While I was doing some research for a previous post of mine. BAT, Mass Adoption and Related Matters - An Open Discussion I stumbled across across the Basic Attention Token (BAT) White Paper .
I found it interesting going to the source and it helped galvanise some of my thoughts and ideas. Also it helps to dispel some the misconceptions and misinformation.
The only other White Paper I bothered to seriously read was Justin Tron's pathetic attempt. That was only because he was accused of plagiarism and I was curious what the fuss was all about.
The Basic Attention Token White Paper is only 37 pages, so I have summarised some of the key points.
Basic Attention Token (BAT)
Blockchain Based Digital Advertising
March 13 2018
Digital advertising is broken. The marketplace for online advertising, once dominated by advertisers, publishers and users, has become overrun by "middleman" ad exchanges, audience segmentation, complicated behavioural and cross-device user tracking, and opaque cross-party sharing through data management platforms.
Brave is trying to re-establish the direct relationship between the advertisers, publishers and users by removing the "middleman". This is not a linear relationship i.e. advertiser to user to publisher. A person can be all three or a user can interact directly either with the advertiser or publisher or both.
Users face unprecedented levels of malvertisements and privacy violations. Mobile advertising results in as much as $23 per month in data charges on the average user's data plan, slow page loads, and as much as 21% less battery life.
All those supposedly free services do have a hidden monetary cost. Not just loss of privacy and data breaches.
In response, over 600 million mobile devices and desktops (globally) employ ad blocking soft-ware and this number is growing. Traditional publishers have lost approximately 66% of their revenue over the last decade. Publishers face falling revenue, users feel increasingly violated, and advertisers ability to assess effectiveness is diminished.
The solution is a decentralised, transparent digital ad exchange based on Blockchain.
The payment part is based on Blockchain and the Browser is Chromium based. The decentralised comes from removing the "middlemen" and your relationship is more P2P with advertisers and publishers.
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 attention to reward publishers accordingly.
Brave will now introduce BAT (Basic Attention Token), a token for a decentralized ad exchange. It compensates the browser user for attention while protecting privacy.
BAT connects advertisers, publishers, and users and is denominated by relevant user attention, while removing social and economic costa associated with existing ad networks, e.g., fraud, privacy violations, and malvertising.
BAT is a payment system that rewards and protects the user while giving better conversion to advertisers and higher yields to publishers. We see BAT and associated technologies as a future part of web standards, solving the important problem of monetizing publisher content while protecting user privacy.
This is one of the reasons my wife likes BAT/Brave as she could see the possibilities for her small online translation business LiaRio.com .
3.4 Tokens for User Application
While tokens can be donated to individual content providers and publishers, there are a number of use cases for the tokens.
Very Specific Targeted Advertising
An obvious use case is for very specific targeted advertising. Many small businesses have modest requirements which may be well served by tokens they acquire through their normal browsing activities. Users may also find new uses with low barrier to entry highly targeted ads; personal ads targeting people of a religion or subculture for example.
Another reason my wife likes Brave/BAT. Also read Turning a Crypto Skeptic Wife into a Crypto Advocate . She runs a small online translation business, with a tiny advertising budget. Once we sort out the issue with getting her website LiaRio.com verified, it is all go.
Some publishers may have premium content they would ordinarily only offer to subscribers. Since subscriptions models are not typically favoured by users on the internet, this could unlock new revenue for premium content providers. Content may also be bought for friends using the token; if someone likes a premium article, they can make a micropayment to send it to three of their friends.
Higher Quality Content
For example, higher quality video or audio on an entertainment channel, or some kind of summary of headlines in a news source......may be restricted to people who pay a small micropayment.
Comments and Votes
Comment votes backed by BAT may be given more credibility due to the fact that someone cared enough to back that comment with what would be a limited supply token.
This would help to eliminate Bot voting (thumbs up or down), abusive commenters. An early example of reducing spam emails by using micropayments as a disincentive was Hashcash. Also read Early attempts at e-currencies lay development foundation for Bitcoin .
Other Possible Use Applications
- to purchase digital goods such as high resolution photos
- in games provided by publishers
- custom news alerts
- while not mentioned in the White Paper, I like the idea of VPN included in the Browser or linked like the UpHold Wallet is.
This is not meant to be an authoritative piece but I have just picked out a few statements from the White Paper that I found informative and enlightening. I hope others also find this worthwhile.
Please feel free to give feedback in the Comments if you have any questions or you agree or don't agree with My Take on things.
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