If we delve into the backlogs of the Internet, we can see that the first posts mentioning blockchain technology appeared on the web way back in 2009, namely when Satoshi Nakamoto published the paper on Bitcoin that implemented this far out, innovative technology.
Now, modern projects use blockchain as a matter of course. Lin Dai, the CEO and founder of the TAP Coin project by HOOCH app, believes that advertising is another frontier that blockchain can improve massively.
Blockchain – Easier said than done
Back in the nineties, an idea vaguely resembling blockchain appeared and it wasn’t celebrated. When the given technology had been applied beyond Bitcoin, no one believed it would exist longer than a couple of years. Even now when governmental institutions think of adopting blockchain, there is always a doubting Thomas who argues that the benefits of blockchain are spurious.
The fact that the public at large finds blockchain technology incomprehensible has not stopped the founder of TAP Coin, Lin Dai, and his team of like-minded allies completely rethinking the existing advertising paradigm and improving it through the use of blockchain with its main advantages: decentralization and transparency.
In the beginning was HOOCH
To understand the scope of Lin’s Dai project for the ad world, you have to know what it’s all about.
HOOCH is a mobile application, which has already become quite remarkable in the field of business. On the market since 2015, it provides real-world experiences and rewards at premium restaurants and bars from New York to Hong Kong for almost 200,000 users. Importantly, the app streamlines the process when searching for new bars, restaurants, hotels, and events. With this, HOOCH provides pleasant perks such as a free cocktail on a daily basis, concert tickets, and exclusive experiences with celebrities, allowing you to live the life of a VIP.
How does this all relate to blockchain? It’s very simple. While encouraging communication among millennials with the HOOCH app, Lin Dai has prepared the ground for the implementation of a brand new blockchain-driven advertising paradigm, where TAP tokens became its fuel.
The advent of TAP Coin
The main idea behind TAP Coin was to overcome the challenges associated with inaccurate and unhelpful consumer purchase data. Credit card companies are those which provide such information to various analytics centers and brands, and they don’t have much incentive to be worried about authenticity or its real usefulness.
But what if we get rid of the middlemen in the aforementioned process? Wouldn’t it be better to get purchase data directly from the users of certain brands and even “pay” them for it? Here is why TAP Coin was created. To monetize consumer purchase data and offer a completely different form of communication with the consumer.
For bars, restaurants, and hotels, blockchain and distributed ledger technologies give a verifiable and trusted record for TAP transactions. Blockchain assures that a TAP token is a reliable way to gain compensation for services rendered, and dual-key encryption ensures that the personal data privacy of HOOCH members is guaranteed.
Brands themselves get a real-time insight, precise enough to draw up a picture of their current customer and develop a well-directed marketing strategy based on consumer preferences.
Another thing that adds value to TAP Coin is the usage of smart contracts. It involves the description of data provided by a customer and the conditions of such a transaction, thus making the whole process trusted and secure.
After all these benefits, it’s fair to say that Lin Dai’s TAP Coin has everything needed to shake the marketing industry to its very core.
AdWeek 2018 Accepts Blockchain
The next step Lin Dai is going to take to promote his idea of a new advertising paradigm based on blockchain is to tell it to those who deal with advertising daily, namely, marketers. And where is the best stage for that? Correct, at AdvertisingWeek 2018, one of the biggest events in the ad calendar, which takes place in New York, on October 1-4, this year.
Lin Dai, CEO of HOOCH and TAP Coin is going to be a speaker on the fourth day of the event specifically dedicated to blockchain technology, which has come into its own in the marketing realm over the last couple of years. From Lin Day’s report Decentralized Advertising – Getting 1-on-1 with 100M Consumers on Blockchain, you’ll get to know how big blockchain is today, how to get to customers that are already on blockchain, and how exactly a brand may use blockchain technology to build a new line of communication with its consumers.
The other speaker, Jordan French, is on the Editorial Staff at TheStreet and a freelance multimedia journalist who covers finance and technology.
Another speech to pay attention to is Ads, Blocks and Rock n Roll where Dai will speak together with Matt Sorum, an American drummer and percussionist, and member of the hard rock band Guns’N’ Roses. They will focus on music and the entertainment industry in general, through the blockchain lens.
These events at AdWeek are a must for every blockchain enthusiast. If you just started to discover the functionality of blockchain technology, why not come and discover more about its relationship with the advertising industry. Come and see history unfolding.