OnMogul.com

OnMogul.com

How Knowledge.io ICO Can Improve The Buying Experience

How Knowledge.io ICO Can Improve The Buying Experience

Cryptocurrencies have increased in value over the past few years, but especially in 2017. Their use goes beyond being a store of value. That’s because the blockchain and other innovations are helpful in many ways to advertisers, employers and online retailers.So is there a way to motivate subject matter experts to share their insights and optimize business practices? One startup thinks so. Knowledge.io wants to incentivize proven experts with crypto tokens for sharing their knowledge. Knowledge.io is launching an initial coin offering (ICO) in January and its founders also want to leverage the blockchain to create an information-sharing ecosystem where smart people have their expertise verified so they can improve business processes.”Knowledge.io solves the problem of being able to utilize data that scores how much a person knows about different topics, and records it to a blockchain,” says Marcia Hales, a co-founder.

“We’ve all received report card, some people achieve high scores on standardized tests, people go on to have advanced degrees, but very infrequently do those scores ever matter in your day to day activities beyond your salaried employment or hourly wage as a loose expression of those scores.”The vetting protocol and token rewards gamify the learning process. And in the world of advertising and ecommerce where the stakes are high, stakeholders are always seeking an edge. It’s estimated that nearly one-third of advertising spend go towards fraudulent ad bots or farms, meaning marketers spend billions each year not on people, but on bots artificially inflating metrics such as ad impressions.In online retailing, companies can find it difficult to sell goods using the direct sales approach at a time when consumers trust friends and family to recommend products on social media.Blockchain technology can improve the buying process by preventing ad fraud. Knowledge.io’s platform can also let experts create insightful reviews of products. For sharing their knowledge, they can earn tokens which can be saved, traded or spent in a Knowledge Marketplace.

“Knowledge.io rewards people for what they know and how much they know, and gives people the opportunity to be recognized and compensated for sharing this information with the community around them,” says Hales. “People are able to make better decisions based on expert recommendations and reviews, all while earning KNW tokens for their participation, and even more tokens for overachievement.”In a paper-based environment, people can obfuscate their background or qualifications to attain bonuses, promotions or other rewards. And these distortions can create massive inefficiencies in the economy. However, the blockchain can create an immutable record of people’s identities and their areas of expertise and store the information indefinitely. In a knowledge economy, people can get paid in tokens for using their expertise to help audiences and improve practices.”Innovation in ad tech has been centered mostly around automation of the buying process via programmatic and real-time bidding technologies, with the exception of native advertising which is a reinvention of the advertorial,” says Hales.

“The Knowledge Score idea came from the realization that most data providers in the ad tech space are using different algorithms on a relatively similar set of data. And there’s often conflicting data points across providers.” According to the Knowledge team, advertisers who use the platform can assess different customer segments for their level of understanding. They can then optimize messages based on this data.”People consume content when they read an article, or interact with some consumer product, but this technique cannot use deterministic methods to understand the knowledge level of a user about a topic or set of topics contained within the article or related to a product, service, solution, location, etc.,” says Hales.

“This is a new dimension in the targeting and messaging mix which can be achieved at scale, with a reward component in the form of KNW tokens for sharing this knowledge.”Each year, billions of dollars are wasted on commercials and marketing campaigns that are ill-suited for their target audiences. Experts can be tapped to improve ad campaigns and to ensure that the communication educates and resonates with audiences.Businesses are always looking for an edge in a competitive marketplace. Knowledge is that edge.

Source: onmogul.com/products/how-knowledge-io-ico-can-improve-the-buying-experience

No Comments

Sorry, the comment form is closed at this time.