Papyrus is an open source scalable blockchain platform specifically designed to fight all the issues of digital advertising market - fraud traffic, brand safety issues, excessive middleman cuts, and absence of supply chain transparency. Unlike other existing blockchains Papyrus has unique features that make it feasible solution for practical adoption: low transaction costs, privacy management, execution of smart contracts based on large volume of data. Papyrus connects advertisers, publishers, agencies, advertising platforms and verifiers within Papyrus blockchain network to create trust, fairness and efficiency within digital advertising market.
Big Data, Business Services, Cryptocurrency, Infrastructure, Internet, Investment, Media, Platform, Smart Contract, Software
Digital advertising market of $229B is plagued by fraud traffic, brand safety issues, excessive middleman cuts, and absence of supply chain transparency. According to a survey of senior ad buyers worldwide these issues are top of advertiser concerns. Digital advertising market right now is in a pain and requires solution that will improve its efficiency saving billions of USD by making business relationships and payments reconciliation transparent to supply chain participants.
Papyrus is the world’s first scalable blockchain protocol specifically designed to fight all digital advertising issues - fraud traffic, brand safety issues, excessive middleman cuts, and absence of supply chain transparency. Unlike other existing blockchains it has unique features that make it feasible solution for practical adoption: low transaction costs, privacy management, execution of smart contracts based on large volume of data.
On top of blockchain platform Papyrus provides decentralized monitoring and money flow management tools to digital advertisers and publishers, which help them to get visibility on third parties and ad agencies, fight fraud, control money streams and optimize supply chain efficiency. These tools cannot be manipulated by any parties: data for monitoring is stored immutably, money flow management rules are automatically enforced by smart contracts. For example, advertiser can enforce automatic rules that say “fraudulent traffic won’t be paid for and brand safety violations will imply penalties for abusers”. Verifiers connected to the system provide data to verify these rules while blockchain guarantees their enforcement.
By providing these tools Papyrus creates transparency, trust and efficiency within digital advertising supply chain. Papyrus is a neutral solution that doesn’t compete with ad platforms and service providers while brings benefits for all of them unless they are making money in gray area.
Papyrus is a universal blockchain platform specifically designed to overcome the challenges of digital advertising.
Papyrus connects advertisers, publishers, agencies, advertising platforms and verifiers within the Papyrus blockchain network to create trust, fairness and efficiency within the digital advertising market.
· Big data scalability (Execution of smart contracts based on raw data with millions of data points)
· Low costs of transactions (Handling millions of ad events per second requires low costs)
· Privacy management (Advertisers can keep ad campaign data private. But expose aggregated info about agencies, ad networks and publishers to establish their reputation)
Papyrus has launched its Technical White Paper and MVP that consists of an advertising network using blockchain architecture to enable the transparent purchase of advertising inventory. All calculations between advertisers and publishers are controlled by smart contracts with automatic restrictions on payments depending on the quality of results as verified by independent verification service suppliers. The MVP is deployed on Ethereum TestNet Rinkeby and will be launched in Ethereum MainNet after the second Token Generation Event.
The Papyrus Channel Layer is the key feature of the MVP, executing smart contracts over large datasets collected by network participants. The launch has made it possible to test the scalability of the Papyrus solution and prove its applicability to the programmatic ad market, where the number of ad impressions reaches billions every second. Scalability on data and low infrastructure costs are what differentiate Papyrus from other blockchain solutions.
Later this year, Papyrus will launch its open-source blockchain network where the current MVP will be migrated. The Papyrus blockchain network will be an Ethereum fork, which will reduce the cost of smart contracts execution and ensure transaction privacy using dPoS consensus and zero-knowledge proofs. It is a necessity in the advertising market, as media buyers want to keep the structure of their spending confidential. The network will also provide Papyrus developers with a more flexible architecture for modification.
Due to its data scalability and privacy protection capabilities, the Papyrus blockchain architecture offers an extensive range of use cases not only within the advertising industry but for all business applications requiring the secure execution of smart contracts based on large data sets and their analysis, notably with AI models. The potential market for the Papyrus network is enormous. In addition to improving the advertising ecosystem, it can be applied to build high-frequency trading solutions backed by smart contracts, automatic loan issuance based on dynamic scoring, and many other scenarios, including in the Internet of Things market.
The launch of the MVP is a fundamental step in the development of more products using the Papyrus’ blockchain architecture.
How does it work:
Papyrus is a scalable blockchain protocol and platform for execution of smart contracts against large data sets. On top of this platform Papyrus builds a programmatic ad buying solution addressing the major problems of the digital advertising industry. By securely and privately tracking trillions of impression-level events per day and applying smart contract-based ad verification and payment settlement logic, the solution creates transparency and trust between ad market players, provides visibility into end-to-end payment flows, reduces operational costs, eliminates fraud and increases ad quality, ultimately improving end user experience.
The solution features:
1. Channel layer - an off-chain mechanism for collecting, securely storing, verifying and processing raw business transactions data (in particular, execution trace of RTB protocol).
2. Papyrus blockchain - a consortium dPoS blockchain based on Tendermint BFT consensus algorithm, with support of EVM smart contracts. It backs the operation of channel layer and implements ad campaigns business logic including ad verification and payments settlement rules.
3. Cosmos Network integration - the Papyrus blockchain is built as a Cosmos Zone, connected to the Cosmos Hub to benefit from ready interoperability with existing public blockchains.
4. Dashboard applications providing access to the Papyrus functions for advertisers/publishers, and integration tools for onboarding existing adtech platforms.