Brave and its Brave browser and the basic attention token (BAT) creates a new token of exchange for user attention.
The CEO of Brave is Brendan Eich. He has a long track record in the technology space. He created Java Script and helped build Netscape. He’s also the guy behind the Mozilla Project and the Firefox browser.
Recently he gave a talk in from of 400 Facebooks execs about Brave. You can find video and my commentary below.
The idea came about for Brave brower because Eich believes browsing is currently broken.
It’s slow because adds can add up to 5 seconds on downloads. It’s invasive as popular media sites use up to 70 trackers to record your activity. It’s expensive, with $23 of every cell phone bill going towards the bandwidth for ads. It’s insecure, malware and ransomware grew 132% in 2016. And it’s complex as websites use multiple extensions.
Eich believes digital advertising is broken as well.
There’s been an estimated $17 billion in digital advertising fraud in 2017 alone.
It’s also complex, with too many middleman. Check out the chart below which shows all the layers between advertisers and marketers.
According to Eich digital advertising also suffers from poor reporting and attribution.
Add it all up and browsing and digital advertising are industries ripe for change.
Eich believes his ideas can solve those problems. The first step is the Brave browser. Next up will be a decentralized ad exchange, or DAX.
The DAX will run on BAT and can provide highly accurate usage data without invading privacy.
Users will be able to earn BAT by viewing ads, which they can use toward publisher’s content. Publishers will be able to use BAT to pay for advertising and reward users.
The grand vision is that ad-blockers will be a thing of the past.
I like BAT long-term, especially with Brendan Eich at the helm. But definitely not one for immediate gains.
What do you think of BAT?
For more on cryptos follow me @g-dubs and on SteemFollower
Thank you for the update @g-dubs.
I have been watching BAT for some time now, and it seems that they are one of the best crypto projects out there. They have a very good balance of technical development, business development, and PR.
Yet, I am little shocked about this news. How come BAT's CEO is presenting at Facebook? Arent they the enemy? And how come facebook invited him?
I think slow connection, bad hardware and poor browser is a nightmare.
I tried Brave browser myself and I have to say that it introduces a new quality.
Great post thank's for share it with us , I have followed you !
Thanks!
very different one indeed!!!!
bat...man
Lol
Upvoted and RESTEEMED :)
Thanks!
@g-dubs great post. just upvoted! Did you notice the post I wrote about you and 10 other persons this morning? Here it is: https://steemit.com/steemit/@gold84/10-great-persons-adding-value-to-steemit
Thanks for the shout out!
yes I am invested in Bat; I'm thinking the name keeps some people at bay as it's kind of awkward. Unfortunately I bought Bat at the all time high, but I did get more when it went very low.
this is amazing!!!!!!!
g-dubs, thanks for sharing!
I'm long BAT, even if it goes to 0 I'm OK having invested in it. As someone who's been a publisher for years now, this is a real problem and this is a real attempt to solve it by a real team with real experience.
Plus, they have tech out, unlike most coins. Brave browser is wonderful. Hadn't seen this talk @g-dubs, thanks for sharing :)
Thanks for sharing. I saw a talk given by P&G CMO Marc Pritchard in Feb where he basically called out FB and GOOG and the digital advertising industry. That's what put me onto the trend. P&G the largest advertiser in the US by the way.
Yes, it's broken from all ends. Publishers like me give up a ton in site speed, UX for our readers, and payouts to run the ads. I slow down 225,000 visitors a month simply because I can't afford to give up $2,000 in monthly income I make on display ads. Believe me, I would KILL to turn them off and have my site be a smooth running beast. But I can't. With BAT though...just maybe :)
~ Kevin
Wow. Thanks for sharing!
I'm a fan of BAT, hold some tokens although not many (did make 3-4x on it already though!) and can't wait for the browser to start paying out in BAT - I will definitely be using it when it does!
You can actually start using it already. I checked it out, it's pretty good.
Not trying to hate on BAT, but I dont think I understand it.
Doesn't the whole idea hinge on people being willing to watch ads for coins, instead of just disabling them with an ad-blocker? I think that might be rather unlikely. There are already websites where people can watch ads for money, but none of them seem to have gained much traction.
I dont see the coins earned being enough to recoup the "$23 of every cell phone bill going towards the bandwidth for ads". How does BAT reduce this if its about showing people ads?
Does the brave browser / chrome extension disable the current style of ads? How does it help make them more secure? Wouldnt any way to do that involve getting all the ads to use BAT for marketing?
That seems rather ambitious and I dont see many big marketers being willing to take the plunge into a using a (currently) obscure product like BAT rather than sticking with a long proven product like google adsense.
The idea is that if there's a better browsing experience and a better way for advertisers to target and measure their audience then consumers and advertisers would be willing to switch to a different product. They don't expect users to make big profits from earning tokens, but rather put it back into publishers they like.
You're right though it may never pan out. My investment in BAT is a small speculation.
I am a huge fan. Started using the Brave browser a while back and signed up to get updates about BAT. It is exciting. I want to get as much of my life into the decentralized, non monopolistic behemoth as I can.
Thanks for bringing this up...I hope BAT is released very soon.
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Nice article. Thanks for bringing this to our attention. Buy low, sell high, it seems so simple but most investors still don't seem to get it :-) Do you know this interesting site? https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. On: https://www.coincheckup.com/coins/Basic Attention Token#analysis To watch Basic Attention Token Report.
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