Project Targets Fraud in Advertising With Performance-Driven Smart Contracts for Campaigns

A company is creating a smart contract for advertising which it says could potentially ease two major issues that are plaguing the flourishing industry: fraud and a lack of transparency.

SaTT stands for Smart Advertisement Transaction Token, and it has been created by Atayan Inc. Its team believes blockchain could help ensure advertisers are "Not be misled by an underperforming publisher or affiliate that does not meet their expectations."

The platform wants to help the industry "Scale up in a more positive, transparent way" by allowing a campaign's criteria - such as the age and gender of viewers or the number of people an ad must reach - to be woven into a smart contract.

Through SaTT smart contracts, the project hopes it will be possible for advertisers to measure performance using metrics beyond impressions and clicks.

SaTT says its infrastructure could help reduce fraud among all parties involved in digital advertising - and this means publishers have something to gain too.

The smart contract in actionIn its white paper, SaTT says advertisers are going to benefit from a "Simple, fast and powerful tool" which will help them establish the best communication medium for their message and discover publishers who will give them the greatest reach and engagement levels.

Publishers would benefit because they would receive instant payment as soon as they have fulfilled a campaign's requirements, a far cry from the weeks and months it can take to receive remuneration from an advertising agency.

The SaTT tokens they receive can either be exchanged for cash or used to make purchases on a platform known as PayBySaTT, where they would enjoy "Exclusive" products and events.

Some of the most notable brands which rely on its apps include Ikea, Disney, Dove, Tesla, Starbucks, Apple, Netflix, Amazon and Nike.The SaTT smart contract for advertising is set to launch in November 2018, and in the months before this, the company plans to start developing "Oracles" which will allow advertisers to keep track of how their campaigns are progressing.

SaTT's initial coin offering is taking place in six steps from May 1 to July 1, and a bonus is being issued to investors who make contributions earlier on in the process.