BAT- A Brave Investment
When I heard about a brand new web browser that allowed you to earn tokens just by using it and allowing you to then buy advertising using said tokens, you wouldn’t believe how quickly I jumped the gun downloading the brave browser to all of the computers I use regularly. It sounded awesome, ad blocking, tracker blocking, brand new safety features and implemented blockchain? How could you lose? I fired up the browser and gave it a test.
At first I was overwhelmed by exactly how many ads and trackers the brave browser was blocking. Overall, it was doing a much better job than my ad blocking plugins. I’d have to say I was thoroughly impressed. The sites didn’t seem to lag and it seemed to be overall faster and used less processing power than Firefox or Chrome (I didn’t compare it with Safari or Internet Explorer because I’m not a monster). I was excited about what I was seeing, so I went to open up Google docs to jot down a few notes… and then I started noticing a few issues.
While brave browser does do an overall wonderful job, Google services can glitch out when in the browser. I haven’t been able to access Google docs within the browser at all. Furthermore, the log in puzzle on Binance will not solve no matter what I do, however it works on all other platforms. Lastly, a few sites still were able to stream ads despite the ad block function. Overall not the biggest complaints in the world, yes, but if you have to use a different browser for certain features that works fine elsewhere, why use the new browser at all? I sincerely hope this is just a “new software” glitch and this will not be a problem much longer, still, I have to take a few cool points away. Regardless, the anti tracking aspect of the brave browser is definitely worth using it for.
So what about BAT?
While the browser itself is incredibly useful despite its flaws, what bothers me most is every single article or video with information on the coin itself almost completely side steps how it is actually used and transacted and moves directly onto its price action on the exchange. So what does the token actually do? How do you earn it? How do you receive it? So far, it has been extremely difficult to figure that information out, which to me is a massive red flag. Even after looking through the descriptions, watching the videos and reading through the white paper, I still didn’t completely understand how BAT was used until I really did some digging and this is important to take note of because if I, an individual who spends the majority of their free time researching new coins and platforms, can’t understand the use case of the token without extensive research, the average consumer who doesn’t care as much or isn’t as interested sure isn’t going to either.
The brave token is essentially how you are rewarded for your engagement with the browser and is used as the token for the economy within the browser. The browser anonymously tracks what you’re interested in and what you pay attention to and rewards the publishers with those tokens. Advertisers and publishers then, in theory, will gain a higher ROI and are able to target their ads and content better.
One of bat’s features is choosing sites that you want to contribute your money to each month. Ok, that’s all well and good, but that’s something I didn’t have to do in the first place. Why would I want to use my hard earned crypto to just freely give it to sites that I didn’t have to pay for in the first place for the simple fact that I’m using crypto? Maybe I’m just being a little pessimistic. Let’s go on to another key feature of the token.
Users are also able to register their content to get paid in BAT every time someone visits their site or page. So let’s take a look at the process of doing so. First step was to verify my email, easy enough. Second step was to set up my 2fa. Seemed to work well with Google authenticator. Now I have to sign up and make an Uphold account. Ok, the extra steps are getting a little redundant but easy enough. Now I have to give Uphold my personal information and download yet another authenticator app that’s completely separate from google’s authenticator app? For a browser that prides itself in security and anonymity, this seems to come from left field. Regardless, for the sake of this review I went to grab the 3rd party authenticator on my phone. Now Uphold asks for my photo ID and address. Skipping verification for now, overall the sign up process was a pain in the neck, let’s try to link up accounts with Brave Payments. YouTube was really easy to link up but website integration requires users to edit DNS records or download a trusted file and add it to your site. Overall, not nearly as infuriating as the setup process. Your payments are then stored in the Uphold wallet when you receive them.
When I first started working on this article, I was ready to tell you all that I did not believe the BAT token was a firm investment and that the platform still needed a lot of work. While I still believe that the platform needs a lot of work, I can definitely see how this could fix a lot of major problems with demonetization and monopolies of advertising companies. I still don’t understand how the advertising is supposed to work through the platform, but from what I understand, they have yet to fully implement that part. I’m going to keep an eye on the platform for now and hopefully in time, it will grow and develop fixing the big mess we currently have on the internet right now when it comes to advertising and personal data.
What do you think? Could the brave browser and the Basic Attention Token fix the internet? Let me know in the comments. I’d love to open up a discussion about it. As always, go long and prosper.
Disclaimer: Nothing written in this or any other article on our website should be taken as financial or legal advice. Therefore, we cannot be held liable for any investments you make. Investing in cryptocurrencies is highly speculative, and you should never invest more than you are willing to lose.
Written by satoshispockamoto