Wednesday, June 13th, 2018, marks the official announcement and launch of the NOIZ project, celebrated with an event in Hong Kong at the entrepreneurial club Mettā.
This event was hosted a month ahead of the token sale’s commencement for the purpose of educating attendees on all things NOIZ.
NOIZ CEO Andy Ann led the presentations with an all inclusive overview of the project. He started by discussing the problems with current digital advertising, quoting an estimate from a Juniper Research report that indicates around 19 billion USD will be lost to ad fraud in 2018 alone. Andy continued by covering three core aspects of NOIZ: cognitive bots, digital ads and social impact.
With modern banner ads generating click through rates (CTR) of around 0.1%, the cognitive bot combined with NOIZ digital ads will increase engagement and CTR of banner ads, thus, increasing the amount of actionable data available to advertisers. What makes the bot cognitive is that it uses machine learning to collect, sort and analyze user interactions and natural language processing (NLP) to constantly improve its conversation abilities.
The digital ad is equipped with Run-time Execution Monitoring (REM) and Passive Monitoring artificial intelligence (AI). These software algorithms work towards filtering out the spambots, click farms and fake consumers that skew marketing data.
Connecting the NOIZ tokenomics to social impact organizations is a key component of NOIZ and one of its many selling points. NOIZ’s cognitive bot Nikola rewards consumers with NOIZ tokens on behalf of advertisers, these tokens can then be redeemed with the advertisers in exchange for discounts on products and services. When tokens are redeemed, they will be donated to social impact organizations. In this model, advertisers receive value through the increased, clean data.
Kelvin Cheung, Chief Research and Development Officer of NOIZ, touched more on the technical side of the project, but also connected NOIZ to a social impact project that uses the Proof of Capacity concept of coin mining to provide those in poverty with universal income.
A panel discussion was also held between NOIZ advisors David Kim, Louise Au and Ellis Gyöngyös along with NOIZ Head of Brand Development Adam Turner.
They discussed a number of questions ranging from “What animal most reminds you of NOIZ?” to “What business areas do you see Blockchain technology having the greatest impact?” Answers ranged from David stating octopuses reminds him of NOIZ, because of the animal’s intelligence to Adam choosing a monarch butterfly because of its migration abilities, reaching far and wide. Ellis had a great answer about how Blockchain technology will improve identity systems and Louise elaborate more on how the advertising industry will benefit as a result of Blockchain.
There will be more NOIZ events throughout Asia coming up in the next month, so be sure to reach out to the team through their telegram channel for more details.
Learn more about the NOIZ project by clicking here and stay up to date on all things NOIZ by joining the NOIZ telegram channel.
