The Brave internet browser has changed the way people around the world use the Internet by making made browsing faster and safer in addition to integrating Bitcoin’s peer-to-peer value to many new users and new wallets. Now, Brave takes another step into changing the online Internet experience by creating a new ad platform using a new digital token based on Ethereum technology.
Brave is very focused on improving the online experience, and this new token-based system called BAT (Basic Attention Token) has multiple benefits for users, advertisers, and online publishers. Integrating BAT with blockchain technology ensures user anonymity and fairness while using Ethereum gives them experienced support from a market leader in smart contract technology.
This is the second major partnership for Ethereum in as many months, following their announcement of the Enterprise Ethereum Alliance in New York a few weeks ago. Fortune 100 corporations like Intel, Microsoft, and J.P. Morgan have agreed to use Ethereum to expand their fintech and smart contract aspirations through Ethereum’s platform.
Brave CEO Brendan Eich told Bitcoinist:
We need the smart contract support in Ethereum…Smart contracts to implement tokens are proven there, with lots of precedents. Bitcoin does not support smart contracts. We used ETH since that is where the token launches and predicate smart contract work needed for them has been done.
Users will opt-in to receive advertising. If they do, their attention will be privately monitored on-device in the Brave browser, without tracking. Publishers will be rewarded accordingly with BATs, which are tokens of exchange in a secure, private, and anonymous advertising system based on the browser and the mobile app web view.
Users will also get a share of BATs for participating. BAT keeps the data on the device, encrypts the data, and shields the identities of Brave’s users.
BAT BRINGS EVERYONE VALUE
The BAT token helps serve each user in the model in different ways. For the online user, they get enhanced privacy and security when introduced to an ad. The ads are more relevant and they get BAT tokens.
Advertisers get more targeted ads, higher revenue and less fraud in the ad system. Online publishers enjoy less expensive customer attention, less fraud, and better attribution.
You can see the BAT whitepaper here. Brave will be offering a BAT crowd sale in the near future and will have a scheduled roll-out for the new platform in three phases throughout 2017. For notifications of these Brave updates, head to their dedicated BAT token website.
How will Brave’s BAT project affect the future of online advertising? Let us know what you think below.
Images courtesy of Brave, Basic Attention Token, AdobeStock