# Verasity’s Proof of View Passes Examination by Chinese Patent Office
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-01-11
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Verasity's Proof of View Technology Receives First Ad
Meta Description: Verasity’s groundbreaking Proof of View technology has secured patent approval in China, revolutionising the ad tech market and providing transparent anti-fraud
URL: https://financedigest.com/verasitys-proof-of-view-passes-examination-by-chinese-patent-officehtml

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[![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/verasitylogo1-1736836452733-compressed.jpeg)](https://verasity.io/)

[Verasity](https://verasity.io/) is pleased to announce that its Proof of View technology has passed its examination by the People’s Republic of China National Intellectual Property Administration—becoming the first ad tech module based on blockchain technology patent approval in China.

[Verasity](https://verasity.io/)’s Proof of View (PoV)™ technology ensures that content and advertisements viewed via content players with a PoV integration are served to real viewers—verifiable on-chain and recorded immutably through Verasity’s purpose-built distributed ledger technology. Proof of View empowers advertisers to lower their ad spend lost to bots and fake viewers, and enables publishers to get paid faster for served ads through transparent viewership metrics.

Already granted a [patent in the USA](https://bitcoinist.com/how-verasity-proof-of-view-pov-is-granted-a-us-patent/#:~:text=Over%20the%20last%203%20years,been%20granted%20a%20US%20patent.)—the largest ad spend market in the world at over [US$240 billion per annum](https://www.statista.com/statistics/429036/advertising-expenditure-in-north-america/)—Proof of View technology is now poised to dominate the ad tech market in both the Western Hemisphere and East Asia through its proprietary status and exclusive development by Verasity.

As the second-largest world economy after the USA, China spends some [~US$120 billion](https://www.statista.com/topics/5604/advertising-in-china/) on advertising each year, with over [65% of these ads served online](https://www.statista.com/statistics/276744/china-percentage-breakdown-of-advertising-expenditure-medium/). The rapidly expanding Chinese ad market, powered by a steeply [rising GDP per capita](https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=CN) for Chinese consumers, is set to boom in coming years.

According to Japanese international advertising firm Dentsu, Chinese ad spend is predicted to grow almost [7% in 2022](https://www.dentsu.com/cn/en/news-releases/ad-spend-in-china-2021) alone, yet some experts predict that [up to a third](https://www.warc.com/newsandopinion/news/almost-one-third-of-online-ad-traffic-in-china-is-fake-or-invalid/en-gb/43739) of Chinese advertisers’ ad traffic is fake or invalid—costing the growing industry billions per year. Now, through its pending patent approval for Proof of View in China, Verasity is uniquely positioned to lead innovation and deliver cutting-edge ad fraud prevention to Chinese advertisers who have lacked access to transparent anti-fraud measures to date.

The patent application, which will now be published in China, is entitled “System and Method for Proof of View via Blockchain”. It passed its assessment on the 5th of January 2022 the result of which can be viewed here in [Chinese](https://verasity.io/pov/china/The%20Notification%20of%20Passing%20Prelimi.pdf) or [English](https://verasity.io/pov/china/The%20English%20translation%20version.pdf).

RJ Mark, Founder at Verasity, says:

_“Protecting our proprietary technology by pursuing patent and IP is an incredibly important step towards establishing Verasity as a [world leader](https://www.financedigest.com/world-leaders-to-attend-queen-elizabeths-funeral.html "World leaders to attend Queen Elizabeth’s funeral") in blockchain-based ad tech. This is [especially the case](https://www.financedigest.com/bone-densitometers-market-to-gain-momentum-owing-to-increasing-cases-of-bone-disorders-especially-among-geriatric-population.html "Bone Densitometers Market To Gain Momentum Owing To Increasing Cases Of Bone Disorders Especially Among Geriatric Population") with China which is now taking patent protection seriously and represents the second largest economy. Verasity’s Proof of [View technology](https://www.financedigest.com/lumen-registers-increased-views-and-more-positive-response-to-ads-using-seenthis-technology.html "Lumen registers increased views and more positive response to Ads using SeenThis Technology") will create a paradigm shift in the way advertisers serve ads, and more importantly, in the way publishers and content creators get paid. To ensure this disruption cascades worldwide, we will [continue seeking patents for our technology](https://www.financedigest.com/how-video-technology-continues-to-boom-in-the-education-sector.html "How video technology continues to boom in the education sector") from governments across the globe._”

Patent [applications have been filed worldwide](https://www.financedigest.com/infant-positioning-aids-market-application-trends-growth-opportunities-and-worldwide-forecast-to-2027.html "Infant Positioning Aids Market Application, Trends, Growth, Opportunities and Worldwide Forecast to 2027") to protect this original patent.

**_Press Enquiries:_**

_Elliot Hill,_ [_Verasity_](https://verasity.io/)

[_elliot@verasity.io_](mailto:elliot@verasity.io)

_Julia Linehan,_ [_The Digital Voice_](https://www.thedigitalvoice.co.uk/)

[_Julia@thedigitalvoice.co.uk_](mailto:Julia@thedigitalvoice.co.uk)

**_About_** [**_Verasity_**](https://verasity.io/) **_:_** [_Verasity.io_](https://verasity.io/) _is a protocol and product layer blockchain platform for esports and digital content. Verasity is committed to delivering a better user experience for all stakeholders within the [digital content](https://www.financedigest.com/impact-com-acquires-pressboard-providing-publishers-with-a-best-in-class-platform-for-branded-content-as-digital-advertising-is-deprioritised.html "impact.com acquires Pressboard, providing publishers with a best-in-class platform for branded content as digital advertising is deprioritised") space. By offering transparency, security, and trust with our patented Proof of View technology, we are working to eliminate [online ad fraud and NFT fraud—ultimately changing how digital advertising](https://www.financedigest.com/personification-the-new-frontier-of-online-advertising-2.html "Personification, the new frontier of online advertising") is done today. Within esports, Verasity promises to dominate the industry with VeraEsports, using [superior blockchain technology and the best-gamified viewership experience](https://www.financedigest.com/the-importance-and-growth-of-banking-ecosystems-to-create-superior-customer-experiences-and-value.html "The importance and growth of banking ecosystems to create superior customer experiences and value"). Follow Verasity on_ [_Twitter_](https://twitter.com/verasitytech) _,_ _LinkedIn_ _,_ [_Discord_](https://discord.gg/verasity) _, and_ [_Reddit_](https://www.reddit.com/r/verasity) _. Visit_ [_https://verasity.io_](https://verasity.io) _._

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