Java/Mozilla Creator Eich Joins Token Wars

Blockchain, FinTech, News | March 23, 2017 By:

Brendan Eich, who co-founded Mozilla and created the JavaScript programming language, is launching a new reward system that will allow readers to earn a digital token for viewing ads with the Brave browser.

The token, called the Basic Attention Token (BAT), will be integrated with the browser and reward readers who opt to read ads with the ethereum-backed BAT tokens. The idea will be to study reader response and provide more relevant ads to the segments. Publishers can also earn bats when their content is viewed.

The new platform will be funded from the proceeds of 70% of the BATs issued in a coming crowd sale. The remaining 15% of BATs will be assigned to Brave and locked for six months. Existing Brave users will be the remaining 15%, although there were no details on the apportionment. Brave plans to partner with an exchange to provide a way to convert BATs to fiat currency, but no deals have been announced.

“This digital ad system is completely unregulated and there is no secure way, no cryptographic protocol, to know that an ad is embedded in a real publisher page or that a real user saw it,” said a statement from Eich, now the CEO of Brave Software.

Eich claimed in his announcement that any user data will be encrypted and stored in their personal browsers and not held by Brave or shared with third parties. The blockchain will not record individual browsing, but will aggregate numbers and trends.