In the past few years, private data leakage has become a significantly increasing problem. NOIZ wants to establish a transparent ad space, where consumers will have the control. This type of advertising model will protect the consumers from malignant advertisers and publishers, but also empower genuine advertisers. In an effort to achieve this, the engineers at NOIZ have built an AI-enabled, decentralized ad network. It is planned to be fully operable by the end of 2019 and revolutionize the way we look at brand-consumer relations.
Do We Need NOIZChain?
The recent Facebook privacy scandal saw profiles of nearly 50 million people stolen. Their private data was used to further marketing interests and goals and make companies even more money. One of the main purposes of NOIZ is to change the advertising ecosystem by building up consumer awareness. The current state of advertising is damaging to all parties involved in the following ways:
- Consumers – are losing control of their information privacy and are subjected to irrelevant and annoying ads, that don’t do anyone any good. They are also silenced since they don’t have any significant channels through which they can speak out for or against advertisers.
- Advertisers – are not in control where their ads end up, which can lead to them potentially being banned from advertising platforms. They also can’t trust the data they receive, since most of it is inflated by spambotclicks, views and impressions.
- Publishers – are losing advertisers and are reluctant to share unreliable data about customers. Because of this, they are often dropped by centralized ad exchanges if their audience numbers aren’t up to standards of the ad exchange algorithms.
Their plan is to solve these problems by creating a consensus-based advertising ecosystem that rewards genuine advertisers and publishers but also holds them accountable for their practices and actions. The NOIZ decentralized ad platform will allow the community to be the driving force of the advertising ecosystem.
Unlike the current, traditional ad exchanges and networks, which are centralized digital marketplaces that work through real-time bidding algorithms, NOIZ will allow advertisers to buy ad inventories directly from publishers. This will result in better transparency and greater control of data.
How Will NOIZ Work?
From the project’s whitepaper, we know that the NOIZ v2.0 is set to go live in the 4th quarter of 2019. But, how will it even work? In short, all smart contracts will be generated on the Ethereum blockchain. All data transactions, as well as smart contracts, will run on NOIZ’s own ledger. This network will be built to protect user’s privacy and confidential information. Like Ethereum, it will also be able to support vast community-powered moderation, without having to pay the price of data transactions. This all sounds good, but what does it mean for users? Well, having a network setup like this will enable NOIZ to push gigabytes of transactional information between users all over the world, in intervals of just a few seconds. NOIZ will also constantly modulate the network, in order to make it sustainable and in-touch with the ever-changing scene.
Important Features of NOIZ:
- P2P Advertising Marketplace – Advertisers and publishers will be able to connect directly and make advertising agreements powered by a smart contract.
- P2P Consumer Marketplace – Consumers will be in full control of their data. They will be able to decide which data they want to share and with whom.
- Consensus-based – Publishers and advertisers will be moderated by user consensus, thus keeping malicious products out of the network.
Besides running on the Ethereum network, NOIZ will also be simultaneously running on a second blockchain—the NOIZ network. This will allow it to run comparably faster than other smart contract based blockchain platforms, due to the greater number of algorithms supporting it. A cross-communication channel will exist between the two blockchain systems.
Each new party that joins the NOIZ network will receive their own NOIZ ERC20 wallet, which will also serve as a verification method on the platform. Users will be recognized and tracked by their wallet ID’s, which means that only registered users will be able to conduct transactions. Of course, this doesn’t mean that each wallet will only serve one exclusive purpose. NOIZ says that any wallet will be able to play multiple roles in the NOIZ ecosystem. The three aforementioned parties will all enjoy multiple opportunities and benefits. For example, consumers will be able to use the wallet to accept data requests from publishers and advertisers in return for tokens. In the same breath, advertisers and publishers will use the wallet and NOIZ tokens to create new advertisements or data collection campaigns.
There will be a total of 400 million NOIZ tokes issued and will be accordingly distributed amongst charitable foundations, team members, advisors, reserves, bounty and of course, the token sale. A total of 180 million NOIZ tokens will be distributed during the token sale, equal to 45% of the entire sum.
NOIZ will enable both advertisers and publishers to maximize their ROI, by eliminating malicious and fraud traffic. It will also receive revenue streams through advertisers for each campaign ad that is created and will feature a monthly subscription fee (sometime in the near future).
Team Behind NOIZ
The NOIZ founding team consists of a core group of 11 industry experts, which have a combined experience of more than a hundred years in digital technology, media and design. The chief executive officer, Andy Ann, is actively involved in multiple Silicon Valley-based businesses, most notably Google EYE. Their team also actively cooperates with experienced industry advisors from all over the world, including Alan Rutherford, the founder of ‘the Network’, and Alvin Foo, a mobile media executive and a powerhouse entrepreneur in the Asia Pacific.