Digital advertising has multiple problems as users clamp down on intrusive ads by advertisers.
The rise in adblocker installs and compliance with global privacy regulations means that the industry is ripe for a permissions-based advertising model to engender trust and loyalty from users.
Advertisers face significant challenges in click fraud. Reportedly, 40% of digital ad traffic is the activity of bots clicking on ads. By 2022, $44B is estimated to be lost in ad revenue, making click fraud the 2nd biggest organized crime in the world.
Now San Diego, CA-based permissions ad platform Permission.io has released a new feature so that users can own their data and earn for sharing it with advertisers. Most people do not approve of companies profiting from their data and will trade their data for personalisation.
It is releasing its blockchain validator node and blockchain full node, which will enable a blockchain-based opt-in and reward system for users. Permission.io uses a fork of an Ethereum token, its ASK token as the currency for permissions.
Brands and advertisers can take advantage of permission-based digital advertising, which ensures that ads are shown to audiences who have opted in to receive them.
Similar to the compensation model offered by SavvyShares and Killi paycheck, payments are made as rewards for consumer engagement. Users have control over the data they share and are rewarded for what they choose to share.
Permission.io partners will be able to use its validator node, which validates the network, solves the proof-of-work puzzle and maintaining the network's integrity.
Users will be able to run the validator node on a Google Cloud server, which will enable them to participate in the consensus mechanism and earn ASK for running the node.
The Permission.io full node allows users to run a full Permission blockchain node on a Google Cloud server, allowing them to access the Permission.io blockchain in private mode.
The node will verify transactions and blocks against consensus rules so that users do not need to take any extra steps to verify trust in the network.
Charles Silver, Founder and CEO of Permission, said: "Our mission is to lead the web toward a new engagement model, one that enables users to own, control and profit from their time and personal information while engaging with the web as they might normally do."
The company has released a browser extension for Chrome to encourage users to share their data and engage with brands. Users install the extension, browse the web and earn ASK for their data which can then be traded or spent.
It may be some time before the US adopts protocols similar to the California Consumer Privacy Act or the European GDPR for data protection and privacy.
Until then, opting in to share your data could be an excellent idea. Getting paid for sharing your data is even better.