{"id":26961,"date":"2018-01-30T06:56:12","date_gmt":"2018-01-30T14:56:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=26961"},"modified":"2020-04-09T18:43:27","modified_gmt":"2020-04-09T17:43:27","slug":"basic-attention-token","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/basic-attention-token\/","title":{"rendered":"An Introduction to Basic Attention Token (BAT) – Blockchain-Based Digital Advertising"},"content":{"rendered":"

Advertising is big business. We see its lurking presence on huge signs as we drive down the highway, our TV shows are interrupted so that we can see a quick sales pitch for laundry detergent, and even gas stations are equipped with ad pumping televisions screens.<\/p>\n

That\u2019s not even the half of it. A lot of our time, upwards of ten hours a day<\/a>, is spent in front of a computer or a mobile screen, and that\u2019s where the real advertising takes place. Targeted advertisements follow us around the internet in the hopes of selling us just the right product at just the right time.<\/p>\n

\"\"In total, companies spent just over $200 billion on advertising in 2017, and, according to data by Statista<\/a>, that number is expected to increase to $260 billion by 2021.<\/p>\n

It\u2019s not difficult to understand why. We are paying a lot of attention to our screens.<\/p>\n

In June, Facebook CEO, Mark Zuckerberg took to his platform to announce that Facebook eclipsed 2 billion users for the first time. What\u2019s more, data from the Pew Research Center<\/a> shows that popular social media sites like Facebook are typically accessed at least once a day and almost never less than once a week.<\/p>\n

Facebook is not a microcosm. It\u2019s representative of the entire internet where billions of people are placing their attention every day.<\/p>\n

But people are not stupid, and these ads are annoying, inaccurate, and, in many ways, just creepy. Advertising is a lucrative industry that\u2019s flush with flaws, inefficiencies, and opportunities.<\/p>\n

Basic Attention Token (BAT)<\/a> wants to be a part of the action. More specifically, it wants to make the whole experience better for everyone.<\/p>\n

Basic Attention Token: The Background<\/h2>\n
\"\"
Basic Attention Token improves digital advertising by creating a new token that can be exchanged between publishers, advertisers, and users. It all happens on the Ethereum blockchain.<\/figcaption><\/figure>\n

BAT is located in San Francisco, California, just down the street from Coinbase<\/a>. Relative to many other blockchain startups, BAT<\/a> employs a large team, upwards of 30 employees, to propel the project.<\/p>\n

During its initial coin offering, BAT raised $35 million in under 30 seconds. BAT has also raised another $7 million from investors for the creation of its Brave web browser.<\/p>\n

BAT was co-founded by Brendan Eich and Brian Bondy, both of whom have extensive experience in the tech world.<\/p>\n

To say Eich has an impressive resume would an understatement and he is the creator of JavaScript and\u00a0also the co-founder of Mozilla Firefox.\u00a0Meanwhile, Bondy developed his skill set working with the Khan Academy and Evernote.<\/p>\n

With this project, Eich and Bondy have seemingly applied their experiences into a new, iterative web browser that\u2019s specifically focused on changing our approach to advertising.<\/p>\n

Here is a short video (3:07) of Eich explaining how Basic Attention Token works:<\/p>\n