Alkimi Exchange, the world’s first decentralised advertising exchange, announced today (July 21st, 2022) that it is now officially listed on Uphold, a global multi-asset digital trading platform. Built on the constellation network, Hypergraph, a blockchain technology, Alkimi’s mission is to disrupt the current centralised online ad industry by returning the value exchange between publishers, advertisers, and users, to a fair equilibrium.
“Uphold represents the very best of crypto,’’ declared Ben Putley, CEO & co-founder at Alkimi Exchange. “They have a keen focus on doing things the right way to provide trust and transparency in the growing blockchain space. We are proud to be partnering with Uphold as they work with companies at the forefront of crypto; companies utilising blockchain to solve real world issues”. Commenting on the listings implications for the business, he added “Alkimi’s mission to provide more cost-effective, transparent, and greener advertising to solve the plethora of issues currently facing the programmatic ecosystem aligned with Uphold’s values, so it seemed an obvious partnership for us at Alkimi. We are really excited to help Uphold’s community learn more about blockchain’s capacity to improve the digital advertising world.’’
With the online ad space projected to grow to USD$876bn (£731bn) by 2026, the online advertising landscape is still susceptible to fraud, with advertisers losing up to USD$68bn (£56.7bn) in 2022 alone. Due to the centralised nature of online ad exchanges, fraudsters are able to use scamming tactics, costing advertisers heaps of money. The situation is exacerbated by monopolistic competition who take advantage of their position to impose an ‘ad tech tax’, causing publishers to only receive 51% of ad spend on average.
To solve this problem, Alkimi $ADS token was created to act as an on and off ramp for the Alkimi Exchange, allowing access for media buying and selling on the Alkimi Exchange. The decentralised exchange provides security, efficiency, and trust-less validation, that has complete transparency. It gives advertisers the ability to define specific types of data to determine the legitimacy of ads while enabling them to monitor the data in real time, instantly detecting fraud and charging a much lower rate than centralised exchanges. Through the token, a transparent, immutable distributed ledger is created, so every user knows every single impression's transaction data.
Commenting on the announcement, Dr Martin Hiesboeck at Uphold said: “This is just the beginning. Other Hypergraph-related assets, as well as full integration of the constellation ecosystem, will follow in the coming months. We believe that crypto assets, tokenisation, distributed ledger technology, and properly supervised and regulated implementation of decentralised solutions are the future of the economy,”