UC Implications of BAT and Blockstack Relative to Global Marketing Discussion

 

Type your initial post and peer replies in this Discussion Forum based on the assigned readings for the week. The initial post should contain a minimum of 600 words and it should be submitted no later than Wednesday before 11:59 pm EST. Also, two peer replies should contain a minimum of 200 words each and should be submitted no later than Friday before 11:59 pm EST.

I will extend the time limit once the initial post is completed.

Your readings this week will help you better understand Blockchain Technology and prepare you to engage in this second Module’s discussion and assignments. Be sure to read the peer reviewed articles carefully and view the YouTube videos prior to starting your weekly discussion engagement, accomplish, and reflection.

Read:

• What is Basic Attention Token? https://cryptodisrupt.com/what-is-basic-attention-token/?cn-reloaded=1
• Blockstack Launches Decentralized Applications Store https://news.bitcoin.com/blockstack-launches-decentralized-applications-store/
• The Commoditization Of AI And The Long-Term Value Of Data https://www.forbes.com/sites/forbestechcouncil/2017/04/10/the-commoditization-of-ai-and-the-long-term-value-of-data/#4003ae2e159c

Watch:

• YouTube: Basic Attention Token

ohttp://www.youtube.com/watch?v=mH5SjV7pxzI

• YouTube: Blockstart – A New Internet for Decentralized Apps

ohttp://www.youtube.com/watch?v=7SmC7AuZNWY

oYouTube: Data is the New Gold, who are the New Theives?

ohttp://www.youtube.com/watch?v=XNF-rGiGb50

Student post 1: Jeevan

 

One of the major challenges that digital marketing facing today is failing to grab attention and trust from their valued customers. Most of the company’s revenue goes towards digital marketing, where publishers post the ads about their goods and services on the digital platforms hoping that the user pays attention and buys the product. On the other side of the coin, customers are very sceptical about clicking the ads and most of the mobile and web applications support ad blockers that prevent ads from even facing the real user. The other most important crisis is identifying the genuine or a real customer, as the publisher is not aware of the origin for the traffic and the anonymity of the users make business to distinguish the real customer and the bot leading to unresolved issues like security, privacy and click fraud.

BAT (Basic attention token) is a fair attempt to overcome challenges faced in digital marketing. BAT is a token based rewarding method where the publishers are rewarded for the content and the customer is rewarded for paying attention or creating impression to their ads. The rewarded tokens are deposited into the user’s digital wallet and can be considered as a normal currency. To examine whether ad viewers are absolutely seeing and tasty with ad content material, BAT has constructed their very own Internet browser called Brave. It is already gaining popularity as a browser that respects the security and privacy of its users personal data (Schirr).  BAT will create a direct connection between the publisher and the customer. With the no involvement of middlemen, customers tend to experience less fraud than the traditional digital marketing methods.  On the other hand, publishers can relatively minimize their spending by establishing the direct communication with their targeted audience. This approach is a win win for both the publisher and the customer. Additionally, The highest priority for Brave is its user privacy and security. Brave works on an open source, zero-knowledge-proof scheme that continuously blocks the user’s data collection and tracking. Rather than being shared with advertisers or domains, personal information is stored locally and processed via browser-primarily based machine learning knowledge of in advert catalogs that tailor advert experience based on the user’s previous behavior and interests (Blockescence, 2019).

 

To conclude, Brave, Basic attention token has the ability to change the way we experience advertisements and digital marketing, which was the major use case of cryptocurrencies. Yet to see this gigantic change in the marketing sector. It might still take a lot of struggle in making BAT a very robust cryptocurrency.

 

Student post 2:  Santosh

 

The use of a Basic Attention Token (BAT) in a blockchain space could be considered as a blockchain-based solution in many countries. A typical example is that the BAT token could provide token holders in a blockchain space access to a global list of businesses that sell products and services, including goods and services, including goods, services, and e-books. The BAT token would also have the liquidity to those who own them in the global market and exchange them in fiat value. The BAT token could also participate in an international market, making it a global utility (Forssman & Wass, 2018). The price of the BAT can be pegged to the price of the BAT token. This means that a BAT holder in the currency would have access to similar goods or services in the bitcoin or other cryptocurrency marketplaces as other holders or purchasers would. The BAT token could also help mitigate in many ways of price inflation because the BAT token could replace the fiat currency as the world’s fiat currency. The utility of the BAT could include making a blockchain/blockchain solution available in an area. This would be a potential application of a BAT in the global blockchain space (Mohindru et al., 2019).

In this scenario, the BAT can also help with digital commerce. Users can purchase and use goods, services, and goods/services as a part of the BAT transaction(S). The BAT in the BAT transaction could then be a way to obtain goods or services from those who own them in the blockchain space and help those in the blockchain space who currently cannot purchase goods or services online. BAT could also play a key role in securing the blockchain space. As its tokens can be transferred to and exchanged with other people’s tokens, its tokens might serve as a means of settling a dispute between a party and another person (Mohindru et al., 2019). This might provide a better means of exchanging assets or services. The BAT could also hold up to the BAT token security as part of the transaction and could help with transactions that involve large volumes of items. The Basic Attention Token will enable Blockchain companies to deploy their businesses on a decentralized and highly scalable platform, while Blockchain companies can deploy their businesses globally. Blockchain companies will also benefit from BAT, as their operations and the activities they perform will be more scalable via BAT than the global platform is on the BAT (Forssman & Wass, 2018).

Further, BAT also allows Blockchain companies to expand their market presence in additional countries, enabling them to grow their businesses globally even as they grow their national economies. BAT and Blockstack will operate as a distributed solution for all kinds of global advertising. BAT and Blockstack are distributed worldwide as distributed tokens as described in the Ethereum whitepaper and block description (Forssman & Wass, 2018).Blockstack will be distributed in all major regions, but if they invest directly into the BAT Network, it will be rewarded for the BAT the own as the BAT market price rises. On the one hand, the impact of BAT on global marketing has been relatively low. On the other hand, BAT makes necessary attention tokens (BAT) and Blockstack more valuable since we can see if we have a better understanding of a customer’s engagement level. On the other hand, BAT and Blockstack make user-supplied data for Blockchain technology more valuable (Mohindru et al., 2019).