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Bigbom Eco, a Singapore-based artificial intelligence pioneer, offers a decentralized advertising ecosystem where all advertisers, agencies, ad platforms and ad channels are able to come together and conduct advertising transactions with one another.
Bigbom Eco addresses the trust between advertising sellers and buyers. Its four key features include a smart contract, a marketplace, transactional savings and Bigbom – a key competitive advantage of Bigbom Eco.
Utilizing the Ethereum blockchain, Bigbom Eco creates a smart contract based on the parties’ agreement on terms and price.
The Bigbom Eco Marketplace is where all sellers are listed. Bigbom Eco creates ratings for the sellers and the buyers create the reviews.
Bigbom Eco minimizes transaction costs by more than 98%; its processing speed can be as fast as 30 seconds.
Bigbom Eco’s advertising system – called Bigbom – optimizes advertising campaigns automatically, managing the campaigns based on KPIs, and automatically allocates budgets.
The Opportunity Expands
Worldwide digital advertising reached $209 billion in 2017, comprising 41% of the total advertising market and surpassing spending on traditional channels like TV, which held 35% of the total advertising market share.
The trend indicates companies are seeing better ROI from online advertising. According to Magna, digital advertising is expected to expand 13%, reaching $237 billion in 2018 and $300 billion in 2020.
Google and Facebook are now the top online advertising providers, with combined revenues of $79.4 billion in 2016 and accounting for 20% of global advertising revenue, according to The Guardian. Other channels like Twitter, with $2.61 billion in 2016, are expected to grow quickly, according to Statista.
New Challenges Emerge
However, advertising buyers face problems with trust, often wasting time selecting the right platform or agency. They have problems evaluating the effectiveness before buying and cannot ensure they will receive expected KPIs.
Sellers, for their part, risk nonpayment for services. Google, Facebook and others are often not able to collect payments due to client accounts not having sufficient funds or credit cards being declined.
Bigbom Eco Creates A Solution
Together with many advantages such as a smart contract, Marketplace and Bigbom, Bigbom Eco brings a new era to the advertising industry.
Bigbom Eco uses an Ethereum DApp to create smart contracts according to the advertiser’s needs. The platform will create smart contracts in language common to both parties.
Upon signing the contract, Bigbom Eco secures the BBO tokens from the buyer to activate the contract, then notifies the seller to implement the advertising services. Reports are then sent automatically to Bigbom Eco via an API, which posts the reports to the blockchain in an encrypted format.
The report then goes to the buyer who can decode the report. The transaction data remains private while stored on the blockchain.
Bigbom Eco evaluates each transaction by comparing the terms of the agreement to the actual results. The buyer can rate the seller’s performance to allow the seller to receive a specified amount of BBO tokens. The tokens are released to the seller based on how well the terms of the agreement were met.
Smart contracts address these concerns by enabling trustless transactions.
Advertisers can feel secure that providers will meet their KPIs. Sellers will not be afraid that customers will not pay for the services provided.
When the contract ends, advertisers are encouraged to rate and review the service providers. Those who give reviews are rewarded a certain amount of BBO tokens. Only those who use a service provider can rate them, which makes the ratings more accurate than other review platforms.
The Marketplace provides important benefits.
Buyers have many choices and know which are better depending on the Marketplace’s rating and review system.
Sellers must improve their services and products to get a high rating and attract more customers.
Bigbom Ads Management Platform – Key Competitive Advantage
Bigbom, a participant in Bigbom Eco, is able to help advertisers reduce 80% of HR costs and save 20% on advertising costs.
When a client requires a project from an advertising provider, the parties agree on the price and KPIs and commit to a service agreement by signing a smart contract.
Advertisers only have to enter a desired bid and the platform algorithms automatically optimize their campaigns.
By creating multiple ads at the same time, the platform reduces ad creation time by 80%.
The platform automatically deactivates ads exhibiting low conversion rates or incurring higher than expected costs. It will allow advertisers to manage advertising campaigns based on KPIs and automatically budget towards efficient channels and campaigns, allowing advertisers to conserve 80% of implementation effort while saving 20% of the cost.
Bigbom uses an auto-optimized platform on a variety of channels including Facebook Google, Instagram and Twitter. The platform removes intermediaries from the decision making process.
Bigbom uses artificial intelligence to manage campaigns according to KPIs, scan thousands of ads every 15 to 30 minutes in each account, automatically raise and lower bids on ad channels, automatically turn off low performing ads, automatically budget between ads in real time, based on performance, and automatically test ads to find the best ads, land pages and ad objectives.
Facebook and Google provide advertising APIs and have policies that encourage third parties such as Bigbom to develop solutions to optimize advertising effectiveness.
The BBO Token
The BBO token is used to pay for advertising transactions on the Bigbom Eco ecosystem.
Tokens with pre-coded prepaid cards allow advertisers to convert to USD, EUR and other currencies into BBO tokens. Advertisers using fiat currencies will be able to use the system easily.
Advertisers will be able to use BBO tokens to pay for ads on Facebook, Google, Twitter and other platforms directly through the Bigbom Eco platform. Any channels not accepting BBO tokens will be paid automatically by Bigbom by converting BBO tokens to USD using prepaid cards.
Sellers will convert BBO tokens to fiat currency and will be able to sell the tokens to their customers via affiliate wallets and on exchanges.
ICO Coming In March
The pre-ICO and ICO will be in March of 2018.
Bigbom will sell 40% of its 1 trillion tokens during its ICO. The balance will be sold during the next 365 days, helping to minimize the number of circulating tokens.
There will be a maximum 1,643,835 tokens per day. The minimum price will be 0.00075 ETH.
Investors owning BBO and holding it for more than 30 days will receive a certain amount of tokens, with the reward paid on the 15th of each month.
Advertisers can buy BBO tokens during the ICO or buy it on exchanges when the ICO completes. As the ecosystem expands, the BBOs rise in value.
For more information, visit: https://bigbom.com/
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