Tag Archives: blockchain

IDB Citi Pilot Cross-border Payments To Dominican Republic On Blockchain

IDB, Citi Pilot Cross-border Payments To Dominican Republic On Blockchain

By RTTNews Staff Writer | Published: 4/16/2021 10:38 AM ET

The Inter-American Development Bank (IDB) and Citi Innovation Labs have successfully completed a proof-of-concept (PoC) to make cross-border payments from the U.S. to countries in Latin America and the Caribbean, using blockchain and tokenized money. The platform provided full traceability of the transactions, exchange rates, and fees on blockchain.

The platform used the IDB-backed LACChain Blockchain Network, a public permissioned consortium blockchain, to execute the pilot. LACChain Networks are public and open to any entity in Latin America and the Caribbean.

For this PoC, Citi played the role of the bank holding the funds, the IDBs headquarters in the U.S. played the role of the sender of tokenized dollars and an individual in Dominican Republic played the role of recipient of tokenized Dominican pesos.

Meanwhile, LACChain provided the blockchain infrastructure and developed the back end, the smart contracts and the integrations.

The IDB deposited funds denominated in dollars in a Citi account, which were held, tokenized, and transferred using digital wallets. After being tokenized, these funds were converted to local currency, Dominican pesos, with the exchange rate established by Citi.

The exchange rates, payment status, and fees were traceable and transparent at all times as the transaction could be checked in the LACChain Blockchain.

The pilot demonstrated cross-border payments between entities in different countries that involve currency exchange, using digital money represented by tokens. This type of solution, in addition to its potential for cross-border payments, may have a potential impact on vulnerable groups, enabling enhancements in applications such as remittances.

The IDB Group focuses on improving the lives in the region by financing development projects. It is a leading source of long-term financing for economic, social, and institutional projects in Latin America and the Caribbean.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Cardano Founder Spills The Beans

Cardano Founder Spills The Beans on “Fakeness” of Silicon Valley

By Samuel Wan – April 15, 2021 in Cardano Reading Time: 3min read

Cardano founder Charles Hoskinson said he chose Wyoming to base Input Output Global (IOG), and not Silicon Valley, because of the Valley’s “unhealthy” environment.

The comments dispel the notion that tech firms need Silicon Valley to “make it.” What’s more, his candid account of trying to integrate into that culture delivers a humbling that some say is long overdue.

Silicon Valley Fosters “Unhealthy” Living

Silicon Valley is found in the San Francisco Bay Area’s southern region and acts as a global center for technology and innovation.

It’s home to many established high-tech companies, including Google, Apple, and Adobe, to name a few. As well as thousands of startups looking to benefit from proximity to these giant megacorps. In particular, the venture capital money that’s flush in the region.

“In 2020, $156.2 billion of venture capital was raised in the U.S., PitchBook reports. Of the total, 22.7% of the dealmaking occurred in the Bay Area, and 39.4% of deal value was invested in Bay area-headquartered companies.”

Having said that, Silicon Valley, and the VC industry, have not been immune to the panic situation. A report by Pitchbook on the VC outlook for 2021 states the Bay area’s share of total VC count will fall below 20% for the first time in history.

Add to that the rise in remote working and the subsequent exodus from the high cost of living cities, and there are fewer reasons why tech firms would want to set up base in Silicon Valley.

When asked why IOG, formerly IOHK, didn’t locate in Silicon Valley, Hoskinson said he felt the pull when starting as an entrepreneur. But having spent a week there integrating into the culture, his experience was far from positive.

“… What I saw over eight years ago was a very, for the lack of a better term, unhealthy environment. There was copious drug use, a lot of people were sleep-deprived. And there was this endless desire to be something. And most of the people I met were so thoroughly fake, there was just no notion of a genuine person…”

Cardano Benefits From Slow Pace of Wyoming Life

IOG relocated its headquarters from Hong Kong to Wyoming in 2018. The state economy of Wyoming is heavily tied to mineral extraction, tourism, and agriculture, especially cow and sheep farming.

But in 2019, Wyoming enacted 13 blockchain laws making it the only U.S. state with a welcoming legal framework for blockchain companies to flourish.

Speaking on why Wyoming is preferred over Silicon Valley, Hoskinson said the lifestyle and work-life balance are more in line with his way of being, which can be summed up in one word, authentic.

“What’s so magical about that lifestyle I have is that after my workday ends, I go to my farm. A farm is like the ultimate truth factory. There is no bullsh*t when you’re in agriculture.”

The panic situation has forced many to reconsider what is wanted and important in life. And living in nature is a lifestyle trend that’s gaining favor among those done with big city living.

Source: ADAUSD on TradingView.com

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The original article was written by Samuel Wan and posted on NewsBTC.com.

Article reposted on Markethive by Jeffrey Sloe

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Riot Blockchain Set To Boost Total Hash Rate To 77 EHs By 2022

Riot Blockchain Set To Boost Total Hash Rate To 7.7 EH/s By 2022

By RTTNews Staff Writer | Published: 4/9/2021 10:14 AM ET

U.S.-listed company Riot Blockchain, a former biotech firm now focusing on bitcoin mining, is set to almost double its miner fleet and boost total hash rate to 7.7 exahash per second (EH/s) by 2022 after executing the latest purchase order for an additional 42,000 S19j Antminers from Bitmain Technologies Ltd. at a total price of approximate $138.5 million.

The deployment of these next-generation Bitmain Antminers will add an estimated 3.7 EH/s to Riot's existing and planned fleet of miners.

This level of growth represents a 93 percent increase over the Company's previously estimated committed hash rate capacity of 4.0 EH/s by October 2021 after a purchase order for 15,000 S19 Pro and S19j Pro Antminers was made out in December 2020.

"By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the Company's and the United States' share of the global network hash rate," said Megan Brooks, COO of Riot.

Riot is scheduled to receive a minimum of 3,500 S19j Antminers on a monthly basis starting in November 2021, and will continue through October 2022.

The additional Antminers will expand Riot's total fleet to 81,150 next-generation Bitmain Antminers and boost its total hash rate capacity to over 7.7 EH/s by November 2022 from the previously announced 4.0 EH/s.

Ninety-five percent of the fleet will be the latest generation S19 series model. The S19j operates at 90 terahash per second (TH/s) and consumes 3,100 watts of energy.

With all miners fully deployed, the company's total fleet is expected to consume approximately 257.6 megawatts (MW) of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH).

The global shortage of semiconductor production amid the pandemic combined with the recent increase in demand for Bitcoin mining has hampered the ability for many miners to grow their hash rate. However, Riot has entered into nearly $230 million in purchase contracts for miners since late 2019.

In April 2020, Riot Blockchain relocated its mining operations under a co-location mining services contract executed with Coinmint, LLC, claimed to operate the largest digital currency data center in the world. The co-location at Coinmint's Massena, New York-based facility is expected to reduce direct mining production costs, maximize hash rate, and provide expansion opportunities.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Tech Mahindra Offering ‘Stablecoin-As-A-Service’ Solution To US Banks

Tech Mahindra Offering 'Stablecoin-As-A-Service' Solution To US Banks

By RTTNews Staff Writer | Published: 4/7/2021 10:58 AM ET

India's Tech Mahindra has partnered Dutch blockchain startup Quantoz to launch "Stablecoin-As-A-Service" (SCaaS) blockchain solution for global banks and financial institutions. The solution will enable lower transaction processing costs, bring-in military-grade security and drive faster settlements on blockchain.

The Indian technology company is primarily targeting U.S. banks and financial institutions with the Stablecoin solution after the Office of the Comptroller of the Currency (OCC) recently authorized federally chartered US banks to use Stablecoins for standard banking functions like payments and transactions.

As part of the solution, Tech Mahindra will help customers integrate Quantoz' NEXUS platform into their legacy infrastructure, which will enable automated token, crypto and fiat transaction processing for a variety of banking and payment functions.

The platform will also be capable of handling multiple functions like loyalty management, remittances, ecosystem payments and treasury management.

The usage of Stablecoins as a payment mechanism has significant potential to reduce transaction costs and processing time, while providing auditability and enhancing security for digital payment through the use of the underlying blockchain technology.

The OCC's authorization is expected to accelerate the regulated use of blockchain and has the potential to boost its adoption across banking vertical. It will also spur demand and drive innovation in global payments.

Stablecoins are digital tokens that offer stability by pegging their value to certain assets like fiat currency or commodities. In addition to optimizing digital payments, stablecoins also enable enhanced functionalities like IoT (Internet of Things) payments, micropayments, programmable payments and cross spending across payment ecosystems.

Quantoz said it has always focused on the interface between the classical financial world and blockchain technology. It has previously successfully cooperated with TechMahindra on other projects like blockchain-based digital payment solutions.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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NFTs on Cardano

‘Wild west’ as developers MacGyver highly popular NFTs on Cardano

Even without smart contract functionality, Cardano developers have found ways to mint and sell NFT collectibles.


Image courtesy of CoinTelegraph

            APR 02, 2021

Despite not yet having functional smart contracts on the layer-one, intrepid Cardano developers have recently hacked together methods to mint bootleg nonfungible tokens. These experiments in hosting unique data on the blockchain are reminiscent of the pre ERC-721 standard era for Ethereum — and, what’s more, so far they’ve proven to be enormously popular with token drops routinely selling out.

In a post on Reddit today, ADA Technology Management (ATM), a staking pool operator for Cardano, revealed what they claimed to be two NFT images they’d minted on the chain. In the thread the company said they were planning to offer NFT minting as a service to pool delegators.

The so-called NFTs come with a number of caveats, however. Because Cardano doesn’t yet support smart contracts or have a NFT token standard, in order to create a NFT users mint a native token one-of-one native token.

“Tokens on Cardano are native and are on the same level as ADA. Instead of smart contracts, so called "minting policies" control the flow of a certain token group. NFTs are basically tokens on Cardano with a quantity of 1,” explained Alessandro, the self-described “brains” behind SpaceBudz, a Cardano-native collectibles project and the author of a Cardano Improvement Proposal to establish a Cardano NFT metadata standard.

Developers can then embed in the token metadata a link to an Arweave and/or InterPlanetary File System address where an image is stored. One example NFT shows that the “metadata” section of a mint transaction includes a link to a IPFS address which displays the associated SpaceBud. The end result is a wholly unique token permanently recorded and transferrable on the Cardano blockchain — a NFT by many, if not all, definitions.

Thriving community

Despite the extra hoops developers have to jump through to create them, the NFTs have proven to be enormously popular with users.

According to Alessandro, SpaceBudz sold out all 10,000 NFTs in just three days at a price of 50 ADA per, and there’s already an eager secondary market where especially rare SpaceBudz have sold for as high as $40,000.

Even before SpaceBudz, CardanoKidz was working on Cardano-native NFTs as early as August 2020. Multiple pre-sale rounds sold out “within hours of launch,” according to Zac, a member of the CardanoKidz marketing team. One Satoshi-inspired Kid sold for 32,000 ADA even before the tokens were minted, and the NFTs themselves went live in late March.

Zac credits tools like a community-developed token and minting policy tracker for helping to make developers’ lives easier. The official Cardano developers, IOHK, appear to be embracing the new vertical as well, as lead engineer Polina Vinogravoda gave a quick tutorial on minting NFTs on the chain on Tuesday.

A host of other projects round out the upstart ecosystem, including CryptoPunk-inspired CardanoBits, and minting platform CNFT. While still rudimentary, the NFTs on Cardano are cheaper than those on Ethereum as well: minting a native token costs roughly 2 ADA, or $2.50.

While the developers working in this nascent community have managed so far, ultimately they’re excited for smart contracts to make their lives easier.

“We can’t wait for smart contracts to arrive for more functionality but we had JUST enough tools and experience to make NFTs work on Cardano,” said Zac. “It’s been an incredible journey so far.”

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Original article posted on the CoinTelegraph.com site, by Andrew Thurman.

Article re-posted on Markethive by Jeffrey Sloe

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Solar Power Credit Can Get You A Slab Of Beer On Blockchain

Solar Power Credit Can Get You A Slab Of Beer On Blockchain

By RTTNews Staff Writer | Published: 3/31/2021 10:59 AM ET

Australia's Victoria Bitter has launched a Solar Exchange, which will enable beer lovers to swap their excess solar energy credit for slabs of Victoria Bitter beer. The offer will run through four quarters until 31 March 2022, during which a maximum of 30 slabs can be claimed.

Victoria Bitter has partnered energy retailer Diamond Energy and blockchain-powered energy trading company Power Ledger to develop the Solar Exchange.

The Solar Exchange program allows participants to exchange credit on their power bill, obtained from generating excess solar at home, for Victoria Bitter beer. Every $30 worth of credit can be exchanged for a slab of beer, which is then delivered straight to your door.

Power Ledger's blockchain-powered software will help the user to receive the excess energy data and the user can begin tracking their beer exchanges.

Victoria Bitter is one of the best selling beers in Australia produced by Carlton & United Breweries, a subsidiary of Asahi. A slab is an Australian slang for a carton of 24 beers.

Last year, the company began brewing Victoria Bitter beer under the Australian sun by brewing it with 100% offset solar energy. This program is a way to thank those who have made the effort to go solar.

Beer lovers can quickly sign-up quickly at www.vbsolarexchange.com.au to participate in the program as there are currently only 500 spots available. In order to participate in the program, consumers need to switch to Diamond Energy as their energy retailer. The program is available to residential householders only.

This program is part of Asahi's ambitious sustainability agenda, which includes the commitment to be powered by 100% renewable electricity by 2025. Victoria Bitter will receive the solar credits it obtains under the exchange from Diamond Energy and re-invest them back into the program or towards the business' broader sustainability goals.

In 2018, the company adopted renewable energy as the way forward with the signing of a 12-year Power Purchase Agreement for 74,000 MWh per year of renewable energy from the giant solar farm outside Mildura.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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Millions of Africans to benefit from Cardano’s expanding ecosystem

Millions of Africans to benefit from Cardano’s expanding ecosystem

By Nick James – March 21, 2021

Cardano is making more headlines as it scores points in getting allies in Africa. So far, Africa has been largely untouched by most blockchain-based tech companies, but Cardano seems to have identified quite an opportunity in the continent. The news was broken by IOHK CEO, Charles Hoskinson, in a short YouTube video.

According to Hoskinson, Cardano is working with various African governments to develop digital entities that will open the gates for millions of people to benefit from the expanding Cardano ecosystem.

Forming New Markets

Going on, Charles opines that this move will greatly contribute to helping millions of Africans that have had no prior access to digital resources and services in setting up with these long-awaited growth opportunities. These benefits will include the creation of digital identities that can be linked to rich metadata, digital wallets, and payment systems.

Granted, this is likely to result in the emergence of a new larger market based out of the digital age. Charles estimated the new market in Africa to total around $5 trillion, something that makes this a high priority for the Cardano ecosystem as a whole.

Africa is Not Poor

Charles Hoskinson doesn’t believe that Africa is a poor continent as mostly portrayed on the global stage. According to him, it’s the lack of proper resource utilization that has stunted its growth.

With a new, more advanced system, the African economy will get the chance to prevent bad decisions and curb mismanagement. This way, the real wealth in Africa can be accessible to all since there will be more accountability.

Lessons From China

In Charles’ opinion, Africa’s current economic status is a parallel to China’s a few decades ago when most people on Wall Street thought of China as a poor country.

Once China put in place measures to facilitate smooth wealth utilization, the country’s economy sprung out and has achieved steady growth for decades. China is now one of the largest economies in the world.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Nick James and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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BANNER IMPRESSIONS EXCHANGE REVIEW

BANNER IMPRESSIONS EXCHANGE REVIEW

 

Understanding The Metrics And Strategies Of Marketing 

There are many facets to Markethive – It is a complete Market Network and broadcasting platform with a Social Media interface. It has everything you need to succeed in whatever you do online, including the potential of extra revenue made available to Entrepreneur One (E1) associates through the first of many upcoming money machines – The Banner Impressions Exchange. 

It is a concept and unprecedented innovation where Markethive returns 100% of the ad-revenue into your pocket. There have been 20+ years of high energy poured into Markethive. This is a Divine inspiration and places all of the members of Markethive first and foremost. 

It’s been almost a year since the launch of the Banner Impressions Exchange (BIX), with many seeing great results on both fronts.

  1. Selling impressions on the exchange.
  2. Banner advertising campaigns

Still, many are still unfamiliar with the strategies of metrics and the unique system Markethive offers by sharing its significant and ever-increasing traffic with the community. Given that it’s coming up to the first anniversary of BIX, I thought it appropriate to revise and update the Banner Impressions Exchange features and benefits and how you can maximize your marketing efforts by understanding the metrics.

 

Markethive Banner Impressions Exchange (BIX) Overview

The Banner Impressions Exchange is a system that delivers to the media buyer a transparent value for their impressions in an exchange-type environment. This ensures open market principles, allowing anyone who wants to advertise their banners on all of Markethive’s domains to buy impressions from the exchange, similar to purchasing coins in a coin exchange. The market sets the price. 

This means that the CPM (Cost Per Mille = 1000 impressions) you pay is based on the market setting the price based on demand, effectiveness, and availability. This also means third-party sites can join the Markethive Banner Impressions Exchange to put their impressions up for sale based on the same principle of supply and demand and the free market driving the value accordingly.

The BIX is part of the Entrepreneur One Upgrade arsenal, where an equal share of impressions derived from Markethive’s massive traffic is allocated to each E1 member every month.  An E1 member can create a Banner Ad business within the Markethive system by reselling their impressions on the exchange for any member of Markethive to purchase. If you do not need to use them yourself, why not sell them?  

Furthermore, the remaining impressions allocated for any given month are rolled over to the following month. This means that if they are not assigned to a particular banner advertisement or sold to a buyer within the current month, they can be used the next month along with the new allocation of impressions. 

However, the end goal is to utilize this commodity by either placing your banners on prime real estate or on-selling them to someone who wants to use them. It’s not practical to hoard your supply of impressions – they are a limited resource to an ever-expanding market. The demand is going to continue to increase.

Forms of payment for impressions can vary and are at the seller’s discretion; however, choosing MHV, Markethive Coin, as the transaction process is straightforward, as payments are automated within the system. The other methods such as BTC, ETH, Paypal, and others are done manually and need to be managed by the seller.

Banner Advertising Campaigns

This banner service is for Entrepreneur Level Members Only and all members that have purchased banner impressions through the BIX

In other words, anyone who is holding impressions in their Markethive account can create a banner that is displayed on what is considered AAA online real estate. The complete Markethive Network includes all pages, websites, and the many domains Markethive owns. This means your banners are viewed not just by members within Markethive but also by the vast internet traffic and onlookers. 

Important to note: Some specific guidelines and qualifications need to be followed when creating a banner: 

  • Ensure your banner is sized to 960px x 80px.
  • Use images with white or transparent backgrounds.
  • Images must not touch the border and can only be 20% of the banner area.

For more clarification on the banner creation and the guidelines, please refer to MARKETHIVE BANNERS SLIDES AND INFOGRAPHICS FREE & AVAILABLE

Keep in mind these banners are viewed on the complete Markethive Network and all other systems we have, so the number of impressions any banner receives will be exponential. 

Understanding The Different Metrics

Many randomly post advertisements hoping they bring results without knowing the statistics of the process. Sorting out the data produced by an online advertising campaign can be an intimidating task, especially if you’re new to online advertising. If you’re a marketer, you will have heard of the terminology used to measure online ad campaign statistics. Still, it’s not always clear or understood how they are differentiated and why all metrics are equally important. 

Many understand the importance of social media engagement; however, when it comes to strategy, it’s critical to know the difference between the key terms or metrics that are frequently used, as it will help you make sense of your campaign statistics. It’s all about accurately measuring your data to know what’s working and identifying areas where you can increase your efforts or improve on your content where it’s not working so well. 

 

Identifying The Fundamentals Of Metrics  

Reach

Reach is the total number of unique people who can see your ad or content. If 1000 people in total have seen your ad, that means your ad’s reach is 1000.

The advantage of having accounts on various social media platforms and a central system that allows you to broadcast your blog or advertisement to those individual platforms have the potential to increase your reach into the millions. Markethive, with its proprietary blogcasting system, is the springboard and gives you the ability to create massive reach, which is exponential and very powerful. 

For example, If I subscribe to your blog and have 20,000 followers across all my social media accounts, and you have 15,000 subscribers, each with a similar following, your blogs have now been potentially seen by around 300,000,000 people, by-enlarge are not directly subscribed to you. 

Every time you publish a blog with Markethive as the core platform, that article is posted to hundreds, even thousands of social network news feeds and WordPress sites. 

 

Impressions 

Impressions are the number of times your content or advertisement is delivered and displayed on any given website or page. Let’s say that your ad from the previous example above popped up on those people’s screens a total of 3000 times. That means the number of impressions used for that ad is 3000.

Impressions are where your online advertising begins, and most likely where you will see the highest numbers as an impression is generated every time a web page is loaded and potentially viewed. It’s important to note that just because the banner was displayed doesn’t guarantee the visitor saw it. 

It’s a bit like driving past a billboard on the side of the road, the ad is displayed continuously, but it doesn’t mean that you took any notice of it. So, in a sense, every car that passes the billboard would represent an impression, as the potential for the ad to be viewed is there but no guarantee that every driver saw it.

Impressions are typically used for displaying banner advertisements across the internet on any site that allows this type of advertising. This comes at a cost that varies across the board and is usually set by the management of the company website. See some comparisons here. 

This protocol has now been preceded by a new unprecedented system, as Markethive, the social market network and ecosystem for entrepreneurs, has developed a Banner Impressions Exchange (BIX). It is advertising as a non-fungible token built into an exchange.

Are Impressions Important For Your Business?

Yes, they are the very foundation of the advertising process. They are essential for branding campaigns. Awareness is created from impressions, and continuing to drive impressions will be crucial to brand success. Increased impressions will lead to increased engagement and community size.

  • Impressions are the “eyes” that see your ad. It could be as little as a three-second scroll in some cases.
  • Reach/Engagements involve some kind of interaction, usually. But the impression comes first.
  • Lastly, clicks or actions are the most important. That is where your leads, and ultimately, your sales come to fruition.

You can’t have reach or clicks without impressions first. Without impressions, which is the availability to view, there would be no clicks.

 

Clicks 

Clicks are usually seen as the most important step in the online advertising process, as a click means you have an interested visitor and a potential sale. 

A click is recorded when a visitor clicks on your banner, takes them to your website, where a lead is captured, or the possibility of a sale. But when it comes to clicks, relative to impressions, you need the impressions to generate a click, and since not every person who views your banner (which is counted as an impression) will click on it, you will always have more impressions than clicks. 

This ratio of clicks to impressions is measured by what’s known as the click-through rate (CTR). To calculate CTR, simply divide the number of clicks by the number of impressions.

For example, if your banner received 1,000 impressions and, out of that, you got 25 clicks, you would have a 2.5% CTR. The rule of thumb is that a banner with a high CTR effectively grabs a visitor’s attention, while a low CTR banner means that you may need to tweak something about the banner image or ad text to harvest more clicks, hopefully.

Your ideal ad click-through rate takes time to determine. It’s not the same for everyone, and the average CTR also depends on such factors as your industry and keywords and how competitive they are.

Based on the internal data of Wordstream, they’ve determined that the average CTR across all industries in Google Ads is 1.91% on the search network and 0.35% on the display network. The graphic below shows the variation in the average click-through rate for twenty different industries.


Image Credit – Wordstream

 

Conversions 

Conversions are the ultimate goal and end-result that every marketer sets out to accomplish.

Generating conversions means that the purpose of the advertisement/banner has been achieved. The term conversion covers a broad spectrum of actions, including capturing a lead, making a sale, or just having a visitor download an ebook or whitepaper. It’s good to measure the effectiveness of any campaign by determining how many conversions are achieved to how many dollars are spent. This calculates your return on investment (ROI). 

 

All Metrics Are Equally Important

When you’re analyzing your campaign data, it’s not a good idea to draw conclusions based upon only one metric. You always need to consider how each metric relates to the other. 

For example, (1) you may have an ad with an exceptionally high CTR but a disheartening conversion rate. Conversely, (2) you may have an ad that gets very few clicks, but it almost always converts when it does. 

The first scenario is not ideal because you’ll spend a lot of money on clicks but have little to show for it, especially if you’re using pay-per-click (PPC). The second scenario is not okay either because you won’t be able to scale that campaign to any significant size properly.

One of the most reliable ways to determine where best to channel your resources is by using a metric known as “Profit per Impression” (PPI). This metric takes both the beginning being impressions and ending being conversions or (profit) points of the advertising process. It uses them to determine the ultimate viability of an ad campaign. 

This is particularly helpful when participating in Markethive’s Banner Impressions Exchange, where you can purchase impressions for your Banner Ad Campaigns and view the detailed statistics of any given active banner in your BIX section of Markethive. 

 

 

How Do You Calculate PPI? (Profit Per Impressions)

The way to calculate PPI is to simply find out how much profit (not revenue) you generated from a campaign and then divide that by the number of ad impressions it took to produce that profit. 

For example, if it took a total of 90,000 impressions to produce $20,000 in profits, then your PPI would be $0.22 ($20,000 divided by 90,000 impressions). This enables you to see how well your banners perform after all costs have been covered. Campaigns with high PPIs will ultimately be the best candidates for scaling and growth.

By keeping the Profit per Impression (PPI) metric in mind gives you more confidence, and you will be more clear as to which ads will ultimately generate the most profit for your advertising campaign.

Another Factor To Consider – The Rule Of 7 – What Is It?

The Rule of 7 is a marketing principle that states that your prospects need to come across your offer at least seven times before they notice it and start to take action. Your prospects can be exposed to your offer significantly more than seven times, but they need to see it at least seven times.

This helps them remember you amongst an overwhelming amount of marketing messages, other information or clutter, and positions you to get better results from your marketing efforts. It’s not just about banners – social media and digital marketing require a thoughtful content strategy approach. This is accomplished by sharing content, interacting with people, and targeting ads to people interested in what you sell.

Socially-savvy companies like Markethive have the best of both worlds when it comes to marketing your business. It has the social newsfeed and specific storefront groups, inbound marketing tools, and now the banner impressions exchange. This gives you the ability to engage with prospects at every level of the buying process, as it’s been proven that the more positive contact you have, the easier it is to develop and sustain relationships and ultimately attain more sales. 

 

What Can Marketers Do To Capitalize On The Rule Of 7?

So if the Rule of 7 involves encouraging repeat interactions with prospects, how do you do this?

  • Have a very clear idea of who your customers are. Develop a plan to make yourself visible amongst your target customers and know where they hang out or which websites they visit. 
  • Make quality and consistent use of Banner Advertising on high-profile sites with lots of relevant traffic.
  • Have a content marketing plan that gets your prospects to notice you, so you need to provide content they perceive to add value. Your blogs or articles should start conversations and prompt people to want to find out more about you and your product, so make sure you have the necessary calls to action to lead them to where you want them to go. 
  • Amplify your content into social media. Ideally, your content will get you some SEO visibility, but broadcasting your content to the various social media channels will increase your reach. 
  • Have an email nurture campaign. Don’t think of email as an opportunity to make sales. Think of it as a way to help and nurture your prospects and customers. Drive email opt-ins by offering helpful free content so that they can subscribe.

With these initiatives in place, you will start to develop a level of visibility that will mean your prospects are being more frequently exposed to your brand. This can all be achieved and facilitated within the Markethive Platform utilizing its comprehensive range of marketing tools. 

The result will be an increase in brand searches, increasing the number of inquiries, leading to a rise in sales. Don’t expect overnight results; this requires a consistent, long-term effort.

You need to have a bigger picture view to see how all these metrics and systems with all their different moving parts work together, especially when it comes to valuing impressions, clicks, and conversions. The best way to understand how these factors work together and track your results is to test and tweak your marketing campaigns continually. 

 

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Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

KPMG Rolls Out Blockchain-powered Carbon Footprint Tracking Solution

KPMG Rolls Out Blockchain-powered Carbon Footprint Tracking Solution

By RTTNews Staff Writer | Published: 10/12/2020 10:18 AM ET

Big four auditing firm KPMG has rolled out a new patent-pending blockchain-powered solution to help organizations to more accurately measure, mitigate, report and offset their greenhouse gas emission or carbon footprint.

A carbon footprint is the amount of greenhouse gases, primarily carbon dioxide or CO2, released into the atmosphere by a particular human activity. Fossil fuel use is the primary source of CO2, which trap heat in the atmosphere and cause global warming. Organizations around the world are committing and striving hard to mitigate their carbon footprint.

The Climate Accounting Infrastructure (CAI) is a solution that will help organizations track climate emissions as they have been under pressure to boost climate change policies as well as report sustainability practices and results.

The blockchain-based solution will also analyze climate risks associated with asset valuations, and help organizations better assess and employ systems to offset their emissions. It will integrate an organization's existing systems, including IoT sensors, with external data sources to establish a verifiable trail of emissions and offsets recorded on blockchain.

CAI will use blockchain technology to provide a trusted and transparent system to measure, account for, and report on greenhouse gas emissions data in order to help organizations to meet environmental, social and corporate governance (ESG) targets of capital markets investors.

To help accurately measure greenhouse gas emissions, the solution will analyze massive amounts of structured and unstructured environmental data, secure that data on a blockchain, and use machine learning and other AI strategies to perform risk modeling and reconcile across data sources. Organizations and their stakeholders will be able to verify data cryptographically, in real time.

CAI also utilizes the trusted, real-time environmental data and advanced analytics to model the impact of climate risks on business operations and financial performance.

For the effective implementation of the CAI solution, KPMG is partnering data provenance and emission tracking providers such as Context Labs and Prescriptive Data as well as blockchain start-up Allinfra.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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MOBI Designs Blockchain-powered Decentralized Vehicle Charging System

MOBI Designs Blockchain-powered Decentralized Vehicle Charging System

By RTTNews Staff Writer | Published: 10/9/2020 10:21 AM ET

A working group of the Mobility Open Blockchain Initiative (MOBI), led by Honda and General Motors, has released its first technical design specification as a global standard for a blockchain-powered decentralized electric vehicle charging system.

The automotive industry's first global standard for the decentralized vehicle charging system was created and released by MOBI's member-led Electric Vehicle Grid Integration (EVGI) Working Group.

The EVGI Standard was created by a group of global automotive leaders, startups, and large technology companies to solving some of the most pressing climate and mobility challenges.

Apart from Honda and General Motors, the group includes Accenture, CPChain, IBM, the IOTA Foundation, Pacific Gas & Electric Company (PG&E), Politecnico di Torino, and R3.

The EVGI Standard covers the system designs and data schemas required for three core use case areas: Vehicle to Grid Integration (V2G), Tokenized Carbon Credits (TCC), and Peer to Peer (P2P) applications.

The first blockchain-powered EVGI Standard tackles energy and climate challenges by enabling a decentralized, electrified mobility future. However, MOBI's EVGI Standard does not prescribe any particular application or underlying distributed ledger technology (DLT).

The EVGI Standard will ensure that pertinent data attributes and functionalities of each use case are available for organizations to utilize in creating their own applications.

"Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger," said Tram Vo, MOBI's COO and Founder.

MOBI's EVGI Standard enables a set of core network data services that will provide significant value to EV owners, charging infrastructure and grid operators. It will enable secure, decentralized communication and immutable recordkeeping between data generating peers.

This will support data transparency, trust, coordination, and automation among mobility service providers, consumers, utilities, and government stakeholders.

MOBI hopes that applications enabled by this Standard will ultimately help lower carbon emissions, improve road safety, reduce traffic congestion, and support a host of other socially and environmentally beneficial outcomes.

MOBI was formed in 2018 an industry-wide solution to enable all partners to work towards accelerating adoption and promoting standards in blockchain, distributed ledgers, and related technologies.

The cross-industry initiative comprises more than 120 leading automotive, mobility and technology companies including GM, Ford, Daimler Benz, BMW, Renault, VW, IBM, Accenture, Consensys, IOTA, and Hyperledger.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe