BitClave, an Ethereum blockchain based search engine, marks an attempt to decentralize online advertising by allowing users to be compensated for their data directly from the retailers they are searching for, making third party advertising unnecessary.
The BitClave Active Search Ecosystem (BASE) will allow users to control their data and decide who has access to it. Retailers, for their part, gain a direct connection to a potential customer and can offer targeted promotions.
The ecosystem is designed to keep prices fair and remove intermediaries. That is how BitClave can disrupt the advertising industry.
BitClave utilizes the strengths of traditional online advertising, but eliminates privacy infringement, third party networks and untrusted data sources. Businesses will no longer have to pay middlemen to reach a captive audience. Nor will their advertising be wasted on audiences that have no interest in their offers.
A BitClave user searching for a new car can opt-in with certain dealers. The car dealers, in turn, will make offers. Whether or not the customer accepts the offer, they earn BitClave Consumer Activity Tokens (CATs) from all dealers making an offer.
A user searching for a new house will similarly share their data with realtors and earn CATs from each realtor they engage with.
BitClave’s greatest impact will be on the advertising industry.
Nearly half of all advertising traffic is generated by bots. The sellers pay for impressions, views and clicks that typically deliver low conversion rates. As businesses pay middlemen such as Facebook and Google for this data of uncertain value, the end result is higher costs for businesses and higher prices for their customers.
BASE marks the next step in blockchain technology based commerce. Blockchain technology enables distrusting parties to engage in a mutually beneficial enterprise without a central authority. With the BitClave ecosystem, customer profiles can be incorporated into search metadata owned by customers and selectively revealed, creating a privacy friendly marketplace where buyers and sellers share in value creation.
BASE customer data is anonymized and stored on blockchain, while still available for selective sharing. That allows it to create new types of rewards and loyalty programs.
How It Works
The BitClave Active Search Ecosystem uses an Ethereum blockchain for storage and management of data related to customer activities in the ecosystem. Software applications like retail websites and marketing dashboards will read customer search requests from the blockchain and write offers to the blockchain.
The BASE anonymized activity ledger will also facilitate analytics capabilities that leverage data from retailers, customers, apps, websites and other sources. Any party can contribute data to the ledger or retrieve value from the data, based on how the contributor has encrypted the data.
Users will contribute data to BASE in various ways – creating a profile that includes search preferences, interests and other information they deem relevant to their search. Users will be able to contribute activity data related to a website they visit by using authorization buttons that allow a third-party website to authorize a user using their Facebook credentials.
Such activity sharing is still controlled by the customer, as the activation button serves as an opt-in to sharing their activity to the blockchain.
BASE also creates opportunities for analytics providers. An analytics provider can create and sell custom analytics capabilities to BASE users.
Hence, BASE can supplement an ecommerce company’s customer relationship technology stack.
ICO Begins October
After earning $1.8 million from its presale in July, BitClave will launch its full sale of CATs in October. The full sale will provide the public the opportunity to purchase CATs and be part of the first wave of BASE users.
The presale reached its soft cap in less than 24 hours.
The full sale token generation cap is 2 billion. Token crowdfunding distribution is 1 billion.
More details are available on the website, https://www.bitclave.com.