So, you’re into cryptocurrency, right? That means you hate centralization and old school, monopolistic tactics, right?
Well, there’s no worse case against centralization than the digital advertising space. How bad is the situation? According to Statista.com, nine companies control the lion’s share of online display ads, and the numbers will just keep getting worse. This unfortunate situation seems like it could be a permanent, irreversible trend that’s bad for the “little guys” and will leave the vast majority of businesses priced out of advertising. This troubling outcome is inevitable, unless, of course, a new competitor emerges that solves the issue by implementing a vastly different system that changes how people do business.
Not only is the online advertising vertical controlled by the few, but the entire space is fraught with peril for ad buyers. Everyone from small businesses to enterprise brands struggle with issues like common fraud and technical breakdowns that cause loss of money, increase frustration, and destroy value. Certainly, in 2018 and beyond, there has to be a better solution than what we have now?
Blockchain Technology to the Rescue
Ternio is a new startup cryptocurrency startup that is aiming at solving display advertising troubles through a blockchain solution. The project is currently offering pre-sale tokens as part of an ICO that seeks to raise capital to build out their service. According to their White Paper, they have patent-pending technology that not only addresses scalability issues but also gives them an edge over traditional ad networks by increasing the speed. Nobody likes slow ads, and all of the best-known ad networks deal with the issue all the time. Several blockchain ad display networks already exist, but they break down in the field because of transaction times.
Perhaps most importantly, Ternio will solve problems throughout the value chain. Right now, the ad network, advertisers, and publishers are often at odds and remain in a “strange bedfellows” situation. The blockchain solution takes direct aim at making the experience better for all three parties. For advertisers and publishers, transparent transactions remove any sense of unease and dramatically improve trust. They can purchase or sell ads with a lot more confidence than they could ever achieve using a third-party, traditional ad network. It’s safe to say and is demonstrated on a daily basis, that Facebook and Alphabet often make decisions that are ONLY in their best interests, at the expense of their partners and customers.
Ternio Is Taking Aim at a Trillion Dollar Global Market
Ternio is banking on there being a large enough market so that their offering can find its footing, primarily because of a technical edge. That might not be enough to intrigue the average ad buyer, but the freedom that comes with decentralization sweetens the deal enough that they will likely listen to Ternio’s pitch.
What helps Ternio’s proposal stand out from the crowd is the transparency that’s innate to the blockchain. In an industry that’s familiar to many to some levels, there’s an opaque veneer that hides many dirty secrets. Intermediaries exist at every point in the system, and fraud is rampant. Their blockchain, Lexicon, will allow for transparency with Smart Contracts that are explicit and easy to understand. Naturally, the transactions are transparent to the involved parties but are encrypted so that prying eyes do not have access.
As to the ICO opportunity, Ternio is swinging for the proverbial fences. Display advertising is a massive industry and has built Facebook and Alphabet (Google and YouTube’s parent company) into nearly TRILLION dollar valuations. The entire industry could reach $4.4 trillion in the next few years, so an investment now in new business could represent a considerable return on investment. Ternio has a minimum investment of $10,000 for early adopters from accredited institutions.
The ICO has a chance to do very well because there’s a giant crowd of people who are intimately familiar with online advertising. In today’s digital age, few people have not spent money on a Facebook Ad or AdWords. Millions of other people have been long-term users of Adsense and know what it’s like to deal with capricious, adverse decisions. For those who believe in the blockchain, and the many benefits of cryptocurrency, backing a startup that can potentially change the world of online advertising forever makes financial sense. For those of us who earn our livings digitally, a new alternative is a matter of long-term survival and the preservation of our way of life.
At Coin Observer, we’ll be keeping an eye on Ternio and its development.