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(BAT) - Basic Attention Token

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What is BAT?

The Basic Attention Token is a system created to value user attention, and Brave is the browser that introduces blockchain based advertising solutions. The structure of digital advertising used to be simpler. It was a comprised of advertisers, publishers, and users. Today users are unaware that they actually pay to be advertised to. Mobile data gets spent in the form of bandwidth on mobile ads and trackers. Up to 50% of cell phone data, and 23$ a month is wasted due to ads using bandwidth on your phone. Some popular media sites use up to 70 trackers violating a users privacy. This wastes battery life, causes pages to load up to 5 sec slower, and malware alone is up 132% in one year. Users try to block ads with ad-blocking software we see this on over 600 million PCs, and phones, and the number is rising. Additionally, Coinbase recently announced it would be adding Basic Attention Token to it’s Coinbase Pro platform.

Brave Browser

The Brave browser is built to block ads and tracking software, but is still able to monitor your data anonymously, keeping you private. The (BAT) token is used within the Brave system to reward content publishers for your attention. These methods will reduce digital ad fraud and malvertising. With Google and Facebook taking 37% of all ad dollars and 99% of all growth, revenue for digital advertisers is down 66%, with bots inflicting 7.2$ in fraud last year alone. Recently, Brave had a major overhaul incorporating tor technology to grant users extra privacy features. In addition, the integrated payment system previously known as Brave Payments will now be known as Brave Rewards. The Brave Rewards system allows browser users to send tokens to publishers on regularly used platforms such as YouTube, Twitch, and Websites.

Currently, there are over 10,000 publishers that have signed up to use the Brave Rewards system – Cyber Lion included! In time, Brave Payments will be the core of Brave’s browser technology allowing the browser to show an advertisement to users based on targeting methodology. However, the targeting system will not share personal data with advertisers, or even the Brave company. Which is much different than the scene today. In a recent update, Google adopted a more aggressive data collection model. Previously, Chrome had required users opt-in consent to “sync” data across all devices, but now, users are forced to sign the browser into the account every time they log in to a Google service such as Gmail.

Brave Ecosystem

The Brave browser knows where users spend their time, making it the perfect tool to calculate and reward publishers with (BAT)s. This service creates a transparent and efficient Blockchain-based digital advertising market. Publishers receive more revenue because middlemen and fraud are reduced. Users, who opt in, receive fewer but better targeted ads that are less prone to malware. Because of this system users can be bothered less by ads, publishers receive much more profit for their work, and ads can target individuals much more accurately.

Why BAT instead of Bitcoin?

Some users may be wondering, why not use Bitcoin instead of creating a new token? After it’s launch, Brave Browser had initially implemented Bitcoin as the standard form of payment. However, Bitcoin was too slow and expensive when it was purchased in large amounts to be distributed among publishers, and this issue would have been prevalent on Ethereum and any other blockchain that was no equipped with a utility token specifically programmed in such a way as to incentivize and attract a broad publisher network. Thus, Basic Attention Token was created to solve the issues which were previously encountered by Brave.

(BAT) Team/Advisors

The Basic Attention Token team is lead by the creator of Javascript, and CEO of Mozilla Firefox, Brenden Eich. Their team is made up of other individuals who have held very reputable positions in well-known companies. The team collectively has a well-rounded skill set that includes engineers, quantitative finance, machine learning, and more.

Brenden Eich, Founder, Vision, Strategy –

In 1995, Brenden created one of the most widely used programming languages today Javascript. Later in early 1998, Eich co-founded the Mozilla project while serving as Lead Technologist and a member of the Board of Directors until August 2005, when the project became the Mozilla Corporation. During that time, Brenden served as the CTO, until he was promoted to CEO in March 2014.

Brian Bondy, Co-Founder, Browser Engineering Lead –
Brian created a product that won the best Windows 8.1 browser, including best UI on Laptop/Tom’s Guide: http://blog.laptopmag.com/best-windows-8-browser
Oct 4, 2012:
Launched a preview build of Firefox for Windows 8 Touch
Sept 21, 2013:
Shipped the preview build to Firefox Aurora channel
Feb 04, 2014:
Released Firefox for Windows 8 Touch to Firefox Beta channel

Scott Locklin, BAT Smart Contract & Economics –
Locklin worked as a Research Assistant while at the University of Pittsburgh (Sep 1993 – Apr 1996) and then as a Researcher at Lawrence Berkeley National Labs (Jun 1996 – Sep 2004). In addition, he worked as an Engineer at Vega Vista (Oct 2000 – Oct 2001) and Analytic Engineer at RAPT (Sep 2004 – Jan 2007). Locklin also held the position of Data Scientist at Ayasdi (Nov 2014 – Nov 2015) and co-founded Kerf Software (Nov 2015 – Jan 2017) before joining Brave Software as a Blockchain Engineer in January 2017.

Brave Conclusion

The reduction in jobs caused by the inevitable increase of automation throughout many industries as well as the decentralization of many different processes. One step to prevent economic despair that has been discussed is called Universal Basic Income or UBI. Due to these two economic factors there will be a large need for people to find more adverse ways to generate income. Because large companies use consumer data to monetize their service through ads. There will be a huge need for consumers to change the flow of money away from companies and towards services that pay them for passive usage and data content.

Sources/Links
Website: Click to see website
Whitepaper: Click to see WhitePaper
Roadmap: Click to see roadmap
Partners: BAT confirms partnership with top 3 NYC media company

Investing in cryptocurrencies and Initial Coin Offerings or ICO’s is a highly risky as well as speculative financial maneuver. This article is not a recommendation by Cyber Lion Weekly or the author to invest in cryptocurrencies or ICO’s. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Cyber Lion Weekly makes no representations or warranties as to the accuracy or timelines of the information contained herein.

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(BAT) - Basic Attention Token - January 27th 2018

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