How Papyrus Global Promises to Disrupt the Traditional Online Advertising Landscape
Digital advertising, the fastest growing marketing channel with its $223 billion, has been essential in the way we consume goods and services. However, in its current state, the online advertising ecosystem is unproductive, disorganized and opaque. In fact, it has been referred to as the “most inefficient” industry in the world. The current market for digital advertising was innovative for the needs of the early Internet, but not anymore. Market conditions and trends change quickly, digital advertising needs are growing in complexity, yet their structures are inherently outdated and incapable of any magnitude of reform. As advertising is the blood and fuel of the Internet economy, it is ripe for a blockchain revolution.
The telegram bot https://t.co/PbqfD6HJ2z rewards you with tokens for friends invited to our community! You'll get 10 tokens for every invited friend who joins our telegram chat https://t.co/Txl7j3V9JI, you'll get 2 more for every group member invited by the person you invited!
— Papyrus (@papyrus_global) March 12, 2018
Blockchain technology, with its decentralization and security, is rapidly changing the way applications are built and function on the Internet. The novel technology is rectifying the ineptitudes of traditional online marketing by offering effective data management, improved targeting precision across websites and other platforms, elimination of intermediaries and fraud prevention in the advertising and publishing businesseses.
Papyrus Global is on its way to becoming the revolutionary platform which can drastically transform the world of online advertising, improve targeting precision, manage data and redefine the digital advertising marketplace. It is the world’s first fully comprehensive and highly scalable decentralized platform for digital advertising built on top of Ethereum blockchain and smart contracts. It radically improves programmatic advertising stack to provide an efficient, transparent and mutually beneficial environment for users, publishers, advertisers and decentralized application (dApp) developers using blockchain architecture. Papyrus Global will ensure transparency, which is based on a reputation-system for all market players, incentivize auditors to check for fraudulence.
Papyrus Global has been developed and is managed by a team of experts with strong backgrounds in building and scaling successful business processes in both advertising and blockchain technologies.
“Our vision is to disrupt the current online advertising landscape, which, in its current form, is riddled with inefficiencies,” said Igor Alferov CEO of Papyrus. “Papyrus endeavors to transform online advertising into a highly transparent, consistent and lucrative domain for all the participants in the advertising value chain. While Papyrus is a disruptive platform, it will make the transition as smooth as possible for existing publishers and advertisers by enabling interconnectivity between decentralized applications and traditional advertising.”
Inefficiencies of Traditional Online Advertising
The biggest challenge before traditional digital advertising is fighting all the fraudulent practices that thrive in the advertising ecosystem. To fight these fraudulent practices, advertisers are forced to use multiple third-party measurement, analytics and verification tools. According to Juniper Research, this costs advertisers about $51 million per day and is estimated to cost $19 billion in 2018.
While fraudulence constitutes the major challenge to online advertising, there are various other challenges and inefficiencies as well:
- Users are growing increasingly antipathetic to digital ads which are often irrelevant, abusive, and annoying. Furthermore, users don’t have the power to moderate which ads they would like to see and how often.
- Privacy is highly compromised with online advertising as there is a dangerous tendency towards the indiscriminate collection and use of user data. At its worst, this practice also leads to collection of credit and insurance scoring and unwanted direct phone calls, all without the user’s consent or compensation.
- It is becoming incredibly difficult for marketers and advertisers to gauge exactly which aspects of a digital ad trigger user action.
While these are some of the primary challenges faced by traditional advertising, there are a host of other issues as well. Furthermore, none of them can be solved by the centralized architecture used by current advertising platforms because all parties in the advertising value chain are continuously looking for new technical tricks to gain competitive advantage at the expense of other players. These issues can only be solved by the introduction of a new, decentralized architecture common to all parties in the digital advertising world that will naturally balance the needs and goals of all parties involved.
Papyrus Global’s Platform Rectifies these Inefficiencies. The innovative platform offers to
- Enable precise audience targeting while preserving the user’s privacy and sensitive data.
- Provide user compensation for volunteering to share personal data.
- Drastically reduce fraudulent practices with the introduction of a value-based reputation system.
- Use blockchain smart contracts to eliminate transactional bureaucracy, corresponding offline paperwork and the need for traditional bookkeeping.
- Incentivize developers to produce efficient applications for practical purposes.
- Incentivize auditors to facilitate swift dispute resolution and prevent fraudulent practices from taking root.
Papyrus Global’s Minimum Viable Product (MVP)
Papyrus Global has launched its MVP which uses a blockchain architecture and smart contracts to facilitate transparency and reliability in the purchase of advertising inventory. The MVP comprises 3 primary parts — Papyrus Advertiser Account and Demand-Side Platform (DSP) backend, Papyrus Publisher Account and Supply-Side Platform (SSP) backend, and Papyrus Viewability Verifier.
The Papyrus Advertiser Account allows advertisers or agencies to create an ad campaign and verify its efficiency. Each ad campaign is supplemented with a smart contract incorporating intermediaries and commercial conditions for service provision, including budget, parameters, settings, and the payment rules as determined by the auditors. This enables the advertiser to view all commissions paid transparently and flag fraud and violations.
The Papyrus Publisher Account is meant for the publishers to gauge their websites and ad slots and insert ad units. Publishers can use the interface to analyze commissions, streams, and violations, thus allowing them to make optimal adjustments after performance analysis.
The Papyrus Viewability Verifier allows auditors to detect violations, fraudulence, poor user viewability, breaches of brand safety, and noncompliance with publishers’ policies regarding advertised content. Auditors are chosen by both the advertisers and the publishers, and as such they must establish a strong reputation for themselves
These complementary components dynamically balance the interests of users, publishers, advertisers, and developers for smooth, accelerated and economically viable progress towards new and more efficient advertising products.
Papyrus Global’s solution
For more information, please visit www.papyrus.global.