Constellation Network has chosen Alkimi as a flagship project for its long-anticipated Hypergraph blockchain. Alkimi is a project founded by advertising pros with the aim of reducing the 49% of $340 billion wasted in advertising dollars due to the current inefficiencies of the system.
Constellation’s Hypergraph is a Direct Acyclic Graph (DAG) using the L_0 Token Standard, and its potential to outpace the performance of current blockchain tech as well as its compatibility with existing technologies makes it a contender for disrupting entire industries. With the partnership of Constellation Network and Alkimi, it looks like advertising will be the first industry DAG tech transforms.
Advertising Suffers from a Broken System
Advertisers have always been on the lookout for ways to increase the value of their spend, and the internet has consistently proven itself a useful tool for this purpose. However, reports are widespread about the largest advertising networks in the world, Google and Facebook, being sued over shady practices.
Additionally, there are more and more reports about Chinese click farms manipulating advertising statistics by means of multiple devices splayed out before workers who play whack-a-mole to raise clickthrough rates. The lengths people will go to make money through fraud are outstanding, and this contributes to inefficiencies in advertising that not only lead to advertisers needlessly spending more money but users facing more ads than necessary.
Hypergraph Brings Accountability to Advertising Spend
Alkimi has discovered a compelling way to vet advertising dollar spend and bypass unscrupulous behaviors by staking DAG, Constellation’s native token, in order to do business. This brings the benefits of decentralized technology, namely transparency, efficiency, and security on a large scale to the advertising industry. For tech, this partnership also brings substantial benefits to Constellation Network by proving a powerful use case for its utility token. For years, proponents of blockchain technology have been touting such possibilities, and now a real world use case has come to fruition.
According to Neil Bruce, CCO of Alkimi Exchange, “Once we discovered Constellation, we realized that the Hypergraph was the only way to solve the problems facing our industry, from undisclosed margins, to fraudulent inventory and complete audibility of the supply chain.” Benefits for advertisers will equal benefits for users as well. Marrying DAG technology with advertising should mean that users will see more targeted and relevant ads while seeing less advertising in general.
An Exciting Future Beckons
Alkimi is one of the first projects launching on Constellation’s Hypergraph, but it will not be the last. Forbes reported three years ago how blockchains have the ability to disrupt industries in a big way, and today we see this possibility becoming reality. Future use cases for Constellation’s technology will be explored beyond advertising, and it will be exciting to see how Alkimi’s use of decentralized technology pans out. It could be a bellwether for other industries adopting Constellation’s technology this year.