The number of blockchain-based projects is slowly becoming ginormous. Whether or not that is a good thing remains to be seen, as not all of these ventures require a blockchain per se. Zohem is a very different type of project, as it focuses on becoming an open-source user behavior data exchange protocol.
The Concept of Zohem
It is evident the digital advertising industry is still growing, yet the underlying technology needs to evolve. With Google and Facebook maintaining their duopoly over 74% of the industry’s growth, things need to change sooner rather than later. This is where Zohem wants to make an impact, as they aim to decentralize the concept of user behavior data through blockchain-based smart contracts. For online publishers, a venture on this scale can be quite significant in the long run.
Leveraging Blockchain Technology
Disrupting the user behavior data and digital advertising industries will not be easy by any means. Zohem aims to use smart contracts so online publishers can pool their data and be rewarded with the native Zohem Data Token in the process. It is a very different take on the data economy as we know it, as there is no longer any need for a centralized entity to control the market.
Publishers can monetize their user data effectively by embracing this decentralized data layer. For advertisers, it improves specific targeting requirements, as the user data is accurate rather than generalized. As for users, anyone can audit transactions concerning their own data, which will provide a lot of valuable insights as to how people use the data you share with the network.
Under the hood, Zohem uses a three-layer data exchange protocol mechanism. Validating the raw data and compensating contributors occurs via the Core layer. The Mantle processes this data and turns it into information people can understand. There is also the Crust, which provides APIs to build third-party apps. It all seems to work together quite well, at least on paper.
The Zohem Data Token
As has become customary these days, the Zohem ecosystem has a native cryptocurrency, the Zohem Data Token. This token will be used to compensate contributors. Advertisers can buy these tokens to make inventory buying decisions. The Zohem Data Token will – hopefully – generate more interest in the platform, which will lead to higher data demand and a greater value for ZDT.
The Road Ahead
There is always work to be done when it comes to blockchain projects, and Zohem is no exception in this regard. As of right now, the focus lies on the public ICO and open-sourcing the code on GitHub. The main net will enter the alpha stage in July. Later this year and throughout 2019, we will see more data points per day to improve the overall use and appeal of Zohem.