Libra : marketing effect or future of the Blockchain ?
After two years of speculation, Facebook has revealed the details of its future cryptocurrency : Libra. In order to determine the usefulness (or uselessness) of Libra, it is useful to demystify quickly what it is. After all, Facebook says Libra “will provide a simple global currency and a financial infrastructure that empowers billions of people”. But how is Libra deeply connected to marketing ? Who are the other actors surfing between blockchain and advertising ?
The Libra – Calibra project
Facebook is not alone in this project
Facebook is planning to launch a cryptocurrency that should “transform the global economy”. This currency, named Libra, is developed by Facebook but the company intends to share control with a consortium of organizations, including venture capitalists, credit card companies and other giants of technology.
All of the founding members including Visa, MasterCard, Spotify, PayPal, Uber, Lyft and Vodafone have donated ten million dollars to join the network, which is far from the decentralized nature of the Blockchain. It is also surprising to see that Google, Amazon, Apple or banks are not part of the project.
Simple operation and a clear roadmap
At launch, you will be able to use Libra in Facebook Messenger and WhatsApp, mainly as a substitute for traditional currency transfer. In the long term, Facebook hopes that Libra will be accepted as a means of payment and that other financial services will rely on its Blockchain network.
Facebook is also launching a subsidiary, Calibra, which will develop products and services based on Libra. This is how Facebook intends to earn money through cryptocurrency, and this will begin with the launch of its digital portfolio. Calibra will also manage Libra integrations for other Facebook services.
Libra, a safe value ?
Given the ambitious goals of Facebook, its reputation for pseudo confidentiality and the concern of political and banking actors, the announcement has raised many questions from regulators. Facebook will have to answer these questions before the launch of the currency in the first half of 2020.
What is the hidden face of this new cryptocurrency ?
Facebook wants to participate in monetary transactions or to take a good part of it. But also, Libra will allow Facebook and its partners to collect even more data about users, including a history of payments they will cross with the user data they already have. Indeed, in addition to knowing what loves and what advertising looks the user, Facebook will now be able to know the purchases made. This new feature will once again benefit the US giant to the detriment of all its users who will still not be rewarded for the exploitation and sharing of their personal data.
Advertz : Adz that Payout
Advertz is an advertising platform that combines digital display with a social shopping network, where brands, websites and the audience can share content or campaigns. Advertisers find their account in performance and quality of the campaigns. Websites recover more margin. Members are rewarded for their commitment. They can also publicly give their opinion on the offers. For data, Advertz works in a truly decentralized manner using Blockchain technology to authenticate web traffic and reward user members. Then, we move from a logic of volume or price based on the number of transactions to a more qualitative logic that increases the effectiveness of the conversion rate, commitment and trust. This opens the door to a circular economy as advertising becomes more accessible, less intrusive and no longer a burden to the user.
An innovative reward system
The principle is very simple : when registering, a virtual wallet is automatically created. Whenever the user like, he earns one point, every comment two points and if he shares, he earns as many points as likes he has had. Points are converted into virtual currency (AAT – Advertz Attention Token) credited to the wallet. These points can either be saved while they are gaining value or be used as exclusive advantages or offers from partner brands.
A display network with traffic authentication
On the display network (ads that we see on sites), bloggers and websites can monetize their contents by displaying brand advertisements or other sites that are part of the network. By displaying the advertising of others, sites can self-finance their own promotion. In addition, websites receive a much larger margin than other advertising networks. The Blockchain allows a validation of the traffic by which 51% of the traffic comes from the activity of the robots. As a result, advertisers know the true reach of their campaigns while paying the right price.
An intuitive social shopping
Social shopping is a new form of online commerce, operating on the word of mouth mode : this person will recommend such offer, and talk to other members of the network with the same affinities. Social shopping reproduces the purchasing behavior that the consumer would have had in a physical shop or on a classic e-commerce site. Offers are put forward in different worlds of products and services. Best offers are put forward by the vote of the members. Tradespeople have a transparent and direct experience feedback. With Advertz social shopping, brands reach more audiences and members are paid for their interactions in the community.
Other Blockchain applications
The flagship technology of recent years is the blockchain. Some describe it as an advancement as important as the Internet was in the late twentieth century. Many projects are emerging, offering services revolutionizing the entire digital world.
Brave : the fast and secure browser
Brave is an open source web browser that aims to protect the privacy of these who use it by various means such as blocking trackers or by preferring secure pages (HTTPS).
The more users watch advertisements, the more they earn tokens : the Basic Attention Tokens (BAT). Eventually, these tokens will allow access to exclusive content and real gifts like coupons for restaurants or hotels. However, it will also be possible to convert them into money.
Thrive : the advantageous advertising platform
Thrive is a blockchain-based marketplace for buying and selling advertising at great prices. Users are paid for data sharing and to review the quality of each website in the ecosystem. With Thrive, they take back control of Internet.
Using a community-based meritocratic system that rewards publishers and consumers around the world, Thrive claims to be an important player in the decentralized advertising market. They use the Blockchain to create a safe and rewarding platform on which users can buy and sell advertising space, while rewarding consumers and reviewers who help keep the system running.