The team behind BitClave have announced a new innovation, the BitClave Active Search Ecosystem, set to revolutionize advertising in eCommerce using the personal data obfuscation offered by blockchain technology.
A multi-million dollar industry, online advertising often seems a no-win scenario, with users reluctant to share personal information and advertisers spending significant portions of their funding bidding on ad space.
Thanks to advances in the blockchain, former LG Chief Security Officer Alexander Bessonov and the team at BitClave have devised an ecosystem where advertisers and audiences can mutually benefit.
The BitClave Active Search Ecosystem, or BASE, is a platform that allows users to find products using a robust search engine populated by offers by eCommerce merchants. Users are able to create profiles outlining types of content they’re looking for, and can actively search for specific messages.
This information about their preferences are privatized using the blockchain, meaning users can “publicly” display their search and advertising preferences in a way that businesses can serve them relevant ads without knowing their true identities. Merchants can then, through transactions on the blockchain, offer Consumer Attention Tokens, or CATs, to repay users who match a conducted search with a posted advertisement.
Unlock other attempts to capitalize on the private nature of blockchain-based transactions to improve advertising, BASE represents a collaboration between users and advertisers which helps users filter out irrelevant ads, improving their digital experience while ensuring paid advertising only reaches those who would find it relevant.
As Alex explained, “How do you incentivize people to monetize their data? If you take the middle man out of the picture, we can make a direct link. If you’re looking for a car, and I have a car to sell, your only option is to go through a middleman. But in the future, I might be able to address you directly.”
The Consumer Attention Token pre-sale launched July 25th, and within hours of going live saw incredible engagement. BitClave’s unique approach to a token sale follows a discounted pre-sale model, allowing investors and interested parties to purchase CAT at a reduced rate to encourage investors of all levels.
The initial pre-sale went live with a 50% discount, $0.05 USD per CAT, until the soft cap is reached. This staggered approach to token sales has proven to maximize the availability of newly launched tokens in the past, and the BitClave team hopes to enable participation from as many individuals as possible. This innovative approach to digital advertising, with a token sale designed to be user-friendly, promises to make BitClave and BASE major players in the future of advertising as we move further into Web 3.0 territory.
Featured image from Shutterstock.
Last modified: May 21, 2020 9:39 AM UTC