To Thrive Crypto Needs its Own Ad Platforms

There is no denying that fundamental technologies like crypto need increasing rates of adoption to survive.

The surprise AMA from CH (ref: PGP tech) actually made it abundantly clear that without the support of platforms where we spend most of our online time [for the time being that’s google and social websites], crypto is bound to have difficulties building a momentum.

The correlation of crypto prices with google searches indicates how the market is dependent on the information that is generated on media and online platforms. It also shows how selective bans on certain words or ads [most notably by google and facebook] could have stifled the dissemination of information about this new asset class. This has hit the price/volume growth and by extension affects adoption.

For crypto to thrive, it needs truly independent media platforms. The decentralized virtual islands that are technically impossible to censor, beyond some universally accepted boundaries.

Adoption is key to the success of crypto and it just cannot afford to be at the mercy of incumbents that will most likely lose from its progress.

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Great observation and I agree with your statement that to achieve adoption of crypto, then regular marketing channels will need to be utilized, however when you suggested that crypto needs truly independent media platforms, I feel this may be unrealistic.

I only say this because to further create an independent media platform, to get adoption of this platform there would have to be the use of conventional marketing using existing media platforms, as a way of gaining traction. Which in its self wouldn’t become truly independent?

I feel that for crypto to achieve adoption and thrive, it must achieve a number of tasks:-

Such as breaking away from Bitcoin… now by this, I mean that in the current market, the price of cryptocurrencies are dominated by the price fluctuations of bitcoin. As the majority of people are introduced to cryptocurrency by the curiosity and potential of making a ‘buck or two’ within the market. Then through further research find projects and begin to support the ideologies of different cryptos. So the biggest advertisement, I feel would be the price of ADA becoming independent of Bitcoin and driving its self, this would bring a large number of people in the community just out of curiosity alone.

  • This potentially could be achieved by the continual drive and potential of Cardano and the fantastic work going on within IOHK, Emergo, and now the full co-operation of the Cardano Foundation.

Secondly I feel that to allow crypto to thrive, we there must be some understanding and agreement within the community to identify news that is potentially false “fake news”… I hate this phrase but unfortunately its true. Now I do not believe in censoring news, even if said news is fake, but to invest into some form of system or education that gives consumers a tool to allow them to distinguish between genuine news/ media and media that is false. I feel that there is a massive negative stigma around the cryptocurrency world building for people who are outside looking in, created by the volumes of news claiming you can “make your fortune” in crypto.

  • This I feel may be achieved by many different positive marketing campaigns and educational events highlighting the massive potential and quality of work being done not only here at Cardano but in the crypto space!

Also a further point to add is that Charles isn’t focused on the marketing and uptake of Cardano at the moment but solely on creating a sustainable, scalable and interoperable currency that will be ADA, so when he achieves these goals, I believe the main focus will switch and, they will be focused on achieving adoption

I fully believe in crypto and give my full support to Cardano, however, I do believe that the simplest and best way to achieve adoption, is together. And for each community member to explain in basic terms to even just one family member or friend the benefits of crypto, and remove this stigma of ‘Bitcoin is the only crypto’ and provide a small education about crypto. If this could be achieved then Cardano would soon take off!

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To truly l achieve this its best to have integrate into the current channels.

Creating an independent channel only puts us apparat from the mainstream and that is not what we want, in terms of achieving adoption

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The need for an independent platform is to de-risk marketing channels. Sure you’d have to make ad investmentsin on the current platforms to build awareness about alternative channels, but that’s just an interim step.

The incumbents won’t mind as crypto isn’t part of their business to begin with. So there is a case for crypto google or crypto Facebook, etc.

We have coindesk and telegram as crypto publications but I hear they are pay to play kind of businesses. We need truly independent quality media. The incumbents or pay to play websites won’t provide that.

This is a cutthroat space with a lot of people just following celebrities. Critical thinking is hard to find and objectivity is hard to find. Weeding out fake news requires a huge commitment to from community members to support and promote quality information sources.

Blockchain definitely allows for that. It’s a matter of time before we will have these resources at our disposal, as long as there is a will from the community.

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That’s of course an ideal outcome.

The best way to go about it is to change the media landscape so the media changes or we create/redefine mainstream media.

10-15 years ago Facebook and google were nowhere near the map of mainstream media.

They may not exist 10-15 years from now. Especially if crypto blows their business models up into oblivion.

This landscape is dynamic and we don’t have to be married to current media channels. We can use them to our advantage by building awareness about alternatives.

I definitely feel that this community will have that will and drive once we gain traction and resources!

Just thinking out loud:
Can one enable an ad platform on Yoroi? If successful, it would generate revenue for the treasury and also encourage ADA adoption. Would this be feasible without compromising security? @vantuz-subhuman @SebastienGllmt

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You mean like have ads display in Yoroi? That might discourage people from using it.

Yes. Hmm, that wouldn’t discourage me if security isn’t compromised. But that’s just my opinion and would like more feedback on this by others. Thanks @Steve

Yeah that’s just my opinion. I wouldn’t like a wallet that showed me ads.
Would be interesting to see what others think though.

I am thinking more along the line of crypto exchanges and perhaps even traditional banks that might be interested in putting up their ads.