Papyrus ICO: A review

The world of digital marketing is plagued by problems like fraud traffic, excessive middleman cuts, the absence of supply chain transparency and brand safety issues. Papyrus has come up with an open source scalable blockchain platform that is specifically designed to fight all the problems of the digital advertising market. Papyrus boasts of unique features like low transaction fees, execution of smart contracts for large volumes of data and privacy management. This platform aims to link advertisers, publishers, agencies, advertising platforms and verifiers within the Papyrus blockchain network to ensure trust, fairness, and efficiency within the digital advertising market.

Papyrus describes itself as “the world’s first fully comprehensive and highly scalable decentralized ecosystem for digital advertising which radically improves programmatic advertising stack to provide an efficient, transparent and mutually beneficial environment for users, publishers, advertisers and decentralized applications (DApp) developers using blockchain architecture.” 

Thus, in layman’s terms, what Papyrus intends to do to build a more efficient advertising platform by using blockchain technology. This will cut out the middlemen who charge hefty sums like Google AdWords and Microsoft Bing. 

Papyrus wants to minimize the risks that advertising businesses face from excessive regulation by the government and also criminal attacks and security breaches. According to Papyrus, the present system of advertising is slow and is filled with bureaucratic inertia. So, it wants to develop a new system that will incentivize the developer community to produce more and more efficient applications and which will also cater to the needs of users, advertisers, developers, and publishers simultaneously.  

Papyrus will be providing decentralized monitoring and money flow management techniques to both publishers and digital advertisers which will ensure that they get visibility on third parties and ad agencies. Furthermore, these tools will also help to fight fraud, control money streams and optimize supply chain efficiency. The best feature of these tools is that any parties cannot manipulate them as data for monitoring is stored immutably and the smart contracts enforce money flow management rules. 

Papyrus has launched the MVP. It has made it possible to test the scalability of the Papyrus solution and thus, prove its applicability to the programmatic ad market. 

The blockchain platform that Papyrus is going to launch this year will be based on ethereum, and the current MVP will be migrated there. 

The Papyrus blockchain, due to its data scalability and its ability to protect privacy, will be able to cater to different business applications that require the secure execution of smart contracts based on large data sets and their analysis, most probably with models based on AI. 

The different features of this platform include:

Channel layer: an off-chain mechanism that collects, stores, verifies and processes raw business transaction data

Papyrus blockchain

Cosmos Network Integration

Dashboard applications

Token Distribution

PPR token is the central element of the Papyrus decentralized application platform

Overall, 1,000,000,000 tokens will be produced. 450,000,000 tokens would be sold in Token Sale Round 1 and 2, and 150,000,000 tokens will be allocated for the network growth pool, block rewards, advisors and automatic rewards for early adopters. Furthermore, 150,000,000 tokens will be sold in round 3 for ecosystem participants with lockup till 2019. 150,000,000 tokens will be kept for The Papyrus Foundation Pte Limited with a 2-year lock-up and a 6-month cliff while the remaining 100,000,000 tokens will be given to the founding team with a 2-year lockup and a 6-month cliff.

Fund usage

42% of the funds raised will be used for expanding the business, business development and for other marketing activities, 29% will be used for R&D and development of the core technology. Furthermore, 12% will be allocated to the integration services program, 15% will be awarded for operational costs while 2% for legal. 

The hard cap of Papyrus’ ICO is 17,500,000 USD.

Papyrus is based in Singapore.

The whitepaper for the project: https://papyrus.global/media/files/whitepaper_en.pdf

The team

Product Director: Alexander Shvets

Communications Director: Elena Obukhova

Product Manager: Tanya Krishtopa

For further details on the team, please visit https://icobench.com/ico/papyrus.

Social media presence: 

Telegram: https://t.me/papyrusglobal

GitHub: https://github.com/papyrusglobal

Facebook: https://www.facebook.com/papyrusglobal/

Twitter: https://twitter.com/papyrus_global

Papyrus wants to disrupt the existing digital advertising market and come up with a new platform that will tackle the issues that the industry is facing today. They intend to challenge the status quo. This is, no doubt, a good initiative but the platform may run into some resistance from the old guard. We have to wait and see whether Papyrus succeeds in its venture or not. 

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