Brendan Eich: Brave and The Current Internet Economy
Although you may not be familiar with his name, almost every time that you surf the internet you will come across the technology Brave Browser’s founder and the native cryptocurrency token, BAT.
Eich has resigned from Mozilla, and he is now focusing on the Brave Browser development as CEO at Brave Software.
Eich says that current internet’s monetization system has “mature but troubled” and suggests that the basic attention token will replace fund-raising via sites such as Patreon, or traditional digital programmatic advertising exchanges.
The Basic Attention Token (ERC20 token) on Ethereum is a unit that accounts for human attention. It’s intended to replace the current system of anonymous internet contributions and advertising, which has been reformed. Eich stated that this system can replace the existing web digital advertising system, which is plagued by a variety of issues.”
Eich claims that the $200 billion current global advertising market is inefficient due to its size. Publishers and other sites rely on ads exchanges to make money. This means that there are “excessive” fees because so many intermediaries have a say in it. Eich claims that malware distributors are more prevalent than ever, “buying cheap ads spaces and placing cuddly disguised exploit kit loaders and false advertisements.”
Eich said that you also have the “counter-fraud” which involves fake publishers and bot-played humans who take ad revenue.
Brave Browser prevents website tracking cookies and advertisements by default. Users can also opt to make payments with their preferred content creators or publishers using the Basic Attention Token. Brave Software also has a solution in development that will allow users to opt-in for Brave’s advertisements.
Brave Browser’s history of developing disruptive internet technologies has shown that Brave Browser as well as BAT could forever alter the internet economy. They will also create safer internet experiences for everyone, thanks to Eich.
Ethereum fails? BAT Blockchain can be switched
It would create a huge mess. It could be done. But it would require a military rescue mission. Eich stated that Ethereum is not under such a wartime threat.
Ethereum’s recent price declines have been dramatic. Just last week, it fell to a 1 year low of less than $170. This gives investors a uncertain outlook on the future of this number 2 cryptocurrency in terms of market capital.
Brave Browser Founder: Smart Investors (HODL)
Eich responded to the London Letter’s inquiry about the bear market in cryptocurrency cryptocurrencies such as Bitcoin and BAT, saying that he and his colleagues would like to be like “smart investors” and “we HODL.”
Eich stated, “I believe that’s the way people should use crypto if there is conviction… We’re basically ignoring market conditions.”
Eich and his colleagues plan to continue to push forward regardless of the bear markets and to “try to fulfill our vision of the utility token we articulated”.