BenjaCoin

Cryptocurrency for online display advertising

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BenjaCoin is the cryptotoken for the Benja merchandise ad network, which offers deals from top-tier brands like Nike, Patagonia, and Under Armour. We're offering true ad bid transparency and we're taking the billing cycle from 120-150 days to same-day. Crowdsale ongoing at Orderbook.io.

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Andrew J. ChapinMaker@andrewjchapin · Founder, benjamin
Hey everybody - Andrew Chapin here, Co-Founder/CEO at Benja. Stoked to share our cryptotoken, benjaCoin, which will be the method of payment (and compensation) on our merchandise ad network in 2018. This is especially exciting because we work with top-tier brands like Nike, Patagonia, and Under Armour, meaning that we're bringing some big names into cryptocurrency, and we're addressing some huge concerns by our vendors and publishers especially in the area of ad bid transparency and billing cycle lag-time. Our token sale is on-going at the Orderbook exchange at http://orderbook.io. Happy to answer any questions you might have!
Florian Hollender@floho · Director LSP Digital, COO chain.ventures
@andrewjchapin interesting proposition! Looking at the process flow in your whitepaper, it looks like you plan to serve each impression after checking with the smart contract, and then directly initiate payment (or after X impressions/ time). This will either require you to write each impression to the blockchain (not feasible with current latency/ blocktime), or you have to log the expressions _outside_ of the blockchain, which opens you up to all regular security and transparency issues you have with every ad network/ ad server. Given that I understood your intent correctly, how are you planning to handle this issue?
Andrew J. ChapinMaker@andrewjchapin · Founder, benjamin
@floho You're exactly right about the fact that it is not possible to validate traffic on-blockchain at the moment. Our immediate-term solution is focused on two items: price transparency (so that each party knows they're getting a fair shake, something you don't get from G/FB/etc.), and same-day billing settlement. These two items alone are a huge step forward for our partners - things they're excited about. Of course, they'd be much more excited if we included real traffic validation in that. We're paying close attention, building strong off-blockchain solutions, and we're committing to continuing to research/explore how we might be able to do this on-blockchain in time. We hope that we'll be the ones to crack it, and we think that having our ad marketplace on-blockchain in advance will allow us to make that move much easier once we do figure it out.
Ash Pearson@productpearson · Product Manager - Always learning
I see you raise the problem of bot traffic, an issue that hits all advertising networks, even the biggest such as AdSense. How do you intend to prevent that or reduce it?
Andrew J. ChapinMaker@andrewjchapin · Founder, benjamin
@theashtube Huge problem, and one that isn't immediately addressable via the move to blockchain technology. We're first focused on providing complete transparency in the ad bid process (so that both parties are sure they're getting a fair deal) and closing the 120-150 day billing cycle with our token. With the resources from the crowdsale, we'll build off-blockchain solutions to detect repeat/fraudulent traffic (to work toward a solution in the immediate-term) while keeping an eye on the way that we might be able to do traffic validation with blockchain in the future. The latency concerns are too great at the moment, but this issue is one of our top 3. Sorry if that's a little light on detail -- the short answer is that we're really going to work hard at it and I think that positioning ourselves as a fully functional blockchain ad network (with real partners, publishers, etc.) will help us move quickly once blockchain-powered traffic validation becomes viable.
Cou Kalantary@couroche1
As someone who uses the Benjamin deals app on the regular, Congrats on your new product!
Andrew J. ChapinMaker@andrewjchapin · Founder, benjamin
@couroche Thanks Cou!