Blockchain can provide a solution for multiple business challenges, including those facing the advertising industry. And so we have one such project — called NOIZ Chain — in development, looking to help brands reach targeted audiences, and the general public get better experiences. Along the way, NOIZ Chain also aims to tackle ad industry’s massive $19 billion fraud problem, representing 9 percent of the total spending on digital advertising for 2018. At the same time, the company hopes to stop consumers from being bombarded with irrelevant ads at inappropriate times.
An AI-powered system
NOIZ Chain is the forthcoming ad exchange network combining an artificial intelligence (AI) system with blockchain technology to solve the “ad conundrum.” It says that the set of problems include privacy related issues as discovered in the Cambridge Analytica scandal, as well as bots that are wasting the brands’ advertising dollars on fake clicks.
NOIZ’s solution comes in the form of so called “cognitive banners” — such as smart chat ads — that aim to increase user engagement and provide advertisers with meaningful data on the performance of their campaigns. The technology, named “Nikola”, will see consumers receiving NOIZ tokens when they interact with an ad, with the ability to use these tokens to obtain discounts on products and services. Additionally, the same NOIZ tokens grant the opportunity for token holders to support charitable foundations, thus facilitating social impact.
“It is high time that the ad exchange network evolves in this digital era.” Andy Ann, NOIZ’s founder, told Cointelegraph. “With the growing concern for protection of privacy, the billions of dollars wasted due to ad fraud, and publishers’ concerns over data leaks and cartelling in selling out ad inventory, the NOIZ ad exchange offers a one-stop solution to resolve all these issues.”
Tackling the fake news problem
Beyond brands and end-users, NOIZ will also be “dealing” with publishers, trying to tackle the fake news problem which has gripped the Internet in recent years. In that sense, the platform’s community will be the one voting against advertisers with questionable business practices, and publishers who post fabricated stories and/or plagiarized content.
NOIZ hopes that this all-enticing approach will make all parties accountable for their actions, ultimately helping all of them along the way.
“We believe this will be the only way to build a robust advertising model for true engagement now and in the long-term,” Mr. Ann added.
As we have briefly noted above, NOIZ envisions a setup in which consumers are rewarded for sharing their data with the brands and publishers they trust. This way they get to benefit from being exposed to more relevant ads, while advertisers get to target customers who actually care about their products and services.
The company claims its cognitive ad network uses AI technology that has managed to generate 30 times more engagement, which in turn has created a boost in revenue for publishers.
ICO is set for Q3 2018
The NOIZ team is working to unveil the platform prototype that has been in development over the past two years.
Potential investors are invited to join a whitelist ahead of the NOIZ token sale in the third quarter of 2018. After that, the company plans to launch its cognitive ad technology (by the end of the year), with ad trading between publishers and businesses coming at the start of 2019. Other features — such as a consumer wallet, consensus voting and the ability to support charities with NOIZ tokens — will follow thereafter.