There are many companies around the world that are trying to revolutionize the way in which many industries work. Presearch, a blockchain startup that uses tokens to incentivize decentralized search is working in order to compete against Google and its presence in the market.
Presearch’s Task To Compete Against Google
Presearch has been trying to enter the market and compete against the giant Google for over a long period of time. The firm started as ShopCity.com and it was founded back in 2008. Due to its aggressive policies towards competitors, Google was fined by the European Union (EU). The internet giant had to pay $5 billion for Android antitrust violations and $1.7 billion for anti-competitive behavior.
Margarethe Vestager, the competition commissioner, commented:
“Google has given its own comparison shopping service an illegal advantage, by abusing its dominance in general Internet search. It has harmed competition and consumers.”
At the moment, Commission authorities continue to monitor Google’s compliance and how it operates in the market. The search engine remains on close watch in the European continent.
Presearch was just able to surpass a million registered users and its monthly active users for its beta are around 250,000. Although Google remains the leader in the market, there are new companies and firms trying to take the market that Google was not able to take care of.
Moreover, users are starting to become aware of the things that larger companies such as Google do with their data. People are not going to accept data breaches and other scandals that involve users’ private information.
Preserach wants to have a community-owned, choice-rich online playing field int he place where Google search box fails. The intention is to have a collaborative and pluralist platform with rewards that would improve and increase diversity and encourage users to discover democratized access to the internet.
The firm has many recognized advisors such as Anthony Di Iorio, Rich Skrenta and many others such as Addison Cameron-Huff. Although Presearch acknowledges that Google is one of the best and largest companies around the world, they are trying to attract the community to fulfil its own research needs.
Each time that a user performs a search, they are provided with a quarter token. Users can have up to eight tokens per day. Each PRE token is currently worth $0.05. That means that those who search and reach the maximum number of transactions would only earn 40 cents.
According to Presearch, one PRE token allows an advertiser four ad impressions on their platform. In the future, the number of impressions per token could reach a larger number since there will be more people willing to deal with these tokens.
In this token sale, the company raised $7 million, which were much more when the market skyrocketed back in 2017. The first version of the platform was launched back in November 2017.