Review: BitClave ICO – Decentralized Search Ecosystem
BitClave is working on solving a problem of Decentralized Search. BitClave allows for a direct link between businesses and consumers. BitClave doesn’t monetize on the user data, but rather enables different business models and encourages data sharing across businesses. BitClave doesn’t need to maintain data servers due to the decentralized distribution of the data. Here is the most important information about the BitClave Initial Coin Offering:
Update 8.8.2017: We’ve attached an Interview with the Founders below the table. Also, it is important to state, that the Bitclave Ico managed to raise $1.8 M. We can’t wait to see what they develop with the funds, and what will happen with the actual ICO, since this was just a pre-ico round!
Update 30.08.2017: New info about the BitClave Crowdsale has been released! Check it out.
Update 29.11.2017: The ICO BitClave is successfully completed. The $25,547,000 hard cap has been reached within unprecedented 32 seconds. For full details of Crowdfunding Campaign, please refer to: https://medium.com/bitclave/bitclave-token-sale-completed-within-seconds-f27a51d48f91
ICO Status: Finished
When it comes to online advertising, businesses are forced to pay exorbitant amounts of money to "middlemen" in order to reach a captive audience for their promotions.
BitClave proposes a system in which the intermediaries are eliminated. Instead of paying any "middlemen", companies automatically make personalized offers directly to consumers who have opted in for the service. In this ecosystem, consumers have control over their own data and can opt into advertising and analytics services by retailers through the use of smart contracts.
Get more information
|ICO Token Distribution:
2 000 000 000
Smart contract between customers and businesses
Initial Coin Offering
|Pre-ICO Launch: |
25th of July 2017
1st of August 2017
29th of November 2017
29th of November 2017
ICO Tradable on Exchanges since:
still not tradable
Team behind the BitClave ICO
Senior Executive with over 20 years of experience in the security, privacy and blockchain industry. Former CSO of LGE.
Associate Research Professor in the ECE Department at CMU. Expert in mobile, embedded, and wireless security.
MSc in CS, MBA. A serial entrepreneur. Expert in advertising, game theory, blockchain and management.
Interview: CoinStaker + BitClave
Philip from Team CoinStaker managed to arrange an Interview with the Founders of Bitclave. Without further ado, here is the transcript:
1) We love the idea of using the Blockchain in a mix of search engine and cash back system! It would be interesting to know what you see as the biggest obstacle in your future development?
- The biggest product obstacle in the near future is building an open source developer community around the BitClave ecosystem.
- The biggest market obstacle in the near term is to shift the online ads industry focus from metrics based exclusively on audience size to metrics that capture the value of engagement generating data and analytics.
2) What is your position to “Presearch“, as they seem to be having a somehow similar ICO as you are?
BitClave and Presearch are both pursuing similar goals which are ultimately to reward users for significant amount of time and effort they spend browsing the internet, to put it simply. However, the platforms are at their core very different. The Presearch team is focused on developing a decentralized search engine; BitClave is specialized in search-based advertising, with a strong focus on eCommerce and B2C relationships. Our objective is to give users control of their data, letting them decide who can access it, rather than the highest bidder.
Presearch is a search layer that operates on top of preexisting engines, such as Google, and runs in parallel to user activities on those platforms. In contrast, BitClave is an independent ecosystem that will ultimately provide such highly relevant, and rewarding, search results that it will supersede the need for users to conduct inquiries outside of the platform. With BitClave, searching becomes more efficient for users. We help users separate the signal from the noise, resulting in less time and effort required to find exactly what they’re looking for. This creates a personalized browsing experience, with advertisements and offers tailored for the individual based on their actual interests, rather than the best guesses of those who pay third party platforms the most.
Our token awarding system is also fundamentally different; whereas Presearch awards tokens based on platform use and referrals, BitClave awards are based on users opting in to advertisements by relevant businesses, essentially rewarding the user for engaging with an ad and rewarding the business with a new customer. As a user, you’re paid for interactions with offers that you want, based on products and services you care about, and can earn tokens redeemable for making purchases instead instead of earning pennies for watching irrelevant ads. BitClave rewards users for their data, instead of users selling their information to advertising network middlemen every time they conduct a search under the current system. And, the more important your data is for advertisers, if you fit into a key demographic for example, the higher your potential earnings.
3) What happens when there are two nearly identical car dealerships, and both want a specific user to click on their ad. Google’s solution is that the highest bidder gets the spot; what’s yours?
The smart contracts created by dealerships will regulate the market. We will show more than one offering, but ultimately the system will decide who to match. Dealerships will be able to use analytics tools to compliment their smart contracts. We will also be able to show alternating ads based on parameters such as the campaign start date, end date and total ad budget.
Smart contracts in decentralized search facilitate the combination of customer data preferences, lead-generating analytics, and flexible promotions programs. So a resolution to the above scenario would ultimately fall to buyer choice–based on third-party services (competing on pricing and targeting efficacy) and the dealerships (competing on customer engagement).
Initially the highest bidder would see a higher rank but ultimate the the best value in terms of promotion and service quality is quantified and reflected in the token price.
4) Here is a thought that we developed after reading your whitepaper: Is there a way to create a Chrome extension that automatically tracks all user behavior and saves it on your blockchain?
There could be, but we are starting out as a mobile application and having people search within the mobile app, so there’s more of an opt-in component to it.
We are developing an open source platform and developers can integrate with the chrome browser extensions. One should be careful how the Attestation Points are designed, as we want to make sure users data is secure, private and anonymized.
5) We’d love to join the ‘alpha’ – when do you expect it to happen?
The alpha should be released sometime in September.
Not many teams take their time to answer us and our interview questions – big props to the whole team behind the BitClave ICO!