ClearCoin is a global advertising platform intended to better help advertisers and publishers book and track digital advertising as well as eliminate fraud.
Two issues are driving the development of the platform: The rise of digital-cross platform advertising to rival traditional advertising spend globally and the subsequent rise of fraud within the industry.
Utilizing blockchain technology, ClearCoin’s team – one with a proven track record in both development of ad-tech and raising money for their entrepreneurial efforts – wants to disrupt the problem if not the industry.
Buyers and sellers will be able to meet on a unique, token-enabled platform that will help find the right markets for both while being able to also provide up until now, unparalleled transparency across technologies currently in deployment if not even on the edge of commercial development (like virtual reality).
We recently sat down with Jay Singh, the CEO of ClearCoin to have a chat with him about the project as well as finding out his thoughts and insights.
Hi, Jay. Thanks for joining us today. Can you tell us more about yourself and ClearCoin?
I’ve been building things on the internet for about 14 years. I have built enterprise technology for Fortune 500 companies. ClearCoin has raised over $3 million so far with 10,000 registrations on the site. ClearCoin is platform to create transparency and accountability in the advertising and media supply chain.
You and your team have an impressive background in the ad-tech world. When did you decide to implement a blockchain based ad-platform?
In 2017, we decided to implement the solution.
What was your thought process behind it?
In the years I spent in advertising one of the persistent problems was ad fraud. Blockchain solved the double spending problem for digital currency and blockchain can solve similar problems in supply chains.
Tell us about how you came up with the idea of ClearCoin. You clearly want this solution to be engaged to help fight fraud. When and how did that develop?
Ad fraud and bots are a growing problem in the industry. I worked with many Fortune 500 advertisers in the last ten years and I have become very familiar with this ongoing issue. Distributed ledger technologies present one solution that could bring about new standards in the industry.
What do you think is the biggest problem ClearCoin will solve and why is the problem important to solve? Is it fraud? Or is it actually the ability to track diverse, disparate channels more accurately?
It appears we will solve elements of both. In the process, we will help make corrections to a multi-billion dollar industry.
Editors Pick: ClearCoin ICO
Blockchain accountability can dramatically lower rates of fraud in digital advertising. Digital advertising continues to be a growth industry. In fact, 2017 was the first year that digital ads finally beat TV spending – and the sky if not the pie is still expanding. Digital ad spending reached $209 billion
In the whitepaper, you mention quite a few impressive strategic partners. Are there any you would like to highlight here?
We are able to execute media buys across the biggest platforms in the world and that gives us an advantage from the get-go. We are working with great technological partners to develop this technology.
You plan to offer optimizing services for both publishers and advertisers through your API.Can you give us a brief overview of why such services offer such a range of benefits for clients of every size – and why a smaller firm might be able to optimize to a global customer base?
The APIs are important for accessibility. Making it accessible for advertisers and publishers to plug into already flowing ecosystems.
What has been your happiest moment so far working on ClearCoin?
That moment is creating something valuable and having the world respond in that way.
On the flipside, what has been the most painful, or perhaps the most regretful decision you’ve made with ClearCoin?
Can’t think of any.
Can you brag a bit about your team? You have a very impressive background in ad-tech. Who have your past clients included – and are they participating in this project?
I have worked with many Fortune 500 brands for advertising. From Pepsi to AT&T to McDonald’s. There are Fortune 500 brands that are interested in this project.
Tell us more about how your token will work within the system. What is its function in the platform and what can token-holders expect from it in the future?
The token powers the distributed ledger technology. We will have multiple nodes running to track the quality of ad inventory. The token will power the ledger technology. Smart contracts between advertisers and publishers will have to be executed in tokens. Given there are billions of dollars of media buying every year, we intend to create a good demand for the project.
What do you think is the biggest challenge or obstacle ClearCoin will face? How do you plan to tackle that challenge?
We’re going to put the time in to make the right things happen.
Moving on to more personal stuff, what does a typical day in your life look like?
Recently, we have been growing our team and delegating new responsibilities to grow the business.
Can you express one personal opinion of yours about the blockchain? It doesn’t matter if it’s negative or positive, we just want to hear your thoughts on it.
The blockchain solved the problem digital currency had with double spending. Currencies could go all digital one day because of blockchain technology.
Finally, what other personal goals (besides your career) do you have in life? Is there anything else in life you want to achieve?
That concludes our Interview with Jay Singh
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