Developed for Mitkom as a Blockchain ICO Crypto Currency
After trading in Bitcoin and Ethereum for years I finally decided to set up my own Crypto Currency. The primary purpose of this project was a research and development exercise. Learning about the inner workings of crypto currencies, Solidity, the blockchain and how this tech will transform the future.
AffiliateCoinis a decentralised Affiliate Marketing network that uses Smart Contracts to create secure, indisputable transactions on the Blockchain.
Despite Affiliate Marketing having been around for over 25 years it has some fundamental flaws, including mistrust, delayed payments and limited Pay Per Action capability.
By removing the middleman we are creating an environment in which trust is no longer relied upon. Merchants will rest in the knowledge that they only pay for the completion of clearly defined end user tasks, and Publishers will rest knowing their efforts never go unrewarded.
With all transactions stored on the public ledger of the Blockchain, justice in Affiliate Marketing will become an indisputable matter of public record.
Every time a user successfully completes a Smart Contract (such as sale being made) the Publisher is rewarded with a pre-set quantity of AffiliateCoin. They can also be used to pay for services with the dashboard such as email broadcasts, translations, digital assets, telesales etc.
The project consisted of a dozen different platforms, from standalone A Laravel Frontend Website, A Drupal 8 User Accounts System, Solidity Smart Contracts, Mutli-signature crypto wallets, a payment distrabution system, Automated Social Networking, Automated Identity verification, as well as dozens of python and Perl scripts.
AffiliateCoin is a decentralised affiliate network that uses Smart Contracts to create secure, indisputable transactions on the Blockchain.
The global spend on Affiliate Marketing is in excess of $10 billion USD with the US accounting for more than $5 billion USD alone. Despite digital Affiliate Marketing having been around for over 25 years it has some fundamental flaws including fraud, mistrust, high transaction fees, delayed payments and
limited Pay Per Action capability.
Despite these shortfalls, Affiliate Marketing is used by over 80% of brands and is one of the most profitable forms of online advertising with ROI in the UK amounting to £15 for every £1 spent. Affiliate Marketing now drives the same amount of online orders as email marketing (over 16%). Comparatively, paid search drives 20% of online orders and organic search accounts for 21%, but it is Affiliate Marketing that continues to grow year on year.
With the use of Smart Contracts and Blockchain technology we can overcome these problems and unlock the potential of Affiliate Marketing. With all offers, promotions, interactions, and relationships stored on the public ledger of the Blockchain, when targeted actions are verified (such as a sale being made) the Smart Contract is fulfilled and the Publisher receives their reward.
AffiliateCoin is going to cause a much needed shakeup in the world of Affiliate Marketing.
Changing Affiliate Marketing for the Better AffiliateCoin gives Publishers the opportunity to receive a higher revenue percentage than has been traditionally possible using standard centralised Affiliate Marketing networks. We have removed the high barriers to entry that prevented small businesses from using Affiliate Marketing and by using Smart Contracts we can create bespoke Pay Per Action models. This will allow businesses to target specific events, not just the traditional Pay Per Click or Pay Per Sale models.
Affiliate Marketing is a driver for growth in a wide range of online activities. The primary markets are E-commerce (particularly Fashion, Sports and Health), finance and online gambling
The full white paper can be seen here: https://www.affiliatecoin.io/white-paper.pdf