Deviating from the traditional belief system, regular media is still in existence. It goes as far as topping computerized advertisement when it comes down to the utilization of budget. Moreover, in the universal context, billboards and TV ads are still powerful channels.
Furthermore, regular media is plagued with issues. Fraudulent activities are steady in countries that are developed. Intermediaries also make procedures complex, and there is a deficient in clarity.
However, there is a company created to tackle this issue. It is none other than Adbit. It was established in the year 2018 by Aaron Monks.
Core Business of Adbit
Generally, the company is an advancing marketplace. Adbit will enable the purchase of media to be secure, swift, and clear for everyone involved. This can be achieved by making use of smart contracts.
In addition to smart contracts, Blockchain technology also comes into play. Smart contracts and Blockchain are vital for such an industry. This is because the industry vastly utilizes excel spreadsheets.
Asides the excel spreadsheet, the industry still makes use of outdated innovations to hasten transactions. However, Adbit will be leveraging this technology to aid the manual procedure plaguing the industry.
Universally, media is traded amongst three key parties. They include;
Even more, Adbit will link buyers with sellers on a protected marketplace. This is done with real transaction information, real demands, and clear pricing. The audience information calls the shot for the price of the commodity.
This information is supplied through centralized intermediaries like;
- Nielson, and so on
The Adbit media platform will allow traders, buyers, and third parties to gain easy access through Adbit token. This token an ERC20 utility tool.
Its purpose is for powering the media inventory of Adbit and allowing decentralized, reliable media system. In utilizing the Adbit media, agencies, buyers and sellers will be able to create a bridge between fiat currencies and other Cryptocurrencies.
Services Offered by Adbit
The issues plaguing the media such as Centralization and ineffectiveness can be tough. This has led to the debut of a Blockchain solution for purchasing media. According to Aaron Monk, media strategy and purchasing should be private.
Outdated practices are automated. Hence, Adbit will be offering the traders and buyers a trustworthy exchange to execute transactions seamlessly.
Another issue in the industry is that roughly 30% of the advert inventory can go to waste yearly. This occurs due to ineffectiveness in the placements. Once again, with Adbit, both media owners and traders will interact straight up.
This will in turn aid in enhancing sales and boosting effectiveness. Along with Adbit, media exchange is a string information collection instrument. It will provide real metrics for ad operations.
Additionally, this will also aid in fighting the clarity and tracking of purchasing media.
Adbit has successfully created a fascinating product to be used in decentralizing and optimizing the regular media trading industry. It offers resolutions that will aid in linking buyers and sellers, enhancing clarity and providing data analytics.
With Adbit’s procurement of CIINCH and proposed operations, they will be capable of growing a powerful Blockchain media system.
Interested in other blockchain or crypto-based companies? Visit our companies page for more information.