Enabling distribution of power and control, Blockchain breaks down the extended monopoly and central concentration of power and resources in traditional systems, while serving as a true symbol of decentralization and digital democracy. Today, the ability to apply the basic principles of blockchain in existing industries, especially by combining them with other modern technologies, is redefining how everyday processes are being carried out.
During the last decade Google and Facebook have been playing the ‘Big Brother’ role, functioning as centers of control, especially when it comes to digital advertising industry, reserving all the power to oversee the value that advertisers get without permission.
Sometimes, people unconsciously assume that these major platforms are doing them favors and don’t realize that things are actually supposed to be the other way around: people own the resources and should be allowed to exert their control and benefit from what is called their own.
By combining Ethereum smart contract and Game theory-based AI, startup 2Key is revolutionizing the advertising industry, providing the opportunity for everyday users to benefit from their efforts and data shared. The platform’s revenue program, referred to as ‘2key New Economics’ offers a simple democratic approach to referral marketing, enabling zero entry barriers for everyone, who is eager to share referrals and get rewarded in-line with the value generated.
This innovation represents the first purely online seamless referral marketing solution, designed to allow the 5 million SMBs and 23 million freelancers operating in the US alone to grow more easily, while enabling advertisers, who previously have had no choice, but to submit to the non-transparent models of the advertising companies, to define and pay the exact value for the hits and conversions of their ads, passing the days of blind trading through.
How It Works
This solution made possible owing to the project’s GRN (Global Referral Network) technology, which enables a sharing network where people would share with their friends, who share with their friends, and so on until the goal of a given campaign is reached. In such a way, content is broadcast via sharing of a direct link, which, whenever results in a conversion event, e.g. consumption of content, acquisition of products or services, brings the user reward automatically. This became possible via embedding simple web-links with multi-step tracking and smart contracts, which track and record every person sharing referrals. In such a way, if the post shared by a user makes a positive impact, he will be rewarded accordingly. On the other hand, if the shared content doesn’t make any positive effect, this reduces user’s “points” negatively affecting reputation of his profile on the platform.
Therefore, the introduction of this rating and incentivizing systems serves as motivational element for high-quality content creation and sharing, which additionally contributes to audience’s active participation.
The New Order
The fact that audience is now provided with the opportunity to hold stakes within the industry represents a whole new dimension to ad sharing. This is one of the fundamental attributes of blockchain incentivized technology, the essence of digital democratization and power decentralization.
This said, the long-awaited “sanitization” of the advertising industry, where unpermitted pop-ups and spam messages constantly ruined internet users’ experience, is finally accomplished. Irrelevant content will naturally leave the scene as no user will want to be so irresponsible so as to promote such, losing rating as a result.
The 2Key project is a robust package that will not only democratize the industry and return power to the people, the system will also empower regular users, providing revenue and standardizing content sharing ecosystem as a whole.