Podcast
Questions and Answers
What is a desirable characteristic of a fully distributed ledger for BAT?
What is a desirable characteristic of a fully distributed ledger for BAT?
- Limited accessibility
- Restricted scalability
- Public accountability (correct)
- Centralized control
What do state channels allow for in the context of BAT?
What do state channels allow for in the context of BAT?
- No anonymity guarantees
- Multiple small transactions with anonymity (correct)
- Direct tracking of users
- Single large transactions
Which of the following is mentioned as offering stronger privacy guarantees?
Which of the following is mentioned as offering stronger privacy guarantees?
- State Channels
- Ethereum
- Zcash (correct)
- Raiden
What type of system might be used, where small payments are made probabilistically?
What type of system might be used, where small payments are made probabilistically?
Whose privacy is considered of primary importance in the BAT system?
Whose privacy is considered of primary importance in the BAT system?
What type of transactions are expected to be most common in a fully distributed BAT system?
What type of transactions are expected to be most common in a fully distributed BAT system?
According to Tim Wu, how did new media historically achieve commercial viability?
According to Tim Wu, how did new media historically achieve commercial viability?
What was the initial promise of advertising technology ('ad-tech')?
What was the initial promise of advertising technology ('ad-tech')?
What is Brave's intention regarding the BAT infrastructure?
What is Brave's intention regarding the BAT infrastructure?
Besides donating, what is another use case mentioned for BAT tokens?
Besides donating, what is another use case mentioned for BAT tokens?
In theory, what did ad-tech propose to reward?
In theory, what did ad-tech propose to reward?
What is one of the negative consequences users have experienced due to ad-tech?
What is one of the negative consequences users have experienced due to ad-tech?
What have publishers generally experienced in terms of revenue due to the current state of ad-tech?
What have publishers generally experienced in terms of revenue due to the current state of ad-tech?
According to Davenport and Beck, what term describes 'focused mental engagement on a particular item of information'?
According to Davenport and Beck, what term describes 'focused mental engagement on a particular item of information'?
What does AIDA stand for in the context of advertising?
What does AIDA stand for in the context of advertising?
In what historical periods did the earliest forms of advertising appear?
In what historical periods did the earliest forms of advertising appear?
What is the maximum amount of USD the Basic Attention Token (BAT) launch aimed to raise?
What is the maximum amount of USD the Basic Attention Token (BAT) launch aimed to raise?
What was the initial exchange rate between ETH and Basic Attention Tokens (BAT) at the time of the token launch?
What was the initial exchange rate between ETH and Basic Attention Tokens (BAT) at the time of the token launch?
How many Basic Attention Tokens (BAT) were allocated to Brave during the token distribution?
How many Basic Attention Tokens (BAT) were allocated to Brave during the token distribution?
How many Basic Attention Tokens (BAT) were allocated to the User Growth Pool?
How many Basic Attention Tokens (BAT) were allocated to the User Growth Pool?
What is the maximum amount of BAT that early adopters of Brave could receive from the user growth pool?
What is the maximum amount of BAT that early adopters of Brave could receive from the user growth pool?
According to the budget allocation, what percentage of the raised ETH was allocated to the BAT team?
According to the budget allocation, what percentage of the raised ETH was allocated to the BAT team?
What percentage of the budget was allocated to administration?
What percentage of the budget was allocated to administration?
What is a direct cost faced by publishers when malvertising spreads?
What is a direct cost faced by publishers when malvertising spreads?
What is a hidden cost associated with the complexity of the advertising ecosystem?
What is a hidden cost associated with the complexity of the advertising ecosystem?
How do data transfers by middle players affect user experience?
How do data transfers by middle players affect user experience?
What do economists compare violations of user privacy to?
What do economists compare violations of user privacy to?
According to Pew Research, what percentage of adults believe users have lost control of how personal information is collected?
According to Pew Research, what percentage of adults believe users have lost control of how personal information is collected?
What do a large majority of adults believe the government should do regarding advertisers?
What do a large majority of adults believe the government should do regarding advertisers?
What is the purpose of malicious bots in the advertising marketplace?
What is the purpose of malicious bots in the advertising marketplace?
What do bots siphon from the ad industry each year?
What do bots siphon from the ad industry each year?
What is a primary benefit of involving the browser in measuring user interaction with websites?
What is a primary benefit of involving the browser in measuring user interaction with websites?
What does the Brave browser contain for assessing user interests?
What does the Brave browser contain for assessing user interests?
What is a key advantage of tailoring ads to individual user preferences?
What is a key advantage of tailoring ads to individual user preferences?
What is a benefit for the user when ads are tailored to their individual preferences?
What is a benefit for the user when ads are tailored to their individual preferences?
What is the novel idea presented in the text regarding user attention?
What is the novel idea presented in the text regarding user attention?
What makes economic sense regarding user attention?
What makes economic sense regarding user attention?
What technology is used to confirm that user attention is directed towards the publisher?
What technology is used to confirm that user attention is directed towards the publisher?
What feature maintains user privacy within the Brave Ledger?
What feature maintains user privacy within the Brave Ledger?
In the proposed advertising scheme, how does the advertising spend received by the publisher compare to their current proportion?
In the proposed advertising scheme, how does the advertising spend received by the publisher compare to their current proportion?
What is the impact on users viewing more publisher content because of BAT?
What is the impact on users viewing more publisher content because of BAT?
In the BAT ecosystem, how is the advertiser's spending for a given amount of attention expected to compare?
In the BAT ecosystem, how is the advertiser's spending for a given amount of attention expected to compare?
What do advertisers NOT need to pay for in the BAT ecosystem?
What do advertisers NOT need to pay for in the BAT ecosystem?
What does the use of the BAT system offer to browser users, advertisers, and publishers?
What does the use of the BAT system offer to browser users, advertisers, and publishers?
What benefit do publishers receive from the BAT system?
What benefit do publishers receive from the BAT system?
What is one of the benefits users receive from the BAT system?
What is one of the benefits users receive from the BAT system?
What are the three major factors postulated to determine the value of virtual currencies?
What are the three major factors postulated to determine the value of virtual currencies?
Flashcards
Ad-tech
Ad-tech
Advertising technology intended to optimize the market for attention.
Attention economy
Attention economy
An economic model where consumer attention is a scarce resource.
AIDA model
AIDA model
A marketing framework: Attention, Interest, Desire, Action.
User privacy loss
User privacy loss
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Ad fraud
Ad fraud
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Blockchain marketplace
Blockchain marketplace
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Attention as scarcity
Attention as scarcity
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Historical advertising
Historical advertising
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Distributed Ledger
Distributed Ledger
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BAT Token Incentives
BAT Token Incentives
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State Channels
State Channels
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Zero-Knowledge Proof
Zero-Knowledge Proof
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Proof of Attention
Proof of Attention
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Micropayment System
Micropayment System
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Privacy in Transactions
Privacy in Transactions
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Tokens for Targeted Advertising
Tokens for Targeted Advertising
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Malvertising
Malvertising
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User Complaints Cost
User Complaints Cost
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Middleman Transactions
Middleman Transactions
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User Experience Deterioration
User Experience Deterioration
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Privacy Violations
Privacy Violations
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Government Regulation
Government Regulation
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Fraud in Advertising
Fraud in Advertising
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Digital Ad Ecosystem
Digital Ad Ecosystem
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User Attention
User Attention
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Brave Browser
Brave Browser
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Opt-in Machine Learning
Opt-in Machine Learning
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Microtargeting
Microtargeting
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Compensation for Attention
Compensation for Attention
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Cryptographic Contracts
Cryptographic Contracts
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Brave Ledger
Brave Ledger
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Decentralized Solutions
Decentralized Solutions
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Publisher Recovery
Publisher Recovery
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Attention Tokens
Attention Tokens
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Pac (BAT)
Pac (BAT)
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Reduced Advertising Costs
Reduced Advertising Costs
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Coase Theorem
Coase Theorem
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Virtual Currency Value Factors
Virtual Currency Value Factors
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User Engagement Proof
User Engagement Proof
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Social Costs Mitigation
Social Costs Mitigation
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Token Launch Maximum
Token Launch Maximum
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Minimum Financing
Minimum Financing
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ETH to BAT Exchange Rate
ETH to BAT Exchange Rate
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Token Distribution
Token Distribution
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User Growth Pool
User Growth Pool
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Unsued BAT Policy
Unsued BAT Policy
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Budget Allocation for BAT Team
Budget Allocation for BAT Team
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Administration Budget Allocation
Administration Budget Allocation
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Study Notes
Basic Attention Token (BAT)
- Digital advertising is inefficient, with excessive intermediaries, user tracking and opaque cross-party sharing
- Users experience malicious advertisements and privacy violations. Mobile ads result in high data costs (e.g., $23/month) and decreased battery life (e.g., 21%)
- Advertising revenue has fallen by 66% for traditional publishers in a decade, adjusted for inflation.
- BAT is a decentralized, blockchain-based digital ad exchange
- BAT rewards users for attention while protecting privacy
- BAT removes the drawbacks of current ad networks (e.g., fraud, privacy violations, malvertising)
- BAT facilitates better conversion for advertisers and higher yields for publishers
Attention-Based Economics on Blockchain
- Attention is a valuable commodity
- The existing advertising ecosystem is complex, inefficient and opaque
- Users face privacy violations and inflated charges
- Publishers lose revenue and struggle to control their revenue streams
- BAT seeks to foster a fair and transparent attention marketplace
Basic Attention Metrics (BAM)
- BAM measures user attention in real-time, focusing on user engagement
- Attention is measured through browser activity like time spent on the page
- The new system enhances the accuracy of attention measurement to improve targeting and conversion rates
Token Technology Overview
- BAT (Basic Attention Token) is based on Ethereum
- Used as a currency or payment mechanism
- Allows for secure and transparent transactions in digital advertising
- BAT can facilitate specific or targeted advertising given the identity of the user
- BAT can be used to purchase premium content, digital goods and/or other services
- BAT tokens are transferable
Key Team Members
- Brendan Eich: CEO, co-founder of Brave, created JavaScript, and co-founded Mozilla
- Brian Bondy: Lead Developer, previously worked at Khan Academy, Mozilla and Evernote
- Scott Locklin: Senior Engineer with expertise in machine learning and quantitative finance
- Others include experienced engineers in areas such as design, communication, and engineering
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