Bitmain, the largest privately owned bitcoin mining company, has invested $3 million in tribeOS. The seed round gives much needed funding to a company that has been operating under an invisibility cloak for the last five years.
On the surface, tribeOs is just another ad tech platform. Dig a bit deeper and you’ll discover that the system is built atop Bitcoin Cash(BCH) public blockchain combined with a peer-to-peer network.
Matt Gallant, CEO of tribeOS, was pretty jazzed about the investment, saying, “When industry leaders like Bitmain invest in a blockchain-based advertising platform like tribeOS, it signals a paradigm shift, not only in ad tech, but for the entire online advertising industry.”
“tribeOS is an open, intelligent, and fully automated digital advertising marketplace launching in 2019 that will disrupt the fraud-infected, confusing and archaic advertising industry by replacing existing cost-per-action and pay-per-click ad tech tools with a permissionless, fully transparent, and blockchain backed solution.”
According to Juniper Research, advertisers will lose $19 billion dollars in ad fraud. Of course, for us average internet surfers, there aren’t many tears pooling on our keyboards. Still, kudos to tribeOS for using decentralized systems to untangle the monolithic advertising establishment.