AMARK - A Trojan Horse for Crypto Adoption
Cryptocurrency as a payment method for in-store purchases has not gained significant traction. For consumers, there is little incentive to buy crypto from exchanges and then use it to make in-store purchases when there are many other payment methods readily available. For merchants, there are too few consumers making payments with crypto to warrant the additional setup needed to accept it and convert it to fiat. AMARK eliminates these hurdles to adoption by changing how consumers and merchants interact with marketing.
AMARK is a platform that solves three key problems:
- Local marketing inefficiency from the inability to capture customer attention
- The need to collect personal data by marketing solutions
- Poor consumer and merchant adoption of cryptocurrency
Efficient Local Marketing
AMARK began development in 2017 with the goal of improving local marketing efficiency through the application of attention resource economics and consumer preference indexing. Attention resource economics properly treats attention as a finite resource and when applied to local marketing, allows businesses to capture verifiable consumer attention by offering direct compensation for it. AMARK uses marketing response data to understand consumer preferences and accurately measure the value of individual consumer attention. Consumers are delivered targeted advertising through AMARK and compensated for their attention to these offers at a rate that corresponds to their expected future purchases at aligned businesses. AMARK local marketing efficiency improvements are realized through achieving verifiable attention, improved attention quality, data-based consumer targeting and effective distribution.
Blockchain - Ending Personal Data Collection
The consumer pushback against intrusive data collection and resulting governmental privacy regulations created a need for data-based marketing solutions that ensure consumer privacy. In response, AMARK adopted blockchain and cryptocurrency as tools to eliminate ANY need for the collection of personally identifiable information. AMARK uses public blockchain data, overlaid with merchant data, to identify consumer preferences, understand local trends and set a value for consumer attention. Marketing offers and attention data profiles are linked only to blockchain wallet addresses rather than to consumers. Cryptocurrency is the ONLY viable way to privately compensate a consumer for their attention as other digital payment methods expose the identity of the payee. If an individual consumer receiving an attention payment was identifiable via the payment method, then all response and preference data could be easily tied back to that individual, thereby compromising the individual’s data privacy.
A Trojan Horse for Crypto Adoption
AMARK eliminates the hurdles to adoption by changing how consumers and merchants interact with marketing. Merchants will join AMARK to benefit from a superior marketing system that improves profitability. The activation of AMARK allows merchants to purchase XAC through the attention marketing system and distribute it to consumers via targeted advertisements. Consumers receive XAC payments in exchange for their attention to these offers, bypassing the need to secure crypto through an exchange. Once merchants activate the marketing system, XAC is accepted natively through in-store terminals without additional setup.
In our view, a pivot of the local advertising model to attention resource economics will lead to widespread adoption of cryptocurrency by both merchants and consumers.