
Signs that you are in front of a ghost advisor
High percentages of the ICO allocated to Advisors Some CEO’s are tempted to allocate high percentages of the ICO to Advisors. If you see an ICO with more than 3% allocated...
JPMorgan’s focus on blockchain is part of their digital transformation roadmap
A study into JPMorgan’s digital transformation initiatives has revealed that blockchain is a key technology for the bank’s roadmap, according to a press release published by ResearchAndMarkets.com (RM) October 3.
RM has analyzed JPMorgan’s enterprise-wide strategies to secure its “competitive edge” against rival banks, non-financial firms, and fintech startups. The bank has reportedly earmarked $10.8 billion for technology spending in 2018, $5 billion of which will go towards fintech investments.
The study covers JPMorgan’s digital transformation roadmap, with blockchain listed as the first in a range of bleeding-edge technologies that are being pursued by the bank — including big data, cloud, artificial intelligence (AI), and robotics.
It...
Blockchain Technology And The Disruptions It Is Causing In The Financial Industry [infographic]
The cryptocurrency industry has given birth to a whole host of interesting and useful technologies. One such technology that is making a huge difference in many industries is the blockchain technology.
This type of technology facilitates online transactions and it could potentially revolutionize the way that the financial industry operates. This article and infographic look at what the blockchain technology is and how it is causing disruptions in various industries.
What Is The Blockchain Technology?
Blockchain technology can be used as an online transaction facilitation. This technology uses a public ledger to record transactional data, and the process is sent through a peer-to-peer network. The transactions are encrypted and there are no centralized control or middlemen.
Basically, a blockchain transaction is conducted in the following way. The instigating party sends a transaction request through the peer-to-peer network. This transaction request is authenticated on the blockchain public ledger and added to it as a new block of data. This data is then passed through the peer-to-peer network to the recipient and finalized.
The following facts are some of the benefits of blockchain based transactions:
- The decentralized nature means no central control
- The lack of a middleman means lower transaction fees
- Encryption means greater security
- The peer-to-peer network means faster transactions
As you can see, blockchain offers many benefits. Generally, blockchain based transactions are faster, cheaper, and more secure than traditional online transaction methods.
What Industries Are Already Using The Blockchain Technology?
Currently, the most widespread use of blockchain technology is the authentication of cryptocurrency transactions. This is essentially what makes cryptocurrencies possible, so any person that participates in crypto coin trades, gambles at an online Bitcoin casino or even uses Bitcoin to pay products and services is directly dependent on blockchain tech. Whilst this technology is still in its infancy, it has already progressed hugely and many industries are actually experimenting with it in some interesting ways.
Possibly one of the most interesting implementations of the technology is what the government of Sierra Leone has actually this year. It held a blockchain based elections, which created the first-ever public vote that couldn’t be refuted or disputed. Due to the blockchain public ledger, each vote is recorded and there is irrefutable proof of its creation and content.
Blockchain technology is also being used in the energy supply industry, charitable organizations, cloud technologies, and even supply chain management, to name a few examples. As this type of technology develops and becomes widely accepted, we should only see an increase in its usage.
Furthermore, we should see a greater variety of different uses for the blockchain technology. It is clear that the financial industry must pay heed to it, as it could supersede traditional online payment methods in the future.
The infographic below provides additional information about this type of technology:
IBM Debuts 'Blockchain World Wire' Payments System Powered by Stellar
Every quarter we are seeing more Fortune 500 companies making headway into the blockchain with patents and beta testing.
IBM is taking its long-in-the-works blockchain-based payment system out of beta, with the launch of a new product called Blockchain World Wire.
Aimed at institutions and harnessing the stellar blockchain network, Big Blue says its new financial rail "can simultaneously clear and settle cross-border payments in near real-time."
Similar to other blockchain-based payment networks such as Ripple, World Wire attempts to do away with banking intermediaries that add complexity and cost to the traditional international payments systems.
According to a document provided by IBM, the product works by substituting the banking intermediaries normally needed for cross-border payments with digital assets sent over a distributed network.
The company says on its website:
"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions."
Effectively, using World Wire APIs plugged into banks' existing systems, fiat currency is exchanged into a digital asset at bank A. It is then transmitted to bank B, where it is converted into a second fiat currency. "All transaction details are...
Coinbase Study Finds Blockchain Courses Popular With University Students
Crypto is making its entrance into the world’s academic scene, and students are lining up to learn.
A recent Coinbase study reveals that University students want to learn more about cryptocurrency and blockchain technology. Commissioned by Coinbase in partnership with Qriously, the survey sampled 675 U.S. students, and it found that students across all majors have an interest in blockchain technology.
Some have literal vested interest in the cryptocurrency market itself, while others are looking to leverage blockchain courses to break into the space’s developing job market. Of those surveyed, 18 percent reported holding some value in cryptocurrency. Another 26 percent indicated that they’re interested in taking a blockchain-related course in the future, with the most immediate interest coming from social science (47 percent) and computer science (34 percent) majors.
Benedikt Bunz, a doctoral student at Stanford, said the "tremendous excitement" around the blockchain and cryptocurrency courses is due to the ease of getting a job after graduation due to the high demand for blockchain experts.
“If you’re an expert in cryptocurrencies and cryptography you’ll have a difficult time not finding a job,” he noted.
The survey also studied the top 50 universities in the world as ranked by the U.S. News...
Square Wins Patent for Cryptocurrency Payment Network
Digital payments firm Square has won a patent for a payment network that allows merchants to accept payments in any currency, including bitcoin or another cryptocurrency.
Square Wins Patent for Crypto Payment Network
Public documents published on Aug. 21 show that the U.S. Patent & Trademark Office (USPTO) has approved Square’s application to patent a system that allows merchants to accept cryptocurrencies alongside conventional payment methods and cash out in their currency of choice. The San Francisco-based firm first filed for the patent in Sept. 2017.
From the patent:
“The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies…including virtual currencies including cryptocurrencies (bitcoin, ether, etc.)…than a traditional payment system in a transaction between a customer and a merchant, and specifically for a payment service to solve or ameliorate problems germane to transactions with such currencies. Specifically, the payment service described herein can facilitate real-time (or substantially real-time) transactions, allowing a customer to pay in any currency of their choice, while the merchant can receive payment in a currency of their choice.”
Square would not be the first payment processor to allow merchants to accept payments in cryptocurrency that are automatically converted into local currency. BitPay, for instance, has been processing bitcoin payments since 2011.
However, Square already has tremendous market penetration, so adding cryptocurrency payments to its present POS system would allow millions of merchants to accept bitcoin without having to onboard to another payment processor or manually convert cryptocurrency funds into fiat.
Eliminating Bitcoin Transaction Latency
Notably, the patent also details a...
Binance Backs TMON Unicorn Founder's $32 Million Crypto Stablecoin Financing
Yet another stablecoin is attracting big investors.
Announced Tuesday, the founder behind a $1.4 billion startup unicorn called TMON is revealing he has raised a $32 million seed round to build a stablecoin called Terra. But while a number of startups have deployed stablecoins – cryptocurrencies engineered to track the price of another asset, usually fiat currency – Terra comes with a notable addition: an existing user base.
Created by Korean entrepreneurs Danial Shin, who founded and chairs TMON, one of the top e-commerce websites in South Korea, the Terra project is launching with a significant number of partners that already reach 40 million customers. Those partners, who will together form the Terra Alliance, a group of e-commerce sites that are interested in incorporating the stablecoin into their business, include Woowa Brothers, Qoo10, Carousell, Pomelo and TIKI.
According to a spokesperson for the project, those companies, combined, take in $25 billion in sales.
"We've banded together all the e-commerce platforms in Asia that are not called Alibaba or Amazon to push Terra into the hands of many many people," Shin told CoinDesk.
It's no wonder that the round includes quite a few notable crypto investors, including Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital, Arrington XRP, Binance and others who were not disclosed.
"We are pleased to support Terra, which sets itself apart from most other blockchain projects with its established and immediate go-to-market strategy," said Polychain's Karthik Raju in a statement.
Echoing that, Ella Zhang, head of Binance Labs, said in a statement:
"While we see many stablecoins coming out, Terra's journey is especially meaningful as they are designing one of the few price-stable protocols with existing, working and strong go-to-market strategy and usage."
That use, according to Shin, is in acting as an economical digital payment system, compared to credit cards.
He told CoinDesk, that a significant portion of TMON's annual losses take the form of credit card fees. And he's sure other retailers experience the same.
That...
Trying on (Virtual) Shoes and Clothes
One of the key advantages that the old-fashioned brick-and-mortar stores still have over internet shopping is: the shopper wants to be able to try stuff on for size. Shoes and clothes especially. You can’t do that from home. Can you?
Imigize LLC, a Berkeley, California based company may break down that barrier to the final triumph of the online world, with “personal anthropometric 3D” modeling, that will drastically reduce the number of returns on non-fitting goods. The shoes are the relatively easy task they’ve taken on first: mastering the 3D modeling of a shopper’s feet will be easier than mastering that of the rest of the body.
The business plan requires privacy: shoppers will have to know that their foot/body details are not going to be available to any clever hacker, as they likely would be, given a centralized cloud-based system. Thus: blockchain is critical. And in connection with blockchain, there will be a token (imgz). The imgz is now in its private pre-sale phase. An ICO is planned for September 20, with an initial value of 1 imgz at 0.00010147 ETH.
A Chinese Regime Critic and an Irish Conceptual Artist
Ai Weiwei and Kevin Abosch have teamed up on an art project that uses twin Ethereum-based tokens they have created. This is “conceptual” art -- that is, the sort of art that is supposed to make you say “oh, wow” when you hear the idea explained.
The project, called PRICELESS (PRCLS) involves twin ETH based tokens because one of them is to be made publicly available and the other will be utterly inaccessible. Dear reader: has your head just exploded?
Ai Weiwei is a critic of China’s government who was arrested in April 2011 and held for 81 days on unspecified “economic crimes.” He was allowed to leave the country in 2015 and he now lives in Germany. Abosch is an Irish artist working in film. He once sold a photograph of a potato to an anonymous businessman for €1 million.
Abosch describes the idea behind the Ethereum project as “just another thing to engage people in the hope that they will spend a little bit more time reflecting on the perversity of hw most of us ascribe value to things.”