Digital advertising company EnvisionX on Tuesday launched an initial coin offering (ICO) to develop its EXCHAIN advertising platform, which promises a blockchain-based, transparent, programmatic (automated), fraud-free digital advertising system, in response to the non- transparent practices and ad fraud which plague the USD 224 billion market.
Quoting estimates that set the percentage of advertising affected at up to 33 percent of total market spend, EnvisionX said this has led many global brands to question the value that many ad platforms provide.
The company, which was founded in 2014, aims to eradicate ad fraud by providing advertisers, publishers and service providers with full visibility over the advertising value chain. It states that its EXCHAIN solution uses blockchain technology to offer a fully automated and cost-effective method of delivering advertising campaigns and providing immutable proof of evidence chains, enabling fully tracked, verified and audited ad spend through clean and direct advertising inventory sources.
“By leveraging the power of blockchain, we aim to revolutionise the way business is conducted in the global digital advertising ecosystem and to reinstate the trust and confidence in the automated ad trading processes,” Zheng Zhang, CEO and Co-Founder of EnvisionX said, in a statement.
“Integrating blockchain technology into our existing programmatic advertising platform solutions will take global programmatic advertising to the next level and add an extra layer of security to the market. This will help combat long-standing industry issues and create a transparent and fraud-free digital advertising ecosystem for both buyers and sellers,” he added.
EnvisionX states that it will issue ERC20 compliant /EXT tokens, which can be exchanged for advertising space and services. Tokens will be deposited and stored in the owner’s wallet which enables users to manage their crypto assets, whilst allowing EXCHAIN to perform transparency, anti-fraud and payment processing functions.
The EnvisionX ICO ends on 29 April.
For more information, visit https://exchain.co/