BitClave is a decentralized search system that aims to disrupt the $550 billion advertising industry. Here’s our BitClave review.
What Is BitClave?
BitClave seeks to solve a big problem in the online advertising industry: the industry is dominated by a few major players (like Facebook and Google). These advertising giants take an enormous cut of advertising revenue. BitClave aims to disrupt the $550 billion advertising industry with a blockchain-based solution.
BitClave’s solution is called BASE, or BitClave Active Search Ecosystem. It’s a decentralized system that connects consumers directly with businesses – eliminating the need for a middleman like Google AdWords. That means consumers and advertisers receive real value from every relevant search query in the BASE ecosystem.
The BASE ecosystem is designed to come with the usual advantages of blockchain technology – like smaller transaction costs, faster speeds, and secure user data storage.
More importantly, from the user’s perspective, it lets you search for the things you normally search for online – but get paid to do so. It’s a search app that pays money.
Let’s take a closer look at how BitClave works.
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 “Ben” 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 Ben anywhere from $5 to $50. So just by searching for a new car, Ben can make up to $250 – even if he doesn’t buy a car.
The business pays Ben 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.
How Does BitClave Work?
Obviously, BitClave has some ambitious goals. How does it actually plan to achieve the above benefits?
The BASE ecosystem credits each relevant search query a specific amount of custom currency called Consumer Activity Tokens (CAT). These tokens are sent from the advertiser to the user. The more relevant a user’s demographic data is to the advertiser’s desired demographic, the more likely the user will be paid in the form of CAT.
The end result is that customers get rewarded for searching for relevant products. However, BitClave’s BASE also enables advertisers to avoid wasting money on advertisements that reach irrelevant audiences.
What about BitClave’s security mechanism? How does it plan to keep users more secure? BitClave has a team of security experts led by the former Chief Security Officer at LG Electronics. That team safeguards user data on the un-hackable BitClave blockchain. Users can opt-in to choose which information they share with organizations.
Why Would You Use BitClave?
BitClave is basically a search engine advertised as an alternative to the search engines you see on Google. It’s also an advertising network, similar to the advertising networks you see on Facebook or Amazon.
Google, Facebook, and Amazon are all free services. In order to make money, these services sell your information to millions of advertisers around the world.
BitClave has created an alternative. BitClave’s BASE allows customers to conduct searches on an alternative search engine and simultaneously recognize and benefit from each and every party that their data is being sold to individually.
So instead of allowing millions of internet brands to pay Facebook and Google for your personal information, you can control access to your information and earn compensation.
BASE will open to internet users on July 25. Over the coming months, BitClave plans to partner with large online retailers and trusted businesses. The goal is to hit one million searches per month.
BitClave’s BASE Features
- Eliminates the middleman
- Puts privacy first
- Allows consumers to profit from their information (instead of having their information sold)
- Reduced cost for businesses
- Smart contracts
- Activity ledger
BitClave was founded in 2016. The company is based in Mountain View, California.
Founders include Vasily Trofimchuk and Alex Bessonov.
On Sunday, July 25, the company has scheduled a short window for its pre-sale. That presale begins at 11:00am GMT.
BitClave aims to disrupt the online advertising industry with an innovative decentralized search platform called BASE. That platform allows users to control their information – and even profit by selling their information to advertisers. When users view ads relevant to their specific demographic, they’ll receive rewards in the form of CAT, or Consumer Activity Tokens.
The end result is that you make money from your own information. Instead of watching Facebook and Google sell your information to millions of advertisers around the world, you can profit from your own information while viewing more relevant advertisements.
Watch for more information about BitClave as the company continues to roll out over the coming months. The pre-sale is scheduled for July 25, 2017. The alpha is currently available online through BitClave.com.