Global leader of Bitcoin mining products backs blockchain ad tech startup
Hamilton, Bermuda — tribeOS is pleased to announce a $3 Million seed investment from Bitmain Technology, leading developer of Bitcoin mining products including ASIC chip technology. Funds will go directly to building out the company’s core team and final development of the tribeOS marketplace, scheduled to launch in 2019.
tribeOS is a digital advertising platform built on the Bitcoin Cash (BCH) blockchain designed to eliminate ad fraud and give advertisers and publishers the power to share contextually appropriate ads with security, privacy protection, and fraud prevention.
Matt Gallant, CEO of tribeOS, noted the far-reaching impact of Bitmain’s investment: “When industry leaders like Bitmain invest in a blockchain-based advertising platform like tribeOS, it signals a paradigm shift, not only in ad tech, but for the entire online advertising industry.”
Bitmain’s funding comes not a moment too soon. $51 Million a day is lost to ad fraud, the most profitable type of organized crime, second only to drug trafficking. Recent studies confirm a shocking reality: on existing digital advertising networks, up to 60-70% of an advertiser’s budget is stolen by spambots, click-farms, and ad waste.
This problem affects virtually everyone who advertises online from small, independent business owners to large digital marketing agencies and even Fortune 500 companies. No one is immune to the growing threat of ad fraud.
tribeOS seeks to reverse that. The company’s primary mission is to eliminate ad fraud and provide advertisers with greater transparency about where their display ads appear, allowing them to increase their return on ad spend. tribeOS also rewards publishers with a greater revenue share compared to existing online advertising channels.
The company has operated under-the-radar for the last five years, building and testing the key technical components of tribeOS, including a revolutionary and proprietary suite of cybersecurity tools called AdShield.
AdShield establishes an impenetrable first line of defense against click farms, spambots, and ad fraud rings. A recent eight-month beta test delivered impressive results where AdShield successfully blocked more than one billion instances of ad fraud.
The tribeOS distributed peer-to-peer network provides “auditable transparency,” making it a perfect use case for the blockchain.
Gallant shared, “Every company doing online marketing has lost considerable amounts of money to scammers on digital advertising platforms. Fortunately, we now see a growing awareness about ad fraud. It’s about time. This has been an invisible crime for far too long.
Platforms like ours will mean that the world’s value creators will no longer need to fight their way to sustainability, hoping to be one of the fortunate few who survive. tribeOS will end ad-fraud, allowing advertisers to find their audience quickly.”
tribeOS is currently working in partnership with the Bermuda Business Development Agency (BDA) to issue its own security token called FIRE. The company is also welcoming advertisers and publishers to register for their beta release group and become the very first users of the advertising marketplace in early 2019.
To learn more about the tribeOS mission to end ad fraud, and gain immediate access to the latest white paper, go to //www.tribeos.io/.
tribeOS, is a blockchain-based digital advertising marketplace designed to help advertisers and publishers run secure, ad fraud-free campaigns online using a decentralized and fully transparent platform. The tribeOS mission is to create the fairest, most transparent, most profitable digital advertising marketplace in the world by ending ad fraud, decentralizing authority, increasing accountability, transparency, and ease-of-use for advertisers and publishers alike. //www.tribeos.io/
Marc Harty, Public Relations Director, tribeOS