Please describe your proposed solution
The proposed solution is to develop a decentralized self-service digital ads platform and a blockchain-based exchange and wallet platform that leverages Cardano’s blockchain technology to deliver transparency, efficiency, and flexibility to advertisers within OYA's ecosystem and the wider Cardano community. The platform will allow advertisers to place ads across OYA's ecosystem, including ticketing platforms, apps, and digital displays, using smart contracts to facilitate seamless and secure ad placements and payments.
How the Problem is Perceived
Current ad-serving platforms often lack transparency, leading to inefficiencies in payment processing and making it difficult for advertisers to verify ad placement and performance. Additionally, the centralized nature of these platforms results in high costs, payment inefficiencies, limited control, and restricted access for small and medium-sized businesses.
Why This Approach?
By leveraging Cardano's smart contracts and blockchain capabilities, the platform ensures transparency in every ad transaction, automates revenue distribution, and provides immutable records of ad placements. The use of blockchain reduces the risk of fraud, increases advertiser confidence, and eliminates intermediaries, leading to reduced costs.
Additionally, the development of the blockchain-based exchange and wallet platform will enable advertisers and users to utilize ADA seamlessly for ad payments and other transactions within the ecosystem. This exchange and wallet solution, developed by OYA, will facilitate the conversion of various cryptocurrencies to ADA, promoting ADA as the primary currency while also catering to other crypto users. This enhances Cardano's mass adoption and scalability beyond the transportation sector.
Engagement and Beneficiaries
The project will engage advertisers, content creators, businesses, and users looking for a reliable, decentralized platform to promote their products and services. Cardano developers and community members will also benefit from contributing to the development of smart contracts and technical components. The blockchain-based exchange and wallet platform will additionally serve users interested in cryptocurrency conversions, making it easier for them to participate in the ecosystem.
Demonstrating Impact
Impact will be measured through key metrics such as the number of ads placed, total ad spend through the platform, adoption rate of the blockchain-based wallet, and community feedback. By adopting Cardano's blockchain technology, the project will bring more use cases to the Cardano ecosystem, driving adoption and demonstrating the value of decentralized solutions.
Unique Value Proposition
This solution is unique because it development will provide a transparent and decentralized advertising platform that operates without intermediaries, ensuring cost efficiency and secure transactions. It also features a blockchain-based exchange and wallet platform that drives ADA adoption and facilitates broader participation in the ecosystem. This project benefits Cardano by showcasing its capabilities in real-world use cases while enabling OYA to expand its digital service offerings, ultimately contributing to the growth and scalability of the Cardano ecosystem.