Saturday, May 15, 2021

Amsterdam-Based Blockchain Startup Attrace Raises €1M

Must read

Supreme Court TCPA ATDS Ruling a Big Win for Telemarketers

On April 1, 2021, the U.S. Supreme Court issued a unanimous decision in the matter of Facebook, Inc. v. Duguid that is...

Is John Monarch Behind a $100 Million Bank Scam?

John Monarch was promoted Heavily by Affiliate Summit Founder Missy Ward, raising lots of questions. The Securities and Exchange commission delivered an early...

FTC Releases 2020 Annual Highlights

On March 25, 2021, the Federal Trade Commission released its 2020 Annual Highlights, emphasizing the agency’s ongoing efforts to protect consumers. “Despite the challenges...

Marketing Fraud Continues to Grow in 2021, and Ad Companies Are Clueless

A new report from White Ops demonstrates that marketing fraud is growing, but that many in the online advertising space may not...
Pesach Lattin
Pesach Lattinhttp://pacevegas.com
Pesach "Pace" Lattin is one of the top experts in interactive advertising, affiliate marketing. Pace Lattin is known for his dedication to ethics in marketing, and focus on compliance and fraud in the industry, and has written numerous articles for publications from MediaPost, ClickZ, ADOTAS and his own blogs.

In a recent announcement, Amsterdam-based blockchain startup Attrace has successfully raised €1 million from investors in a private sale. Attrace has developed its own blockchain system to bring websites and advertisers together in a decentralized manner.

This concerns affiliate marketing, where there is no direct relationship between the publisher and the advertiser. The publisher receives revenue from generated revenue from the advertiser if one of the advertisements ensures revenue for the advertiser. A third party, the affiliate marketer, registers all clicks / leads, calculates the income and usually calculates a commission of twenty percent. Attrace wants to break open the affiliate marketing market and in a short time gained a million euros from private investors to further develop its own blockchain.

Erwin Werring, CEO: “The Attrace blockchain registers every click / lead / referral, regardless of whether an action is subsequently taken by the end user. The big advantage of this is that it makes it impossible to adjust statistics afterwards. This means guaranteed correct payment to performance and full transparency for the publisher and advertiser. ”

Attrace has designed its own blockchain that can store 6000 clicks per second on chain at extremely low costs. The startup develops the blockchain on Golang, a new programming language built by Google.

Attrace expects to be able to realize the first fully autonomous sale on the network before the end of this year. “Attrace has a first in-house,” says Werring. “It is the first blockchain project that can solve the large transparency problem in affiliate marketing. With Attrace there will never be more questions about the reliability of the data and questions about which party has really achieved what sales. ”

Currently the affiliate market in the Netherlands accounts for around 150 million euros per year. The development of the affiliate market started about twenty years ago and has gradually grown into an industry with an annual cost of 12 to 13 billion dollars worldwide.

- Advertisement -

More articles

What's your opinion?

- Advertisement -

Latest article

Supreme Court TCPA ATDS Ruling a Big Win for Telemarketers

On April 1, 2021, the U.S. Supreme Court issued a unanimous decision in the matter of Facebook, Inc. v. Duguid that is...

Is John Monarch Behind a $100 Million Bank Scam?

John Monarch was promoted Heavily by Affiliate Summit Founder Missy Ward, raising lots of questions. The Securities and Exchange commission delivered an early...

FTC Releases 2020 Annual Highlights

On March 25, 2021, the Federal Trade Commission released its 2020 Annual Highlights, emphasizing the agency’s ongoing efforts to protect consumers. “Despite the challenges...

Marketing Fraud Continues to Grow in 2021, and Ad Companies Are Clueless

A new report from White Ops demonstrates that marketing fraud is growing, but that many in the online advertising space may not...

FTC Order Requires Company and Its Owner to Pay $146,249, and Stop Making Deceptive ‘Made in USA’ Claims

The Federal Trade Commission recently announced that a company that sells customizable promotional products such as wristbands, lanyards, temporary tattoos, and buttons,...