What problems does Parami try to solve
By: Parami Protocol
Tags: Web3, Blockchain, Privacy

What problems does Parami try to solve

AD3.0 is a native advertising system based on the Web3.0 concept. It mainly solves the following three problems:

How to establish a user-centric advertising system How to gather the traffic on Web3.0 How to improve the ROI of digital advertising

A User-Centric Advertising System

Parami provides users with a decentralized identity solution based on the W3C standard DID (Decentralized Identity), and aggregates users’ social media identities from other platforms and decentralized identities from other chains under this decentralized identity, so as to obtain a more complete digital identity base.

At the same time, Parami provides users with a light wallet based on social media platforms (Telegram, Wechat) and a DID Avatar solution integrated into social avatars, allowing users to interact with advertisements in the browser of social media platforms and get the revenue credited to their wallets, which is more convenient to use and easier for users to get into.

Traffic Aggregation in Web 3.0

Parami believes that the traffic of Web3.0 is no longer the traffic aggregation based on APPs or websites, but the traffic aggregation based on people (KOL, Creator, Community Owner). Parami will provide social coin-based community member value connection for these DAOs.

At the same time, DAO members usually have a common label, so the advertising and cashing method based on this characteristic will be more targeted. In a sense, advertising for a DAO = buying the social influence of all members of a DAO.

Improve the ROI of digital advertising

We can see that more and more advertising incentives based on on-chain data have already started to be realized. Platforms such as Uniswap and 1inch have already started to adopt an incentive model based on on-chain behavioral data for token incentives. Parami will abstract a user preference data model based on on-chain data on this basis, which will be used for both user incentive marketing of blockchain projects and for the future entry of traditional internet products.

Parami uses zero-knowledge proofs, blind signatures and other privacy computing techniques to build a PCAP (Personal Crypto Advertising Preference) based on user DIDs, which is a homomorphically encrypted user advertising preference profile (user profile), which records the user’s labels and their values in different dimensions. Each time an advertiser gives an incentive to a user (DID), it has the right to rate the user on the corresponding label. Due to the homomorphic encryption feature, this ensures that the scoring process is updated in an encrypted and homomorphic manner. Each time a user interacts with an ad and receives an incentive, the user is actually proving zero knowledge of their tag/label data. This helps cash in on users’ ad preference data while protecting privacy. The advertiser’s payment is actually a reward for the preference data provided by the user.

Obviously, the user’s PCAP profile becomes a shared evaluation profile for all advertisers in the process of rewarding the user for ad placement. This profile can, on the one hand, better record the user’s ad preferences by dynamically updating the user’s interactions with the ads, and on the other hand, reduce the emergence of people just fishing for incentives (an user interacting with all ads does not maximize revenue, but rather will face negative feedback in the scoring process).