Papyrus: Blockchain and Other Technologies Protect Advertisers and Users on the Internet

Ad fraud traffic is a real disaster for the digital advertising industry. The size of the market is more than $200 billion (annually) and counting, but more than half of this amount goes to botnet owners and to other unscrupulous website owners, developers, and ad agencies. The key issue of the modern digital advertising market boils down to the fact that the advertiser gets only so much data about his or her campaigns.

Sure, the advertiser can track the well-known metrics—like clicks, views, time spent on the website—but that’s only the tip of the iceberg: the true efficiency of these metrics depends on their price and quality which is impossible to track and verify in the long-established digital advertising market.

papyrus, cryptocurrency

And still, any sophistication of the advertising performance evaluation methods is based on the above mentioned metrics. The number of clickthroughs and/or views—that’s the key point around which—along with sales volumes—the whole performance assessment of a given ad campaign is based.

Of course, targeting, audience surveys, and other marketing mechanisms and tools are used in order to increase this very performance (converting users into customers). But the current paradigm of the internet implies a relative privacy and anonymity of data. All the data that is used by marketing and advertising specialists is collected by internet giants like Google. These giants are legally obligated to “anonymize” data when reselling it—it’s naive to expect that there’s no detailed ‘folder’ on you somewhere. It’s just this ‘folder’ must stay on the corporation’s servers. Hence, what we have is a paradoxical situation: personal data and behavioural models for real people are so depersonalized and averaged (so that it wouldn’t be possible to track down a person through public sources) that a software engineer worth his salt will have no difficulty creating an army of bots that would imitate the behaviour of a real person on the internet. Well, this is how the marketing and advertising department of a hypothetical company “N” sees it, of course.

The “incompleteness” of personal data, millions of intermediaries, targeting based on them and a lack of customer feedback (to make sure there’s a person at the other end, not a bot)—all this causes the above mentioned pouring many billions of advertising dollars down the drain.

What is fraud, anyway? Primarily, it consists of the already mentioned botnets that mimic human beings and view ads, click links, and visit websites. Depending upon the level of sophistication of their creator, botnets might be so successful in mimicking the behaviour of real people that you won’t even suspect that half of all the clickthroughs to your website was made by money laundering machines. Another method of organizing non-human traffic is as old as in the internet itself—clickbait. In the classic sense, clickbait is an eye-catching ad or headline—anything that so powerfully grabs the attention of the user that he or she clicks the link. And ends up on a website that is of no interest to him or her whatsoever. The advertising publisher skims the “cream” off this interaction—yet another view and a corresponding amount of money from the advertiser’s budget. Bot traffic is most problematic when it comes to the mobile app development. As opposed to their web counterparts, mobile developers have no qualms about running bots that boost the views in their products in order to earn on ads (especially if a given app can be downloaded for free). Of course, advertisers and advertising platforms try to fight this but as in any field having to do with information security the ultimate resolution is not possible: any new identification method based on the depersonalized data paradigm will be countered by yet another ruse or method that will circumvent these verifications.

What Papyrus offers

Papyrus is a token-based online economy for market participants with mechanisms enabling the transparency of arrangements/advertising transactions and the integration of audit suppliers. And it is better than the existing solutions because:

  1. The making of decisions and their technological activation will become a great deal faster. In Papyrus’s native pay-as-you-go economy all the services are paid for in tokens and online. It will be possible to connect and disconnect all the service providers right away, for instance, by creating sophisticated consensus rules for fraud detection using several providers for verification, etc.
  2. Market participants will receive economic incentives that will encourage them to work more efficiently and will discourage them from foul play. For instance, publishers generating fraud traffic will be penalized by withdrawing money from their own Proof-of-Stake deposits (placed when registering in the ecosystem).

The proposed structure of interactions within the Papyrus advertising ecosystem will not only help increase the quality of advertising and facilitate its delivery to its true target audience but—most importantly—will help eradicate fraud as a phenomenon.

Papyrus uses the now popular blockchain technology. Blockchain, famously, is an end-to-end structure—an interconnected sequence of data blocks containing records (transactions)—that is completely transparent to every network participant. But blockchain itself is not enough—its maintenance costs should be justified and there’s no point in keeping all the logs of all the transactions on it. It’s simply impossible. The transparency is achieved by arranging payments in tokens and using blockchain to control the integrity and chronology of transaction data being kept in separate storage spaces—which is quite important when fighting fake traffic.

Currently, the Papyrus project has no analogue. It has developed a technology architecture that allows for avoidance of well-known blockchain scalability issues. The scalability of the Papyrus project will allow it to quickly and seamlessly grow up to any volumes in accordance with the demands of the market, processing billions of ad impressions on a daily basis. This comprehensive system will bring together users, publishers, advertisers, and developers of decentralized applications (dApps) making their interactions transparent and mutually beneficial.

The Papyrus decentralized digital ad ecosystem is built on top of the Ethereum blockchain and its smart contracts, a network of state channels for bandwidth scalability and a reliable decentralized data storage structure to minimize storage costs and maximize speed for handling large amounts of data.  Papyrus consists of 4 layers of architecture with the components of each layer developed as open source software. Papyrus will also employ blockchain-based identification and reputation management tools for ecosystem participants as well as a decentralized real-time-bidding (RTB) protocol that will support dApps and instantaneous transactions. This framework combines decentralization, capacity, and speed.

So why are high-speed anti-fraud solutions so important? Nowadays, integrating and connecting that kind of system takes a lot of time and effort. Besides, anti-fraud solutions aren’t exactly cheap. On an average, that kind of contract costs $200,000. That is, if an advertising aggregator has signed a contract with a provider, it’s virtually stuck with this solution forever.

The Papyrus ecosystem allows participants to create sophisticated consensus rules that would detect fraud immediately. Basically, the structure of the platform would discourage users from breaking the rules and motivate fair play because fraud would be quite easily detected through cross-validation by several providers and penalty fees would be deducted from their own ecosystem participant’s Proof-of-Stake deposit (placed when registering in the ecosystem).

The key thing that unscrupulous market players cannot hide is the simple metric of conversion that we’ve mentioned in the beginning of this article. Its clumsiness notwithstanding, conversion is a valid metric for the performance of a given ad campaign and the quality of the services provided by publishers or platforms to advertisers. Conversion implies user expenses or a much more complicated model of behaviour (using the advertised product) than any bot can mimic. But unless we have a transparent public accounting and ranking system we can’t possibly know how “clean” a given market participant is.

The advertiser can only take guidance from website reviews and results given to him or her by the publisher. Blockchain and state channels eliminate the very possibility of the manipulation of facts: all the information about ad campaigns, conversion and the level of satisfaction of users with advertising (based on feedback) will be available and completely transparent to all the participants. Papyrus will employ blockchain-based identification and reputation management tools for ecosystem participants as well as a decentralized real-time-bidding (RTB) protocol that will support dApps, instant transactions, and a transparent environment for working with programmatic advertising.

In order to accelerate the market adoption of the Papyrus ecosystem, it will have special open-source gateways that would be easily integrated into traditional advertising systems thus making them part of Papyrus.

 

Ready to go – ecosystem prototype is already finished

 Papyrus has completed the working prototype and is starting its first real integrations in the advertising market.Prototype smart contracts have been successfully deployed on the Ethereum mainnet; and the prototype Core code successfully executed a series of dRTB transactions.  After passing the audit by Ambisafe, the prototype PRP token was deployed. Now the contracts remain operational on the mainnet, ready to support the coming registrations of new participants  Papyrus already has started the first strategic partnership and integrations with Airpush, Bancor, WINGS, and BitClave.

Compensation is guaranteed

It’s quite obvious that service providers with low or suspicious ratings will not be able to dictate the market price for their services which will at least result in the balancing of price and quality.

The current digital advertising market is built by intermediaries and for intermediaries: tech companies collecting data and publishers selling ad spaces. Advertisers together with users are left out—they are on the sidelines. Papyrus aims to change the status quo and to make the digital advertising market beneficial for those who are truly interested in the market as an efficient tool and not for those who use it exclusively as a means of easy money and to create the conditions in which advertisers will be much more efficiently protected from fraud traffic and they will get much higher results for the same amount of money.

Economic benefits would amount to billions of dollars globally, and the internet will become comfortable for users because there will be no malicious and fraudulent advertising anymore. Papyrus does not aim to eliminate or get rid of intermediaries in the process of ad buying but it will make interactions with them completely transparent and clear to all market participants.

The tokens of the project are selling now during the Papyrus crowdfunding campaign that has started on October 12. You can support the idea of properly cleaning up the digital ad market with cryptocurrency on the Papyrus ICO website

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BitClave, a blockchain startup developing a decentralized search ecosystem, has completed a very successful private and public pre-sale token event raising almost $15 million and receiving commitments for another $24 million. BitClave is also excited to announce the start date for the highly anticipated crowdsale of their Consumer Activity Token (CAT) is November 8th, 2017. BitClave is expecting to reach $50 million during the crowdsale.

BitClave, a software company led by former LG Electronics CSO Alex Bessonov, is using blockchain to eliminate ad service middlemen and create a direct connection between businesses and customers. BitClave is building a decentralized search engine that helps its users truly find what they are looking for and get compensated every time they search privately for products and services from their favorite brands, making third-party advertising networks unnecessary and annoying ads a thing of the past.

The BitClave Active Search Ecosystem (BASE) is a unique platform where users can perform a search and then opt-in to relevant advertisements, earning CATs for each ad with which users engage. Customers have control over their own data and can choose whether to reveal their identity and personal information to retailers. Customers can decide who has access to their data and are “paid” each time businesses “use” their data to make them offers. Businesses have a direct connection with customers and can offer a uniquely targeted promotion. For example, if a user searches for a new car, that user will be presented with car offers from businesses where the user’s preferences and the business’s target audience match. Users can then engage with each offer, earning CAT tokens for their time and the data they have decided to share with each business.

“We are extremely grateful for the support of our community and to everyone who participated in the presale. Our goal as a team remains: to conduct a successful crowdsale event for our community and to deliver on a project vision with the potential to redefine how online search works by prioritizing user privacy and control,” said BitClave’s founder and CEO Alex Bessonov.

BitClave recently announced the invaluable partnerships with Bancor, Qtum and Carnegie Mellon University.

To learn more about BitClave and participate in the crowdsale, please visit the website and or reach out at [email protected].

Invest.com, the leading trading and portfolio management platform has announced its plans to launch Stox, a blockchain based prediction market platform. It will be built on the recently introduced Bancor protocol and powered by Stox’ own smart token, STX.

Invest.com announced the new development in a recent press release. The company made the decision after analyzing multiple blockchain platforms. According to the release, the team responsible for selecting the suitable platform found Bancor to be the best blockchain based liquidity solution. Based on the recommendation, the company has chosen to create STX tokens, which are backed by BNT reserves.

Following the selection of Bancor as the preferred blockchain, the Chief of Product at Bancor, Eyal Hertzog said,

“We are excited to collaborate with Stox and support their effort to become a pioneer member in the Bancor network. We believe that the guaranteed liquidity and the stability of STX will benefit token holders, the Stox project at large and provide a strong case study for the Bancor protocol.”

Stox is expected to announce its token sale soon. During the token sale, the platform could allow investors to purchase STX tokens against Ether and BNT. Once the platform is launched, users will be able to buy the tokens for use on the Stox platform directly from BNT smart token using Ether. The token could also get listed on leading exchange platforms in the near future.

Compared to other platforms, Bancor protocol makes allowance for built-in price discovery and a guaranteed liquidity mechanism for tokens on smart contract blockchains. The feature will allow applications like Stox to automate the purchase process over smart tokens with ETH.

The founder of Invest.com, Ophir Gertner said,

“Stox is a transformative step in our journey, as it allows us to combine the power of blockchain with the array of infrastructure, technical, sales, and marketing assets that are currently powering invest.com.”

The company describes Stox as an open source prediction market platform that makes use of the crowd-wisdom to offer predictions for various events. The supported categories include finance, sports, politics and even weather. All transactions happening on the platform will be carried out using STX.

Bancor has already gained widespread market acceptance following the highly successful ICO. The platform’s adoption by Stox is just the beginning, and the blockchain protocol could soon witness a widespread adoption.

Ref: Press Release | Image: Stox

Initial Coin Offerings (ICOs) and crowdsales have become the new way of fundraising in the startup ecosystem. If the company or the product has got remotely anything to do with blockchain or fintech, then the chances of success are much higher. Tezos, a blockchain self-governance platform has proven it by breaking records to become the highest grossing ICO of all times.

The recently concluded Tezos crowdsale has raised over $230 million within a span of 13 days. The ICO which went live on July 1, 2017, attracted 65,645 BTC and 361,112 ETH, surpassing all the earlier records to become the most successful ICO ever. The total funds collected by Tezos is at least $80 million more than Bancor, which held the previous record by raising a total of about $150 million.

The creators of the platform call Tezos a “self-amending” cryptoledger, which entirely transfers the power to decide network-wide protocol level changes to the stakeholders. The model adopted by Tezos is expected to prevent a repeat of the issues currently being faced by Bitcoin Network and the earlier predicament that forced Ethereum to introduce a hard fork.

The platform is conceptualized by Dynamic Ledger Solutions Inc, a company founded by Arthur and Kathleen Breitman. Arthur’s education includes math, physics, and computer science. He has been intimately involved in the financial industry as well, following his stints in Goldman Sachs and Morgan Stanley. Similarly, Kathleen has been associated with the Wall Street Journal, Bridgewater Associates, Accenture, and R3.

Apart from the founders, the Tezos platform is backed by a dynamic development team with lots of experience in computer science related subjects. In addition, the advisory board includes heavyweights like Zooko Wilcox from ZCash, Emin Gun Sirer, and Andrew Miller.

The success of the ICO is dependent not only on the project and its capabilities to solve real-world problems, but also the names associated with the projects. In Tezos’ case, the project has the right combination of both, which has played a pivotal role in the successful multimillion dollar crowdsale.

Ref: Futurism | Tezos Whitepaper | Image: NewsBTC

ICOs, the most preferred way to raise funds for cryptocurrency startups have been creating records lately. The recent Bancor crowdsale established a new record after it raised over $150 million in no time. As people become more open to the new mode of fundraising, projects with the potential to offer revolutionary breakthroughs in real-world applications can expect to garner more than enough support from individuals and seasoned investors alike, but in a more informal setting.

Block.One, an enterprise blockchain solutions platform has recently announced the upcoming launch of its token sale. The token, called EOS will be made available for purchase on Monday, 26 June 2017 to the cryptocurrency and investor communities. According to the company, the EOS crowdsale is one of the most eagerly expected ICOs in the community. Taking the recent successful ICOs into consideration, Block.One believes in the EOS token sale’s potential to breach the record set by Bancor ICO to become the biggest ICO of the season.

The company, interacting with the mainstream media outlets has outlined its vision for the EOS powered blockchain platform. They look forward to widespread usage of EOS among large firms to automate processes, monitor assets and to create various decentralized applications.

The available information suggests almost a yearlong ICO, selling 90% of the total number of tokens. During the first five days, Block.One will distribute 20% of the tokens, while the remaining 70% will be distributed over the next 350 consecutive days. After the initial five days, investors will be able to purchase a maximum of 2 million tokens a day.

With 90% of the EOS tokens eventually made available to the community, the platform will hold the remaining 10% of the tokens. The Ethereum protocol based EOS, after the first five days of the token sale will be priced based on the market demand.

In the words of Brock Pierce, the co-founder of Block.One; the EOS token sale will be truly democratized, allowing everyone to have an equal opportunity and access to become part of his company’s initiative.

Ref: Reuters | Image: NewsBTC

Initial Coin Offerings (ICOs) have become the most preferred way for startups and businesses, especially the ones in cryptocurrency industry to raise the necessary funds for product development and marketing. Unlike angel and VC funding, ICOs are open to the public, allowing them to contribute as much as they wish. The community will also act as the jury and decides whether the project is fit to receive a number of funds it is seeking through the campaign.

If a project is exciting and shows a lot of potential for growth or solves some of the important real-world problems, then it won’t have an issue in raising not just the required funds but a lot more than it. Bancor, the cryptocurrency based smart contract creation platform has proven just that by raising a record amount through its recently conducted crowdsale.

The Bancor Network is backed by the Ethereum contributions received from the ICO campaign, which will add value to the smart contracts and cryptocurrency platform. The Bancor protocol uses BNT as the medium of value exchange, and these very tokens will act as the reserve currency for smart tokens that are created over the protocol. The structure allows Bancor to ensure value in each step of the process without necessarily jeopardizing the users’ funds at any moment.

The protocol also allows users to easily exchange smart tokens created on Bancor with one another using its built-in price discovery and liquidity mechanism. According to the platform’s press release, the company has witnessed a participation of over 10855 buyers who made over 15000 transactions to buy a whopping 79,323,989 Bancor Network tokens

Of the total funds raised, the platform will be allocating 40% of it for dedicated software development, 20% for creating Ethereum reserves for BNT, 12 percent for marketing and business development, 10% for seeding token changes and ETF. Also, the platform will make use of about 8% of the amount raised for operational costs and rest for other miscellaneous costs,

Bancor has presented itself as a well-thought out project capable of solving various real-world needs, which made its ICO popular in the first place. In the near future, we can expect more such initiatives to take place as the number of new blockchain projects launched on a regular basis is on the rise.

Ref: Bancor Media Release | Image: NewsBTC

Xinfin.org comes with the release of its new institutional financial market along with its pre-ICO token sale. Xinfin has been building an Ethereum derived XCD network on distributed network with all those features that real world applications and institutions can be benefited from. This is the blockchain platform that is aimed at achieving real world enterprise grade integrations. Xinfin.org has recently opened its XDC cryptocurrency pre-ICO token sale for its early backers. The XDC token is being listed on different exchanges.

One of the biggest reasons behind the investors’ interest in this pre-ICO token sale is that this system, backed by native XDC cryptotokens, leverages all the benefits of cryptocurrency systems through integration of smart contracts among investors, sellers and buyers (customers). Cross border settlements and XDC based negotiations have also been promoted in this platform. The upcoming CDX pre-ICO token sale that is open to all interested investors is the part of platform’s development roadmap, where investors would be able to purchase many Xchange Infinite Development Agreement (XDC) tokens.

Investors hold huge expectations from XinFin Blockchain Marketplace

XinFin claims to bring various benefits associated with blockchain technology that its marketplace is leveraged upon. These include:

  • Provision of instant cross border settlement platform via native token XDC
  • Mapping smart contracts to the real-world contracts
  • Using XDC as an incentive to financiers to contribute towards projects
  • Serving as equity exchange over XDC for fundraising of projects

 

Alex Mathbeck says…

Alex Mathbeck, heading the XinFin’s Marketing, highlights the huge target market of the platform including hospitals seeking machinery acquisition, low income states who want to leverage upon their tourism, counties that are in need of farming equipment & cost effective tools to build infrastructure, and farming institutions that need e-learning and training for hedging external risks.

In response to one of the questions, Mathbeck also justifies the decision to run XDC on its own private distributed network, pointing towards the high latency time of public blockchains that delays real-time payments. He highlights 5 seconds time taken to complete any transaction on XinFin XDC network. The architecture has been derived from Ethereum open source platform but it fully independent of gas and ether. The company is releasing open APIs to use XDC as a payment and settlement mechanism for reward points, global remittances and trading of idle inventories.

XinFin on its way to bridge the global infrastructure financing gap…

XinFin.org aims to fill the global infrastructure financing gap of $5 trillion that is escalating disparity between the rich and the poor. Unlike traditional fiat currency financing platforms, XinFin also takes into an account viable projects having low buyer and selling ratings. Xinfin’s decentralized blockchain based market place is equally open to individuals along with businesses, who want to identify and start projects, are seeking crowd sourcing for support and interested in executing trade and finance over xinfin’s network.

What’s coming after XinFin’s Pre-ICO sale?

 The Biggest ICO is opening soon…

It is to be noted that XDC pre-ICO sale is for limited time period or till the target funds achieved. The pre-ICO is offering limited number of tokens at around 50 percent discount over the actual ICO Price that is going to be opened in July/August. This is set to be the market’s biggest ICO so far, having based on actual transactions with real world institutions.

At present, investors are keenly looking forward to XDC cryptocurrency pre-ICO token sale due to huge discounts. If you too want to buy token through XDC wallet , follow the instructions at http://www.xinfin.org/get_xdc/