SHANGHAI, Aug. 1, 2018 /PRNewswire/ -- Ontology, a next-generation public blockchain project and decentralized trust cooperation platform, has formally announced their strategic cooperation with Adrealm, an open ecosystem network for digital advertising.
According to an MOU signed on July 30th, 2018, Ontology will provide essential tech support for a high-performance blockchain. Adrealm will bring their dApp to the Ontology MainNet, and the two companies will share marketing and community-relation resources.
Both companies share the view that the global digital advertising industry desperately needs a massive paradigm correction. How industry-participants are incentivized to behave at each stage of a digital advertising campaign - and especially how user-traffic is monitored and monetized - exacerbates the noxious asymmetries of power and access that facilitate fraud and exploitation.
At the center of it all are anxieties about trust, which nearly every day are proving warranted.
Sharing to fix; fixing to share
The partnership aims to reform and reinvigorate the productive relationships that have made the digital advertising industry a highly profitable one. But the paradigm shift they are poised to punt has the potential to liberate market potentials from the near monopolistic grip of big players.
Adrealm, a blockchain-powered adtech ecosystem, is that punt. The company is slated to roll-out this autumn a data management, attribution, and transaction platform that uses smart contracts to solve trust issues, a $USD-pegged token for transactions, and AI to deliver an improved level of ad-targeting. The company has pioneered a novel theoretical approach to establishing consensus on a blockchain (BIOC: Business Incentive-Oriented Consensus), and from it has created a new kind of blockchain consensus mechanism (PoVT: Proof of Valid Traffic).
Adrealm will launch the world-first decentralized mobile attribution and analytics platform Xhance this summer.
Ontology, which is committed to paving the way for wide-reaching reforms and innovations in the economic sector, will provide Adrealm with a high-performance blockchain and tech support. By running Adrealm's dApp (Xhance) on the Ontology MainNet, Ontology aims to build a bridge between the digital advertisement industry and distributed digital systems worldwide. The scope and scale of the partnership will allow Ontology to advance towards their main objective: connecting people, assets, objects, and affairs to a distributed digital system.
Ontology and Adrealm will appear as a combined presence in promotional activities around the globe.
"It's a great alignment of interests and talents," said Brian Xie, Founder and CEO of Adrealm Foundation.
"We're looking forward to working with Ontology to promote the application of blockchain technology. Both teams believe deeply in blockchain's best-known and most important characteristics — transparency, fairness, and decentralized governance. The partnership with Ontology brings us nearer to creating a new digital advertising ecosystem. Ontology has great technological and community foundations, and the Adrealm team has years of experience with big data, digital advertisement, product research and development, and mobile game publishing."
"If there was ever going to be a team capable of creating a new digital advertising industry standard, this is it," Xie said.
Ontology founder Li Jun agrees.
"Digital advertisements now penetrate into everyone's life. But the continuous development of industry has led to problems — data diddling, data silos, giant monopolies, data leakage, and so on," Li said.
"Ontology is devoted to building a trust system that integrates the real economy with the digital one. We're aiming to build a structure which will not only support the collaboration between decentralized, socialized, distributed trust sources, and data sources. We intend also to support the compliance-activities of trust-sources and data-sources, in the context of different kinds of real-life business scenarios and regulation systems."
"We are pleased to be cooperate with Brian and his team at Adrealm," Li added. "We at Ontology are looking forward to the creation of more technology, and to the development of innovative new applications."
"Our collaborative work on these fronts aims to distribute more power - more agency - to more people," he said.
"Developing and ecosystem of trust can restore trust to society generally. Brian and I agree that this isn't just worthwhile. It is crucial. It is necessary."
"Metatransparency Driving Creation"
The Adrealm Foundation press conference will be at 2pm on August 2nd 2018, at the Ritz Carlton Hotel, Pudong New District.
Ontology's Chief Strategy Officer Andy Ji will greet attendees and give a short presentation.
Adrealm Foundation, founded on January 2018, is committed to using blockchain to re-construct the digital advertising ecosystem. Adrealm aims to build an open ecosystem network that enforces a new standard in the industry, fundamentally eliminating industry pain points such as data silos, opacity, hegemony, data leakage etc. By pioneering the concept "BIOC" (Business Incentive-Oriented Consensus), Adrealm has developed an original consensus mechanism, "Proof of Valid Traffic" (PoVT), that closely binds all participants on the chain to the common objective that benefits the ecosystem in the long-term. The Adrealm blockchain system architecture features an on-chain+off-chain design, which achieves internet-scale concurrency levels. There is also a service layer that hosts a suite of digital advertising services and engines such as ad optimization, data analytics and anti-fraud capabilities. Adrealm will release the first decentralized mobile attribution and analytics DApp, Xhance, on August 2nd.
Ontology is a new high-performance public multi-chain project & A distributed trust collaboration platform
Ontology provides new high-performance public blockchains that include a series of complete distributed ledger and smart contract systems.
Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration among chain networks with its various protocol groups.
Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.
For more information, please visit https://ont.io/.
Email: [email protected]
SOURCE Adrealm; Ontology