Published on August 4th, 2018 | by Diogo Costa0
ClearCoin’s new Feature Allows Ads to be Transacted via Smart Contracts
ClearCoin is a leader and pioneer in the adoption of blockchain in the advertising market, aiming to eradicate ad fraud by harnessing all the security features provided by the blockchain technology, thus solving some of the most pressing and urgent problems with the advertising industry.
They have just launched a new feature, which makes it possible for advertisers to directly transact with publishers through the use of a smart contract, with the advertiser being considered the “demand side” and the publisher the “supply side”. To better understand why this new functionality is so important, we need to take a deeper look on what smart contracts are.
In fact, smart contracts are key elements for transactions in the blockchain technology, as they formalize negotiations between two or more parties, without the need for mediating agents. The concept of smart contract refers back to the 1990s and is designed to designate computer programs that can set standards and penalties as safely as traditional contracts.
By solving the problem of trust without the need for intermediaries, smart contracts can reduce business costs, lower consumer prices, and increase our freedom to conduct our own business in a way we think fit – exacty what ClearCoin wants to introduce in the ad industry.
With the power of the blockchain technology and, in the specific situation of this feature, smart contracts, ClearCoin hopes to make ad-related transactions in its platform way more reliable, faster and with immediate payments. This would be a major breakthrough, because traditional contracts these days may delay payments to publishers for 60 to 90 days.
This company is constantly trying to bring the ad industry to the 21st century, heavily relying on blockchain, a technology that has been quite promising lately, generating a huge buzz. This new feature, which actually comes sooner than ClearCoin had anticipated, is undoubtedly a great milestone in the company’s goal to revolutionize this industry.