On average, the normal internet user gets bombarded by over a thousand ads every month across all devices. While some users may find respite in sticking to certain web browsers, entrusting their privacy to third-party plugins and applications, or simply steering clear of certain sites. However, with targeted ads being integrated into applications and ad-blockers “unsavory business model”, ad-free experiences have become a dream that died with the Dodo.
The truth is digital advertising is now the new norm. With 4 billion of the world’s 7 billion total population connected to the internet and digital ad spending reached $209 billion worldwide in 2017, online marketing has become a critical tool in the hands of brands and advertisers. However, this tool is often misused and has become the source of many a negative feedback for businesses and a veritable nightmare for users with questionable metrics, mistargeted ads, brand safety, bot fraud, alleged billing malpractices and walled data dogging this industry.
And the source of this recurring nightmare? The inherent lack of transparency in this highly centralized industry.
Selling What to Buy
While major brands and conglomerates can afford to keep spending millions on mistargeted ads and acquiring users’ information from questionable sources until something sticks, small and medium scale business are left gasping for air.
Google and Facebook are the most dominant actors in the digital advertising space, controlling about 60% of the market, while Amazon accounts for 43.5% of total e-commerce sales in the US and together with eBay holds over 50% of the market. With this much stranglehold on the market, it’s no wonder that the over 450 million small and medium businesses worldwide offering products and services that could be marketed and delivered online are unable to capitalize on the vast opportunities online.
A blockchain-based startup, WeBuy, is tearing down these walls and building a new world for buyers and sellers.
Blockchaining the eCommerce Industry
The blockchain is the greatest invention since the internet. It disintermediation and decentralization of all engagement and values through a tamper-proof and immutable ledger system that cannot be own or controlled by any single entity. Leveraging this technology and autonomous smart contracts, WeBuy directly connects businesses to targeted market, enabling SMEs to start selling online, quickly, simply and at minimal cost.
Buyers too are not left out as they can earn a significant amount of passive revenue by viewing relevant ads and have complete control over what they view and how they view it without compromising their privacy.
What’s more, WeBuy ecosystem is anchored by two innovative features; geolocation and a native currency for the settlement of transactions, WBY Token.
Using geolocational features, Sellers will be able to directly target buyers in their environment. Stores can see, communicate, and promote their stocks in real-time to buyers.
Buyers create their own virtual revenue sources by inviting SMEs to join the platform, while incentivizing engagements through the WBY token. In another word, Buyers become on WeBuy, Business Finders and since time is money, Buyers will be rewarded for their time, getting a significant share of the budget spent by their Virtual MarketPlace’s Businesses member.
Reverse Engineering when it comes to the Advertising Industry
The process of bringing large numbers of businesses into a single revenue source would, traditionally, require thousands of agents navigating between personal and professional interests. WeBuy eliminates this redundancy that has held back business potentials for so long through autonomous smart contracts, helping businesses to drastically reduce cost and effectively manage time.
Buyers can decide if and when they want to be reached by ads. For giving these ads their attention, they will be awarded a portion of the advertising fee accrued on the network directly into their wallet.
Any amounts paid by those SMEs for advertising are shared between the WeBuy platform, the Buyer who views the advertisement and the Buyer who introduced the SME.
Developed by a highly-talented and versatile team with decades worth of experiences in marketing, communication, finance, IT, and blockchain technology, WeBuy is the first platform truly created and owned by buyers and sellers.