Podcast
Questions and Answers
According to Tim Wu, how did new media achieve commercial viability?
According to Tim Wu, how did new media achieve commercial viability?
- By charging users directly for content
- Through government subsidies and grants
- By reselling captured attention in exchange for 'free' content (correct)
- By relying solely on philanthropic donations
What was the initial promise of advertising technology (ad-tech)?
What was the initial promise of advertising technology (ad-tech)?
- To reduce user privacy and increase malware
- To create a more efficient marketplace for attention (correct)
- To benefit only large corporations
- To create a complex and confusing marketplace
What is the role of data analysis in the context of the initial vision of ad tech?
What is the role of data analysis in the context of the initial vision of ad tech?
- To get marketers closer to their users (correct)
- To slow down distribution
- To create more middlemen
- To obscure the value of users
What is one negative consequence users have experienced due to the current state of ad-tech?
What is one negative consequence users have experienced due to the current state of ad-tech?
Which of the following is a problem faced by publishers in the current ad-tech ecosystem?
Which of the following is a problem faced by publishers in the current ad-tech ecosystem?
What is the main goal of the proposed blockchain-based solution mentioned in the content?
What is the main goal of the proposed blockchain-based solution mentioned in the content?
According to Thomas Davenport and JC Beck, what is attention?
According to Thomas Davenport and JC Beck, what is attention?
What does AIDA stand for in the context of advertising?
What does AIDA stand for in the context of advertising?
What does a wealth of information lead to, according to the text?
What does a wealth of information lead to, according to the text?
In the context of digital advertising, what do users give to publishers in return for information?
In the context of digital advertising, what do users give to publishers in return for information?
What is the current method by which publishers are typically paid?
What is the current method by which publishers are typically paid?
What negative consequence do users suffer from the current advertising ecosystem?
What negative consequence do users suffer from the current advertising ecosystem?
What can happen to human attention when it is excessively used?
What can happen to human attention when it is excessively used?
What is the term for when neurons learn to ignore ad slots?
What is the term for when neurons learn to ignore ad slots?
What is the name of the new browser mentioned in the text that blocks invasive ads and trackers?
What is the name of the new browser mentioned in the text that blocks invasive ads and trackers?
What does BAT stand for in the context of digital advertising?
What does BAT stand for in the context of digital advertising?
What critical elements did the rise of the Internet promise for advertising technology?
What critical elements did the rise of the Internet promise for advertising technology?
What has been the counter-intuitive result of the complexity in the advertising ecosystem?
What has been the counter-intuitive result of the complexity in the advertising ecosystem?
What concern did the Chief Brand Officer of P&G express?
What concern did the Chief Brand Officer of P&G express?
What is one challenge faced by typical publishers in the current advertising ecosystem?
What is one challenge faced by typical publishers in the current advertising ecosystem?
Which of the following entities is NOT typically accounted for by Sales planners when budgeting for brand advertising?
Which of the following entities is NOT typically accounted for by Sales planners when budgeting for brand advertising?
What do agencies commonly use to enhance targeting and confirm attribution?
What do agencies commonly use to enhance targeting and confirm attribution?
What is a significant cost faced by publishers on the receiving side of ads?
What is a significant cost faced by publishers on the receiving side of ads?
What term describes the economic impact of the multiple intermediaries involved in brand ad campaigns?
What term describes the economic impact of the multiple intermediaries involved in brand ad campaigns?
What exchange rate was set for the token launch?
What exchange rate was set for the token launch?
How will Brave primarily use the ETH raised during the token launch?
How will Brave primarily use the ETH raised during the token launch?
How will Brave store the ETH raised during the crowdsale?
How will Brave store the ETH raised during the crowdsale?
What is the immediate status of the crowdsale tokens regarding transferability?
What is the immediate status of the crowdsale tokens regarding transferability?
According to the content, what can tokens used in the Browser be used for?
According to the content, what can tokens used in the Browser be used for?
Who was awarded the Nobel Prize in Economics in 1991 for work on social and transaction costs?
Who was awarded the Nobel Prize in Economics in 1991 for work on social and transaction costs?
What does the content describe as a negative externality or 'social cost' for the user in the current ad-tech ecosystem?
What does the content describe as a negative externality or 'social cost' for the user in the current ad-tech ecosystem?
What does the Coase Theorem state regarding externalities or 'social costs'?
What does the Coase Theorem state regarding externalities or 'social costs'?
In the equation $Q = 1 - (P + c)$, what does 'c' represent?
In the equation $Q = 1 - (P + c)$, what does 'c' represent?
If the neighbor has a valuation $ν$ for a clean environment, what does $νQ$ represent?
If the neighbor has a valuation $ν$ for a clean environment, what does $νQ$ represent?
When the neighbor maximizes their net benefit, what equation must equal zero?
When the neighbor maximizes their net benefit, what equation must equal zero?
If the factory has the entire property right, what does the neighbor effectively purchase from the factory?
If the factory has the entire property right, what does the neighbor effectively purchase from the factory?
What is a requirement for Coase’s theorem to hold symmetrically?
What is a requirement for Coase’s theorem to hold symmetrically?
To whom does user attention belong de facto?
To whom does user attention belong de facto?
What is another requirement for validity of the symmetric version of Coase's theorem?
What is another requirement for validity of the symmetric version of Coase's theorem?
In the benefit maximization formula, what is the variable P?
In the benefit maximization formula, what is the variable P?
What primarily sustains the current advertising ecosystem?
What primarily sustains the current advertising ecosystem?
What is a major problem with current campaign effectiveness metrics?
What is a major problem with current campaign effectiveness metrics?
What is identified as a key factor contributing to high transaction costs in the advertising ecosystem?
What is identified as a key factor contributing to high transaction costs in the advertising ecosystem?
What would be a Coasean solution to attention economy inefficiencies?
What would be a Coasean solution to attention economy inefficiencies?
What is a potential benefit of applying a Coasean solution to the attention economy?
What is a potential benefit of applying a Coasean solution to the attention economy?
What negative externality do publishers face due to the current advertising ecosystem?
What negative externality do publishers face due to the current advertising ecosystem?
What is a direct technique to pay publishers suggested in the content?
What is a direct technique to pay publishers suggested in the content?
What do advertisers use to measure user attention?
What do advertisers use to measure user attention?
Flashcards
Ad-Tech
Ad-Tech
Technology used to buy and sell advertising in a marketplace.
Marketplace for Attention
Marketplace for Attention
A platform where user attention is traded for content.
AIDA Model
AIDA Model
A marketing model describing the stages of Attention, Interest, Desire, and Action.
Data Analysis in Advertising
Data Analysis in Advertising
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Attention Scarcity
Attention Scarcity
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Current Ad-Tech Problems
Current Ad-Tech Problems
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Blockchain-based Marketplace
Blockchain-based Marketplace
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Historical Advertising
Historical Advertising
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ETH crowdsale
ETH crowdsale
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Brave Software's use of ETH
Brave Software's use of ETH
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Ethereum multisig wallet
Ethereum multisig wallet
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BAT tokens transferability
BAT tokens transferability
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Negative externality in ads
Negative externality in ads
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Coase Theorem
Coase Theorem
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Inefficient attention market
Inefficient attention market
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Example of Coase Theorem
Example of Coase Theorem
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Information Overload
Information Overload
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Monetization of Attention
Monetization of Attention
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Electronic Pollution
Electronic Pollution
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Banner Blindness
Banner Blindness
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Basic Attention Metrics (BAM)
Basic Attention Metrics (BAM)
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Brave Browser
Brave Browser
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Basic Attention Token (BAT)
Basic Attention Token (BAT)
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Ethereum
Ethereum
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Attention Marketplace
Attention Marketplace
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Advertising Technology
Advertising Technology
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Intermediaries
Intermediaries
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Digital Marketing Teams
Digital Marketing Teams
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Ad-blocker-Free Attention
Ad-blocker-Free Attention
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Transaction Costs
Transaction Costs
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Programmatic Ads
Programmatic Ads
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Creative Budget
Creative Budget
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Marginal Cost of Production (c)
Marginal Cost of Production (c)
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Pollution Permit Price (P)
Pollution Permit Price (P)
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Net Benefit Maximization
Net Benefit Maximization
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Property Rights
Property Rights
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Attention Ownership
Attention Ownership
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Information Symmetry
Information Symmetry
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Valuation of Clean Environment (ν)
Valuation of Clean Environment (ν)
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Ad-Blockers
Ad-Blockers
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Viewability Metrics
Viewability Metrics
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Coasean Bargain
Coasean Bargain
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Attention Economy
Attention Economy
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Direct Compensation
Direct Compensation
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Cryptographically Secure Payments
Cryptographically Secure Payments
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Study Notes
Basic Attention Token (BAT)
- Digital advertising is broken, with complex user tracking, malvertisements, and privacy violations
- Mobile advertising results in high data costs and reduced battery life
- Ad blocking software use is increasing
- Traditional publishers have experienced significant revenue decline
- The solution is a decentralized, transparent digital ad exchange based on blockchain
- Brave is a privacy-focused browser blocking third-party ads and trackers
- BAT (Basic Attention Token) is a token for a decentralized ad exchange
- BAT compensates users for attention while protecting privacy
- BAT connects advertisers, publishers, and users, removing the costs of existing ad networks
Value Proposition
- Users benefit from strong privacy, relevant ads, and performance improvement
- Publishers experience better reporting and enhanced revenue
- Advertisers have lower costs, less fraud, and improved attribution
Attention Marketplace
- Attention is a scarce commodity, similar to other raw materials
- The current ad tech market has numerous intermediaries and is inefficient
- Users face problems with privacy and malware
- Publishers experience diminished revenue and increased fraud
- Advertisers face difficulty assessing the effectiveness of ads
Basic Attention Metrics (BAM)
- BAM measures user attention through active browser tabs
- User attention is measured as time spent focused on content or ads
- Attention is measured based on incremental duration and viewed pixels relative to content
- The system will use in-device machine learning to match truly relevant ads to user content
Token Technology
- BAT is a token based on the Ethereum blockchain, enabling decentralized transactions
- BAT represents user attention
- The BAT token will be used to make in-platform payments to publishers, advertisers, and users
- BAT is meant for experts in cryptography and blockchain-based software systems
- The BAT token exchange will be used for several use cases
- Users will receive some BATs for participation, which they can use to donate to publishers
Business Landscape
- BAT's competitors include Reddit Gold, Steem, and Blendle
- BAT offers a more efficient and transparent advertising approach
- Existing advertising platforms often have many intermediaries and are opaque
Key Team Members
- The team includes key figures in internet development and finance and/or related fields
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Description
An overview of Basic Attention Token (BAT), a decentralized cryptocurrency. BAT aims to solve digital advertising issues, compensate users for attention, and protect privacy. It connects advertisers, publishers, and users directly, removing the costs of traditional ad networks.
