BitClave is offering a decentralized search engine that eliminates any third party advertising intermediaries with the goal of establishing a strong, more efficient relationship between businesses and consumers.
This decentralized search engine will help users protect their data and better find what they’re looking for, while businesses will be able to advertise at a more cost-efficient and effective rate.
What exactly does BitClave do?
BitClave aims to create an open search engine to keep advertising prices transparent and fair for regular shopping consumers. The goal of Bitclave is to cut out any middleman or third party system when it comes to shopping for new products.
In a BitClave search world, businesses would be able to reach their target audience with an extremely high degree of specificity. This hyper-focused targeting would allow businesses to get more bang for their advertising buck, as well as start showing consumers highly relevant ads. For example, if you run a traditional Chinese dessert shop, you’d essentially be able to find anyone who is searching for Chinese dessert shop and show them your advertisements.
With this concept in place, it makes things a lot more accurate and businesses would not need to “bid” for clicks like you would with Google.
Another example would be if you’re searching for a new house. You’d begin your search on the BitClave platform, and then start seeing advertisements from realtors who only match your criteria. Not only would you have curated and specific advertisements, you would also earn CAT, the BitClave token, when you engage with those ads.
All of this would occur without a third party intermediary reaping in huge profits in percentages of ad spend or user data. The BitClave ecosystem will help consumers keep control over their data, and give them the option to reveal personal information to businesses.
The Bitclave Team
BitClave was founded in 2016 and is headquartered in Mountain View, California. To make matters even more interesting, it operates out of Google’s main campus. This gives BitClave the opportunity to recruit high-level talent from the surrounding areas.
The CEO is Alex Bessonov. Bessonov has experience working with startup accelerators as well working as a software engineer with Microsoft, eBay, and Informatica.
BitClave’s CTO is Patrick Tague. Tague has experience in mobile, embedded, and wireless security.
They also have Chief Architect, Emmanuel Owusu, who is quite familiar with privacy and IOT.
BitClave aims to introduce all of the following benefits to the world of online advertising:
- Reduce the cost of online interactions between users and advertisers by eliminating the middleman
- Instead of a middleman, BitClave uses cryptography and activity ledgers to create smart contracts
- Users can use the BASE application to profit off of every search result where the desired demographic equals that user’s demographic profile; if an advertiser wants to advertise their content to a 25 year old man, and that user is a 25 year old man, then the user gets paid in exchange for viewing the advertisement
- Users’ personal data is securely stored on the un-hackable blockchain
The overall goal is to soften the increasingly competitive ecommerce landscape dominated by giants like Amazon and Alibaba.
For users, BitClave’s BASE is a search app that pays money. The example on the BitClave website discusses how “Donald” is looking for a new car. He searches for the car, but finds tons of irrelevant links and advertisements on conventional search engines.
Using BASE, he finds personalized offers from car dealers, each of which is competing with each other to offer the best deal. For each offer, dealers are ready to pay Donald anywhere from $5 to $50. So just by searching for a new car, Donald can make up to $250 – even if he doesn’t buy a car.
The business pays Donald directly. There’s no middleman – like Google AdWords – involved in the process.
Why would businesses benefit from paying a large amount of money to consumers just for searching? Businesses can benefit from BASE by creating smart contracts. Smart contracts execute when members of the target audience perform searches for relevant information. User provenance is guaranteed by the ledger.
For a practical example, BitClave returns to the auto dealership example. Auto dealers can create a promotion targeted at consumers who own a 2 year old car, for example. They can fine-tune their search even further by selecting consumers who prefer German cars, have an income higher than $100,000, and live within 100 miles of the dealership. In other words, dealerships can find their perfect customer and give that customer their best offer.
BitClave offers benefits for one more group of people. BitClave calls these people “experts”. They’re the advertising specialists who can help businesses achieve better advertising results online.
For a small fee, these experts can create smart contracts for businesses and build personalized experience solutions in different verticals.
BitClave aims to disrupt the online advertising industry with an innovative decentralized search platform. Whether or not it can beat the big tech advertising giants like Google is still a question.
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