NEW YORK, Jan. 24, 2018 /PRNewswire/ -- Algomizer, a public company traded on the Tel Aviv Stock Exchange (TASE: ALMO) and specializing in the online marketing field, is evaluating an ICO (Initial Coin Offering) in order to implement blockchain technology in its flagship product, Ad-Assistant platform.
The aim of this implementation is to utilize blockchain technology, which enables secure process and information flow management, to further enhance Ad-Assistant.
Successful ICO and integration of the technology will allow Algomizer to add various modules, such as verification of services, receipt of payment, service confirmation, optimal allocation of customers and leads and warranty offering. Once the technology is implemented, Algomizer will be able to provide its customers an attractive business model involving result-based payment: customers will only pay the company for using the platform once an order is booked via the system.
Noam Band, CEO of Algomizer, said: "We are evaluating the transition to blockchain technology, with the first stage being its implementation in Ad-Assistant. This model is already widely used globally by many successful enterprises, including Fiverr, Uber and Airbnb. We estimate that this business model will further benefit the company and enable us to broaden the advertising channels available to businesses via the platform today."
To evaluate the ICO, the company established a blockchain and ICO taskforce, which includes the company's CEO, its Deputy CEO, an external consultant and other employees and consultants.
Ad-Assistant is currently capable of creating a marketing campaign on Google's advertising platform and generating leads or lead calls to the advertising business via the system.
The blockchain technology Algomizer intends to implement will enable it to offer new, unique capabilities to both advertising businesses and their customers. The company believes that the transition will reinforce Ad-Assistant's advantages compared to its competitors and constitute a growth driver, with additional advertisers and users favoring Ad-Assistant.
The company emphasizes that any ICO will only take place after obtaining all required approvals and with compliance with all ISA requirements published before the ICO, as well as all SEC provisions for Security Token ICO.
The company estimates the overall timetable of preparing and completing the ICO is approximately three months.