Jambo Network AMA
On the 14th, the Jambo Network AMA was successfully completed. The AMA invited Jco, the co-founder of Jambo, to give a detailed introduction to Jambo Network. The following is the highlights.
First of all, let me introduce Jco, Co-Founder of Jambo, Ex Important leader at ad department of AWS, has extensive experience in advertising and blockchain industry. She was a team leader of more than 30 creatives, working across digital, direct marketing, retail and branding for AWS.
Q1: Can you introduce yourself and what are you working on？
Hello everyone，I’m Jco！Thanks to this community, I’m very glad to be included in this event. Thank you Sreedha.
As the co-founder of Jambo, my personal responsibility is to work with our team to realize the vision of the project step by step.
In addition to providing decentralized, transparent, efficient, and stable communication services for the industry, Jambo Network’s vision also allows more people to enjoy the dividends of the development of high-traffic applications. Thanks！
Q2: Please introduce Jambo Network to us. / Can you share with us a little bit about Jambo Network？
Well, in the global Internet, advertising market worths trillions of U.S. dollars. Marketing budgets are mainly grasped by major media such as search engines and social media. The issue related to lack of trust between stakeholders in the industry chain has brought its non-value parts such as advertisement verification, data monitoring, and advertisement blocking.
To solve these problems, Jambo Network uses regional cross-chain technology.
As the first blockchain ad-tech support platform on polkadot, Jambo has been committed to creating a transparent and credible decentralized advertising industry value ecology.
We take good advantages of the big traffic data in advertising and communication industry based on blockchain technology, helping users filter information directly or indirectly. Thank you.
Q3: Why does Jambo Network choose Polkadot Ecology for development and deployment?
Well, although Polkadot ecology is still at a relatively early stage, we believe that this is a revolutionary change for blockchain industry and even for other industries in the future.
Without a doubt, blockchain has given us a safe and reliable underlying technology, However, each public chain is equivalent to data silo which make it difficult or costly to communicate between data silo.
So the Polkadot’s cross-chain agreement is equivalent to establishing a bridge between data silo.
Based on the Polkadot ecology, each chain can be optimized for a novel design for a specific use case. This means that blockchain can provide better services meanwhile it can also improve efficiency and security by omitting unnecessary costs.
Jambo can use this advantage to influence the traffic circles of multiple industries and communities, allowing more people to enjoy the dividends of the development of high-traffic applications. Thanks！
Q4: How does Jambo Network realize cross-chain functionalities？
Jambo realizes the value intercommunication of different advertising industry chains through Polkadot heterogeneous multi-chain architecture. We use Substrate to build our own application chain. It might be difficult to explain technical issues from a marketer’s perspective. So please don’t mind that I used a tech-page to answer this question.
Q5: At present, the advertising industry market is very large. What is the primary market strategy of Jambo Network?
Yep, the global advertising industry is currently in the mature stage of the industry’s life cycle, and the industry’s prosperity is closely related to economic development.
In 2020, while covid-19 put a halt on many industries, the spending on advertising worldwide has been increasing steadily. It is expected to go back on a more stable growth track, should start in 2021, and surpass 630 billion U.S. dollars in 2024.
But we hope to give the traditional advertising market a transitional period for the integration of blockchain technology, so Jambo’s primary market strategy is the advertising ecology of the blockchain industry.
With the explosive growth of DeFi in 2020, the number of active users of DApp has boomed, exceeding 7 million by the end of 2020 from nearly 900,000 by the end of 2019. However, currently there are no effective ways for users to obtain project information and to deliver accurate industry information to target users apart from community dissemination and blockchain media. Nevertheless, current blockchain media and traditional media still face same problems of traffic fraud, high cost, and low efficiency.
Therefore, Jambo’s primary goal is to solve the advertising problem from the blockchain industry, and then gradually enter the traditional ad market. Thanks!
Q6: There are already some decentralized projects in the advertising field in Ethereum, what are the differences and advantages of Jambo?
Of course, there are a lot of great teams building decentralized ad projects, and we are all trying to minimize the drawbacks of traditional digital ad. As you can see, the biggest difference between us and other blockchain advertising projects is that we will be based on the Polkadot Network.
Ethereum’s key strength is its large and established ecosystem of developers, users, and businesses including its rich set of developer tools, tutorials, etc.
Polkadot’s greatest strength is Substrate. Substrate is a development framework for creating Polkadot-compatible blockchains, offering different levels of abstraction depending on developer needs. Polkadot is itself built using Substrate. It dramatically reduces the time, the energy, and the money that are required to create a new blockchain.
Polkadot’s higher interoperability offers a significant advantage over Ethereum 2.0. It allows developers to use other chains but still connect with Polkadot’s Ecosystem and enjoy a larger network. Ethereum 2.0 limited interoperability is yet to overcome this scalability issue.
In a way, our application needs higher transaction throughput performance, and we want full control of the environment, state transition function, storage, and economics that the application runs under, across-chains. Obviously, Polkadot will satisfy these requirements better.
Q7: In the past two days, we have collected some questions about Jambo from fans.
Next, let’s ask JCO to answer these questions. First of all, the first question comes from @hasanm_7300: How far will you bring jambo network using polkadot Ecosystem?
First of all, like I mentioned before, we understand the impact of Polkadot’s cross-chain technology, which is a value interaction technology that can support many industries, so we can see that Polkadot’s ecology is growing rapidly.
More and more people are participating in the ecological construction of Polkadot, which can continuously enrich Jambo’s ecological industry and lay a solid foundation for Jambo to achieve a global transparent and credible decentralized advertising industry value ecology. Let the follow-up ecological development go further.Thanks!
Q8: The next question comes from @anjarsumawi: Is jambo network support ad-tech on polkadot?
To be precise, Jambo is a blockchain advertising technology support platform based on Polkadot’s Substrate framework. In the early stage, we will solve and support technical issues related to advertising in the blockchain industry, and then gradually enter the traditional market. Thanks!
Q9: The next question comes from @Landsky12: Is the jambo ad network like Google’s ad network?
As we know, Google has encountered lawsuits and even it has been fined for user privacy issues many times before. Public reports show that on January 21, 2019, due to the mandatory collection of user information, it failed to correctly disclose to users how to collect data through its search engine, Google Maps and YouTube services to display personalized advertisements. Google was fined with a penalty by France (50 million euros).
In terms of the user privacy issues , Jambo tries to ensure data security with the distributed ledger technology (DLT) and encryption. Blockchain technology provides users with a means to encrypt and protect their data, and users can even choose who can access their information.
Jambo can help facilitate data transactions and ensure that buyers and sellers get the benefits they deserve. A decentralized approach is also conducive to creating a fair market for personal data owners, because no entity can easily set market prices. Of course we are not trying to replace Google adwords, we just want to build a fairer and more transparent ad network. Thanks!