Bitmain Technology, China’s crypto mining company, announced it invested $3 million in tribeOS, a digital advertising platform developed on the Bitcoin Cash (BCH) blockchain network.
The company aims to help advertisers and publishers stay away from ad frauds, so the funds will help build the company’s core team and final development of the tribeOS marketplace, due to launch in 2019.
tribeOS is a digital ad platform built on the Bitcoin Cash blockchain designed to erase ad fraud, giving publishers and advertisers the power to run secure, ad fraud-free campaigns online that increases an advertiser’s ROI, deliver the highest revenue share directly to publishers.
Ad fraud is among the most profitable organized crime activities as tribeOS predicts about $51 million on average is lost to ad fraud every day. Recent studies show that up to 60% to 70% of an advertiser’s budget is stolen by spambots, ad waste and click-farms, proving the scale of the problem.
This issue of ad fraud isn’t going away anytime soon and tribeOS seeks to do something about it. The team behind the company has quietly operated for the last five years, building and testing the main technical features of tribeOS, including click-fraud blocking AdShield technology. The technology stops click farms and spambots.
“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 survives. tribeOS will end ad-fraud, allowing advertisers to find their audience quickly,” said Matt Gallant, CEO of tribeOS.