Basic Attention Token (BAT) is a new type of digital currency that has been created with the aim of improving and streamlining digital marketing. This is done by creating a new currency specific to use as a means of payment between publishers, marketers and users. All this is created on Ethereum's Blockchain.
Founder Brendan Eich, born in 1961, is an American
If we take everything from the beginning and start by trying to understand why Brendan wanted to create BAT from the beginning. The first thing to understand then is that the entire digital marketing market has evolved and come to be totally controlled by middlemen, measurements and, not least, fraud. Up to 50% of an average user's mobile data goes to ads and trackers, which you have calculated creates a cost of about $ 23 per month. This is based on what the average person pays per month for the amount of data the ads require.
Furthermore, the ads take up 5 seconds of an average mobile charging time. As a result, it has been possible to measure that the ads take as much as 21% of a mobile's battery life. There is also increased privacy risk as the big tech giants track users in up to 70 different types of trackers at the same time. All this to be able to target the advertising as well as possible. This at the same time as Malware, ie fraud ads, has increased by 132% over the past year in the US.
Short facts about ad publishers
Google and Facebook take 73% of all advertising revenue and 99% of all growth.
Sales have recently fallen by 66%.
Bottes accounted for $ 7.2 billion in fraud in 2017.
Over 600 million smartphones and computers run ad-blocking services.
Publishers cannot make money from VAT.
Advertisers do not have access to good information about what they are paying for.
Marketers are often tricked into fake websites and fraud-driven scams.
Ad targeting is poor, making users more likely to ignore ads.
The solution is a new browser / browser called Brave that you have developed in combination with a token. The token, called Basic Attention Token, is built into the browser and is intended to work in a natural way as value between the Advertiser, the Publicist and the user.
If we think that the digital marketing market looks and works similar to the visualization below today: We have them three "actors" in the market and in the middle we have the middlemen, which are largely made up of facebook and Google.
If we look instead at the next virtualization, we can see that in the new browser Brave BAT intended to replace the role of middlemen and act as a currency between the various players in the market. In the new scenario, publishers get paid when ads get many visits and clicks. Clicks and readings can be measured anonymously without the benefit of a third party. The idea here is that this will create a new and fairer system that is also much more secure against fraud. Finally, the user should also be able to receive BATs when they choose to watch ads and these BATs can then donate to the publishers they appreciate. The vision is to create an ecosystem that improves today's digital marketing.
All this Brendan wants to do with his Brave and BAT by creating a new and open system based on open source code, transparency, decentralization and efficiency.
More information can be found on the Basic Attention Tokens Website which you can find here!