As the name of the coin suggest, Basic Attention Token has something to do with attention. So what kind of industry values attention from customers the most? It goes without saying that the advertising industry reap the most benefits from public attention. Basic Attention Token is a Ethereum based token which devoted themselves in the advertising sector. The Basic Attention Token project holds a vision to revolutionize advertising by addressing some of the common and major issues faced by users, publishers and advertisers. These issues include but not exclusive to violations of users’ privacy by tracking them unknowingly, difficulty in monetizing content for publishers and advertisers being constantly victimized from fraud. To simplify, Basic Attention Token aimed to radically improve online advertising by shielding users’ privacy, eliminating 3rd party ad exchange, minimizing the occurrence of ad fraud and introducing a revolutionary way of advertising where users are rewarded with revenue for their attention.
The online advertising business is currently being dominated by two colossal player, Facebook and Google. Up to 73% of the global online Ad revenue has been received by these two player and Basic Attention Token is looking for a way to change that. By removing the third party/middle man in the advertising chain, users can be rewarded for their attention by watching ads and majority of the revenues goes directly to the publishers. On top of that a better return of investment as well as a more accurate data on users’ behaviour and preferences can be gained. Basic Attention Token was established on Ethereum network and it is closely integrated with Brave Browser ( a browser created by Basic Attention Token Team ). Initially Brave Attention Token Development team aimed to integrate the BAT system into other browsers such as Firefox and Google Chrome in the end of year 2018, however it seems that they have postponed this plan to a later date. By utilising smart contracts, ad with token payment in a locked state can be send from advertisers to users directly without the involvement of third party. A portion of the token payment will be rewarded to the users when they watch the ad. The remainder of the token payment will be received by the publisher who host the advertisement after Brave Browser receives a portion of the payment. The BAT token acquired in the aforementioned situation can be spend by the users on several products and services. These services include browsing premium article, donations to content creator, high resolution stock photos and data services. With the BAT ecosystem expanding, the uses for BAT token are expanding as well.
To further explore what Basic Attention Token really is, We have provided the original and unedited PDF of Basic Attention Token (BAT) Whitepaper for our readers to understand the detail of it .