A lot of the things you use on the Internet daily is free, but what does it actually cost you?
Massive Internet platforms like Google, Facebook, and Instagram let you do the things you like for free.
Want to search for something? You get your query served instantly without having to pay a single cent.
Want to connect with your long-lost friends on Facebook? Won’t cost you a dollar either.
Feel like sharing that beautiful holiday photo of yours online? Feel free to do it!
Here’s the truth about “free” services.
Every time you make a search, click on an ad or spend time on your favorite social media platforms, the companies behind it make billions from something you own–your data.
For every Google search you do, Google owns your data and they have the rights to use and analyze your data in their products. Even though Google is as trusted as it gets, there is always a chance of your data being mishandled.
At the end of the day, you get rewarded nothing for your personal privacy!
Businesses don’t benefit from the monopoly either.
With Google and Facebook’s monopoly on the advertising industry, businesses have no choice but to follow the market.
In that case, what can businesses really do if the two decides to raise their prices?
High prices and advertising on these platforms are not guaranteed successes either. Businesses often pay large amounts of money for weak impressions, views, and clicks that can sometimes be false, as well as having low conversion rates.
As you might have guessed, higher costs of operations for businesses would lead to higher prices for the end consumer.
What can be done to solve this problem?
BitClave is decentralized search engine designed to solve this specific problem in the online advertising industry (valued at about $550bn last year): the duopoly of Facebook and Google in the digital advertising market.
The solution proposed is a protocol called BASE, which is the short form for the BitClave Active Search Ecosystem.
BASE is a decentralized system that connects end-users directly with businesses that are relevant to their needs and search queries, hence eliminating the need for external ad platforms like Bing Ads or AdWords.
For example, if you’re looking for a place to rent in today’s search engines, you’d go to another website like Trulia to find a place that fits your budget and other expectations.
With BASE, all you have to do is to perform a search on the BASE app. Because of the data you’ve shared, realtors serve YOU only personalized offers that are within your requirements, instead of you going to the realtors.
To put it simply, BASE is a search engine that connects you directly with what they’re looking for instead of you doing the guesswork.
This also enables businesses to create personalized offers or content that fit what you want, making your browsing experience even more relevant.
Instead of secretly saving all of your personal data, BASE users can opt-in to choose what information they want to share with the platform. If you don’t want to share your Facebook data, just disallow permission – it’s that easy.
Having control over personal data also benefits both users and businesses; irrelevant ads will not be served to you while businesses are guaranteed to have their paid advertising only reaching those who will need it.
The BASE ecosystem will finally introduce a platform where every party is rewarded equally and fairly.
With the usual advantages of the blockchain, BitClave benefits from things like cheaper transaction costs, faster transaction speeds regardless of location and time, as well as a 100% private data storage system.
What sets BitClave apart from other competitors is that you are paid for searching online–it’s a search engine or app that pays you money for doing so.
Previously, you use search engines like Google for free online with nothing else other than getting the information you want. With BitClave, you get the same thing plus incentives for it.
The BASE ecosystem rewards relevant queries with a specific amount of tokens called Consumer Activity Tokens (CAT).
These tokens are sent directly from the advertiser to the user. The more relevant a user’s demographic data is to the advertiser’s desired demographic, the higher the chance of users getting paid in CAT.
Another strong feature of the platform is its security.
The project’s team is very experienced in the security sector or as one would call it an “all-star” team. BitClave is also headed by the former Chief Security Officer of LG Electronics, Alex Bessonov.
The security system seeks to protect BASE users by protecting their data on a unhackable blockchain infrastructure which also allows users to select what data they want to share with the platform.
We’ve mentioned earlier that BitClave pays users for relevant search queries and that’s the biggest benefit of the platform to consumers.
An example listed on the BitClave discusses how an imaginary user, Ben, is looking for a new car.
Ben uses conventional search engines to look for the car he wants but finds irrelevant links and useless advertisements instead.
With BASE, however, Ben receives personalized offers that fit his requirements from car dealers, all of which are trying to offer the best deal to Ben.
The benefit doesn’t stop there; each business is also willing to pay Ben any amount from $5 to $50 just for performing relevant queries when searching for a car. At the end of the day, Ben can make up to $250 even if he decides not to buy a car.
Unlike current platforms, the business pays Ben directly instead of needing to go through a middleman.
You may be wondering, how could this be possibly good to businesses who are expected to pay large amounts of money for searches?
This problem is solved with smart contracts.
Smart contracts in BASE are executed automatically when a business’ target audience perform searches for information relevant to what they’re selling.
This means if a Business A is paying $30 per lead, they will only pay that amount if and only if users’ search queries are relevant to what Business A is advertising.
BitClave also provides a more practical example within the car industry.
Car dealerships using BASE, for example, can run extremely targeted advertisements targeted at consumers who own a 2-year old car.
This advertisement can be refined even further which selections such as targeting car owners with cars from a certain country (like Germany), their income level, and their location.
With BASE, businesses can craft the perfect offer for consumers which increases profits and the effectiveness of their promotions at the same time.
The BitClave token sale for the Consumer Activity Token (CAT) will begin on the 8th of November with a funding target of $50m.
They have already completed a very successful private and public pre-sale token event raising more than $16 million and receiving commitments for another $24 million.
There will be 2 billion CAT in supply with, with 1 billion CAT offered during the crowdsale.
To participate in the token sale or learn more about the project, click here to head over to BitClave’s homepage.