A new crypto project will change the inherently flawed dynamics that exist between the web advertising industry and those whose custom it seeks to attract. —
The Mass Network is an initiative created by a group of cryptocurrency entrepreneurs and experts who recognised the potential of a blockchain-powered online advertising model. At present, online advertisers harvest extensive data from end-users, frequently without their knowledge or full consent. Although there is a ‘tacit agreement’ that much of the web is funded by this advertising and users accept that many of the services they use could not remain free without it, the sheer quantity of personal information collected in the course of targeting adverts means that they have become increasingly concerned and resentful of the trade-off. Some 90 percent of Americans acknowledge they have lost control of their personal data, and many are turning to ad blocking software to level the playing field again. However, this only forces advertisers and webhosts to seek new and ever-more aggressive strategies to maintain their revenues.
Changing the model
Mass Network will also employ ad-blocking software, integrated with a blockchain wallet. Instead of advertisers covertly appropriating users’ data, users will specify what data they are happy to divulge, and whether they are willing to be shown adverts. Advertisers will pay for this data at the rate the market determines.
The advantages of the blockchain mean that micropayments can be made efficiently and instantly through the real-time bidding (RTB) framework. Thus the initiative works with the trend towards increasing monetisation instead of trying to resist it, as conventional ad-blocking software risks doing.
The network’s currency of payment is the Mass Coin, which will be distributed in a one-off public offering following the platform’s crowdfund, which will end on 1 December. A fixed total of one trillion Mass Coins will be issued, with 700 billion going to investors and the remaining 30 percent being retained for internal use.
The value of Mass Coins will be driven by constant demand from advertisers in their effort to target adverts more effectively. Rather than cut one or other party out entirely – as the present situation does, regarding end-users as passive consumers rather than active participants – it creates a fair marketplace for data and adverts.
To find out more about Mass Network, visit https://mass.network or to invest in the crowdfund, go to https://ico.mass.network.
Release ID: 132606