Review on Basic Attention Token by Danh Huỳnh Ngọc Công
It got a thumb up from me!
BAT is a ambitious project to disrupt a massive industry like advertisement industry. The idea it offers seem to be very legit and evolutionary, and it already has delivered a very good product. In the long term, BAT will be stay and grow; however, with some of the drawback I pointed out, the future of this project is a big question.
Updated 5 years ago
Rating has not been changed
Negative point: It is really hard to complete the KYC with Uphold as it requires a lot of unnecessary connection between users' identities and the accounts
Pros
- - This token is issued on Ethereum, one of the most secure blockchain in the world .
- - Brenden Eich, the leader of this project, is a professional developer who has much experience in building the product serve for the purpose of computer science. He is involved in very popular projects such as Javascript (a programming language used to building websites) and Firefox (a very popular internet browser with a huge number of monthly active users). Its current success can be inferred to be brought about by its excellent leader
- - BAT has already published their complete product, Brave browser. Brave browser is much faster than Google Chrome or Firefox, starting up a website just takes 1/8 of the other browsers' starting up time. Besides, users who use this browser can decide their actions with the annoying advertisements that usually appear when they surf the internet. They may want to entirely block them or enable them to earn BAT. What's more, Brave browser also respects its users identities as it provides anti trackers feature and incognito mode with highly secure configuration
- - BAT will be used as a medium for publisher payment. The transactions of BAT from different parties on Brave browser will be ensured to be very secure, anonymous, and great in scalability. This surely make BAT ecosystem achieve the main goal of cryptocurrency creation: to deliver the privacy to everyone in the world
- - BAT can be used to pay for contents made with a lot of efforts. Even if they are an article, a video or a meaningful comment. Malicious users can be spotted if the right to post or to comment is bought with BAT. Also, BAT is also meant to be used for purchasing goods on the internet.
- - It benefits the advertisement economy very much. Firstly, publisher can reach a large network of advertisers who really need to get their advertisement reach a big number of audience. By this, the revenue of the publishers will increase significantly. With Brave Attention Metrics, they will have more insight of their publication; they will have the data on the engagement and the data on trusted advertisers. Their business will be adjusted in according to the data they have. More profit, less fraud. Secondly, all advertisers now can be matched to the advertisement services that meet their budget and corporate with the publishers of the right market. This will be more efficient than the traditional ways of finding the good and suitable publishers. Finally, advertisement watchers are paid with BAT. This gives them a strong motivation to have an overview look on the products.
- - A great incentive system was integrated to the ecosystem of BAT. This is the main element that fuels all the projects and the new era of attention advertisement industry
- - There is a big community who back the development of this project
- - It has established partnerships with many giant companies such as Uphold, Dow Jones, Media Group, Townsquare, etc.
Cons
- - The success of the whole ecosystem of BAT depends on the popularity of Brave Browser; however, there have already been many big name on the playground such as Google Chrome, Firefox, Opera or Microsoft Edge. Brave needs to go supper advance to wow its users so the whole ecosystem will be known by many people
- - Facebook, Google, and many other big names have been dominating the advertisement industry in recent years. They are really strong competitors with many big advantages. However, anything can happen as the concept of BAT is truly brilliant
- - The big problem with this token is whether it is centralized or decentralized. It is wondered what portion do the company is really holding
- - The requirement to receive BAT is that users have to do KYC/AML via Uphold service. This is really opposing to the notion of blockchain, but in fact, most of the coins/tokens on the market can prove that they are truly decentralized
