Digital advertising provider tribeOS released a new demo video on Wednesday, highlighting how the platform will use Bitcoin Cash (BCH) to provide transparency for its advertising marketplace.
The Bermuda-based company, founded in 2017, aims to provide a fairer and more efficient advertising system that benefits both advertisers and publishers.
tribeOS has implemented Bitcoin Cash to provide full transparency and immutability in its marketplace to help combat ad fraud — something the company claims is lacking in the advertising market today. Indeed, an estimation from Juniper Research suggests advertisers will have lost $51 million per day to ad fraud in 2018 alone.
Co-founder and CEO Matt Gallant described in a press release on Wednesday how the demo video “provides real world evidence of what digital advertisers and publishers can expect.” He continued:
“12 different security protocols to stop ad scammers in their tracks? Who else does that? As someone who has lost millions to ad fraud crime, it’s time for a next generation, 100% transparent advertising marketplace built on blockchain. And that’s exactly how tribeOS will forever change how digital advertising is conducted online.”
For publishers, tribeOS will give back 88% of all ad revenue from their websites and content. This is significantly more than publishers can expect to receive from current platforms — Google, for example, take a 32% cut out of the actual amount paid by advertisers for its AdSense program.
The services tribeOS provides will allegedly work everywhere; any browser, mobile, and web platform. This sets the company apart from its closest competitor, Brave, who are aiming to achieve similar with the Basic Attention Token (BAT), which is limited to the Brave browser alone.
Funded by Bitmain
tribeOS was funded by Bitmain Technologies in August 2018, when they received a $3 million investment from the mining giant. It is no surprise, then, that the team is such a big fan of the Bitcoin Cash ecosystem.
Perhaps off the back of this news, Bitcoin Cash has rocketed in price in the last few days, currently trading at over 40% higher than the previous 24h period; $280 at the time of writing.