Digital ads revenues hit a record-breaking $220 billion in 2017 and the numbers continue to grow. Despite this fact, advertising is one of the worlds most unproductive and opaque industries due to a variety of factors. One of the major reasons for its inefficiency is that all parties in the advertising value chain are continuously looking for new technical tricks to gain a competitive advantage at the expense of other players. To combat fraud, which costs advertisers approximately $51 million per day, and eliminate users’ growing frustration with the irrelevance, invasiveness, and obstructive nature of online advertisements, Papyrus has introduced blockchain based smart contracts to the advertising and publishing industry.
Papyrus, the world’s first fully comprehensive and scalable blockchain ecosystem for digital advertisers, publishers, and developers has launched its Minimum Viable Product (MVP). The innovative technology removes the inefficiencies and dramatic challenges of the industry and aims to develop a disruptive digital advertising platform using a combination of integrated technologies that transform and unite the entire digital advertising market into a single comprehensive ecosystem, offering unmatched transparency, fraud reduction, security and cost effectiveness. All calculations between advertisers and publishers are controlled by smart contracts with automatic restrictions on payments depending on the quality of results as verified by independent verification service suppliers. Later in the year, Papyrus will launch its open-source blockchain network to where the current MVP will be migrated.
Papyrus Global will ensure transparency, while also incentivizing auditors to check for fraudulent activities within the new ecosystem. The platform will be extremely efficient, ensuring high traffic volumes and quality, ad quality and brand safety. Papyrus Global has been developed and is managed by a team of experts with strong backgrounds in building and scaling successful business processes in both the advertising and blockchain sectors.
Papyrus Global’s MVP Architecture
Papyrus Global’s MVP comprises 3 primary parts — Papyrus Advertiser Account and Demand-Side Platform (DSP) backend, Papyrus Publisher Account and Supply-Side Platform (SSP) backend, and Papyrus Viewability Verifier.
Papyrus Advertiser Account
The Papyrus Advertiser Account allows advertisers or agencies to create an ad campaign and verify its efficiency. Each ad campaign is supplemented with a smart contract incorporating intermediaries and commercial conditions for service provision, including budget, parameters, settings, and the payment rules as determined by the auditors.
Some of its key features are:
- A smart contract supplements each ad campaign where all intermediaries and commercial conditions for service provision are prescribed, including payment rules depending on the audit carried out by the connected verification service suppliers.
- The auditor gauges whether the advertisements are displayed to users within the viewable area of the screen.
- Smart Contracts will help choose the ideal auditors to verify traffic for fraud, improve accuracy and reduce brand safety violations.
- Smart Contracts will also facilitate swift dispute resolution when significant discrepancies exist among the participants’ metrics or if many violations are detected by verifiers.
- Ad campaigns will be paid for with Papyrus tokens.
- The dashboard interface will also display the commissions paid to intermediaries, and the percent of fraud and violations found by connected auditors.
- A system in place for analyzing which suppliers provide inefficient or substandard services.
- The ability to download raw data about all observed events and participants, ensuring that verification service suppliers can carry advanced audits.
Papyrus Publisher Account
The Papyrus Publisher Account is meant for the publishers to gauge their websites and ad slots and insert ad units. Publishers can use the interface to analyze commissions, streams, and violations, thus allowing them to make optimal adjustments after performance analysis.
Some of its key features are:
- Token funds can be claimed via smart contracts through a channel created in Papyrus.
- Publishers can send Papyrus tokens to their wallets via the MetaMask feature.
- Publishers can gauge their revenue streams, commissions, and violations, and thus optimize their inventory selling.
- A detailed analysis of raw input data from all participants per block of the Papyrus Channel Layer is possible.
Papyrus Viewability Verifier
The Papyrus Viewability Verifier allows auditors to detect violations, fraudulent activities, poor user viewability, breaches of brand safety, and noncompliance with publishers’ policies regarding advertised content. Auditors are chosen by both the advertisers and the publishers, and as such they must establish a strong reputation for themselves, incentivizing them to provide high-quality services.
The Papyrus MVP is the first step to many future Papyrus blockchain applications in the advertising market. However, the basic architecture and composition of Papyrus’ MVP already demonstrates how they intend to balance out the interests of all the parties involved in the advertising value chain.
For more information, please visit www.papyrus.global