JoorsChain’s Next Generation Blockchain Ready to Disrupt Digital Advertising
Switzerland based blockchain firm JoorsChain AG is ready to transform the digital advertising industry, which sees trade worth over 200 billion USD each year. JoorsChain aims to do this by creating an entirely new advertising ecosystem on its next generation blockchain. By creating a blockchain powered advertising platform, JoorsChain will make the industry more transparent and cost-effective.
This is ever more important in an industry which has seen inefficiency and fraud lead to companies losing over 50% of the money invested in digital content. While the digital advertising industry is expected to be worth 335 billion USD in 2020, this figure can be far greater if blockchain technology with a decentralised, secure system of ledgers is leveraged to optimise content delivery and creation. JoorsChain is well placed to transform this industry with supporting partners with a team of 1,300 employees distributed across 20 countries.
Established companies involved with online and mobile advertising have given their support to the JoorsChain project and will provide the blockchain platform with access to their large customer bases. JoorsChain has created a Real Time Bidding (RTB) marketplace which will allow advertisers to access hundreds of millions of unique users- with the project’s initial partners alone giving JoorsChain access to around 150 operators. This will allow JoorsChain to reach over 50 million users a day and target over 200 countries. These companies include a NASDAQ listed company TalkPool, Swedish mobile advertising pioneer Joors, the ad-exchange platform Wiget Media and the mobile marketing company Starfish Mobile. New investors are constantly coming on board, with Moss Investment joining the JoorsChain community just a week ago.
The JoorsChain advertising network will run as dApps and sub-blockchains for transaction intensive operations. It will use the JoorsChain Initial Coin (JIC) as token, for establishing a proof of identity, settling smart contract agreements and distribute user incentives. Until JoorsChain creates its own JIC, an ERC20 token has been issued on the Ethereum blockchain. This will also be called JIC and will be exchangeable for real JICs once they have been issued.
The JoorsChain wallet and initial application for the JoorsChain advertising ecosystem are scheduled to be released in the third quarter of 2018. This will give JoorsChain the first mover advantage in decentralising online advertising marketplaces and create a decentralised, RTB compatible marketplace which gives dividends to all stakeholders such as Advertisers and users.
Advertisers can be assured of full transparency and can therefore invest freely in the marketplace. Publishers have an easier time connecting content with users for whom it is most relevant. Meanwhile, users are incentivised by receiving a portion of the advertiser’s investment in an electronic wallet which will be integrated with mobile operators and will allow users to purchase credit for their phones and pay for a range of services. The JoorsChain blockchain is to consist of nodes which validate any transactions on the network. For contributing processing power to the system, the nodes (aptly named Validators) will earn JIC tokens which will consist of a small percentage of each transaction validated.
JoorsChain releases a new website end of June with many interesting updates such as the status of investments and the operational roadmap, it can be found at www.joorschain.io. You can follow and engage with the JoorsChain by following them on Twitter and joining their Telegram group. Like their Facebook page to stay up to date on the latest news concerning the project and check out their testnet on GitHub!