The crypto news network, CryptoControl, has officially launched a service which is currently set to change the way the ad industry operates. Bitwords is a smart-contract based network that offers complete transparency by revealing how it fundamentally works.
Bitwords and the current problem with ads
By far, one of the most significant issues that the ad industry faces is that it is not clear enough. When purchasing ad space, nobody knows how much of their money goes to publishers or how much is taken by advertisers. Buyers of ad space are left in the dark about how their money is handled and distributed, leaving them uncomfortable and disillusioned. Without a level of trust that can only be achieved through transparency, ad buyers cannot ever feel 100% happy about their ads.
Luckily, this problem is easy to solve. It all revolves around honesty and transparency. Bitwords uses Ethereum smart contracts to reveal to ad buyers how exactly their money is distributed. People can find out, via smart contracts, how much of their money goes to Bitwords and how much goes to the ad publishers themselves. This is possible through the immutable nature of Ethereum’s blockchain— nobody can maliciously alter the smart contracts. This means that when Bitwords say they only take a 10% cut from revenues, everybody can see and verify the validity of that claim.
Seeing how effective your ads are
Furthermore, the Bitwords team is also working with an additional project which will directly improve the Bitwords service. Matic.network is an Ethereum-based sidechain which can be used to precisely see how many clicks (or impressions) a certain ad campaign has accumulated. This is something ad purchasers greatly desire.
Bitwords also recently included a new feature to their service which lets publishers share their traffic by showcasing articles that they have written in the form of adverts on other publisher domains. This means that publishers can share relevant traffic with each other, therefore improving the effectiveness of campaigns.
Steven Enamakel, the founder of Bitwords and CryptoControl, has commented on the situation, saying, “The main reason we’re able to drive a ridiculously high CTR is because everything in our network is crypto-specific. The advertisers are crypto advertisers, the publishers are crypto-publishers, and they’re both looking for a crypto-audience.”
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.