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In many ways, the online experience of buying goods and services hasn’t lived up to its potential. For all parties involved in the advertising process — the advertiser, the publisher, and the end consumer — there is a lot of friction and lost value, not to mention outright disappointment. Consider how irritating the plethora of spam in advertising can be, or how many people were outraged by the recent Cambridge Analytica-Facebook scandal. Then consider how dissatisfied advertisers are with low return on investment (ROI). Finally, the publishers themselves are fed up with having to resort to increasingly spam-based practices and being under the thumb of centralized ad exchanges.
Ad fraud is rampant, with bots inflating metrics with false positives. The end result is a negative experience for the end consumer, with less valuable information being accessible by advertisers and publishers.
The internet has an information supply problem: advertisers struggle to know how best to target customers properly, and customers are tired of having more and more of their data spied upon for this purpose.
In almost every industry, blockchain technology is addressing similar informational problems. Ledgers and microtransactions on a blockchain network can protect sensitive data and incentivize beneficial behaviour. Another development related to improving the quality of information online is artificial intelligence (AI): it allows companies to build ever more accurate programs and tools to meet customer needs in a more direct way.
A new blockchain-based platform, the NOIZ Network, is utilizing both blockchain and AI. The NOIZ team is building a platform where advertisers and publishers are held accountable to high standards of behavior, and customers are rewarded for engaging with interactive, cognitive ads.
Back to the drawing board
If you were to envisage a system that uses blockchain and AI to connect companies to their target audience, you might picture a system where mass-marketing is drastically reduced, smart bots communicate ideas concisely, and users have more say. This vision is what the NOIZ Network is creating.
“NOIZ believes in a transparent advertising space that gives control back to consumers and is free from the influence of advertisers, publishers and centralized ad exchange networks that seek to use consumer personal information in a malignant way,” states their whitepaper.
While this is a novel goal, the manner in which they are attempting to achieve this puts a fresh spin on targeted marketing: “NOIZ is solving these problems by combining an AI system with blockchain technology to create a hybrid proof of engagement concept to fight advertising fraud, while forming a consensus-based ecosystem that makes advertisers and publishers accountable for their actions and business practices. The result is a completely new digital ad network platform that will revamp the entire advertising ecosystem.”
They are hoping that this not only delivers higher ROI for advertisers, but also makes the entire online experience more sustainable overall: “It is the belief of NOIZ that a decentralized ad server, which allows the community to be the driving force behind the advertising ecosystem, will be the only way to build a robust advertising model for true engagement now and in the long-term.”
With a ring-fenced advertiser list that enforces standards of behaviour, a user base rewarded for engaging, and a delivery method that is more targeted than the existing paradigm, NOIZ aspires to make big changes in the advertising domain.
The NOIZ token underpins the functioning of the system, and the team are in the middle of scaling their efforts towards the token sale which begins in early August 2018.