Over $800 million was raised via ICOs in Q2 2017. Coinbase is the number one ranking app in the App Store. The price of Bitcoin has skyrocketed from $781 to $17,775 in less than a year. The blockchain based economy, whether cryptocurrencies, utility tokens, or tokenized securities, has had a massive year.
The core promise of blockchain-based technologies is their ability to provide a decentralized and anonymized system of record that ensures participants a fully transparent and secure means of transaction. When confronting the state of mobile advertising in 2017, which is plagued by billions of dollars of fraud, limited transparency between buyers and sellers, and substantial value loss through intermediaries, blockchain seems like a tailor-made solution.
At Priori, we have long argued for greater transparency and openness in the broader mobile industry, and in fact have made transparency in our own data a fundamental principle of our company. This alignment of vision is a core reason for why we are excited to be a strategic OnXCHNG partner with Kochava.
What is XCHNG?
XCHNG by Kochava is the first open blockchain network for the advertising industry, aiming to:
- Facilitate the workflow of buying and selling ads through a smart contract IO (insertion order)
- Enable the related matching and activation of audiences
- Bolster ad spend efficiency and security
- Adopt a next-generation advertising system of record for all ecosystem participants
- Tokenize the framework to treat digital ads as a true asset class
XCHNG’s core technology lies in the automation of the IO creation process, as well as the delivery of the advertisement, measurement and settlement. By unlocking the data currently hidden in fragmented silos, XCHNG aims to create an open, end-to-end blockchain based network. >> read more here
The OnXCHNG Ecosystem; Priori Data as the first Ratings Provider
In addition to a direct and efficient structure for buyers and sellers of media, XCHNG has been architected to integrate three first-party actor types who support the lifecycle of the IO. These include Measurement, Ratings and Payment providers. The OnXCHNG program supports these advertising ecosystem vendors who build the associated tools and capabilities that enable a seamless and transparent workflow for ad buying transactions.
Priori Data is the first Ratings Provider OnXCHNG. By leveraging our unique capabilities as a provider of benchmark metrics for the mobile app industry, together with our core organizational value and history of transparency, Priori Data will support XCHNG in the ratings of publishers, their inventory, and related fraud to help buyers and sellers understand the reputation and risk of their counter party. Priori’s independent, objective, and data-driven role will be fundamental for driving transparency and accountability on the XCHNG system.
Priori Data is excited to be an early participant in the blockchain enabled ad ecosystem as well as to further our relationship with Kochava. Priori Data clients can already leverage a direct integration with the Kochava Collective to efficiently segment and target audiences in real-time, and XCHNG will enable greater transparency and efficiency on top of that process. We look forward to working with Kochava and the other OnXCHNG participants AerServe, AppLift, Appodeal, Chartboost, DCMN, Digital Turbine, Kiip, PubNative and Parrable to bring a much-needed revolution to the mobile ad tech industry.