US social media management platform SocialFlow has announced the launch of its Universal Attention Token (UAT), a blockchain-powered solution designed to monetize digital content.
The UAT ecosystem will be built on the Stellar network which integrates a decentralized blockchain platform in order to minimize fraud and offers a trackable ledger of transactions. UAT aims to provide a solution for ad fraud cases. According to the Statistics Portal, digital ad fraud cases accounted for an estimated loss of $19bn in 2018 from non-human traffic.
"For too long, digital advertising has been a terrible deal for those who create the content," said Jim Anderson CEO at SocialFlow. "The UAT ecosystem will change that by compensating publishers more fairly for the content they publish to platforms such as Facebook, Twitter and Instagram."
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According to SocialFlow, UAT enables publishers to monetize their published content by offering consumers an optimized site with reduced intrusive advertising and additionally offers advertisers and engagement platform with consumer direct ads via a cost-per-action basis.
The UAT ecosystem has been predicted to launch in the first quarter of 2019. SocialFlow, which was founded in 2009, claimed 50 million posts have been made via its platform with a social reach of 1.1 trillion, with 16,000 social pages linked to SocialFlow.