Free is a very loose term when it comes to digital offers. From free search to free mail and chat, no transactions are happening, but someone is profiting.
Data and information has become the currency of the Internet, but with the advent of Blockchain, there is a new digital currency which BitClave is trying to harness in order to decentralize and disrupt the online ad market.
Decentralized search engine
Because the Internet is so vast and wide, search engines have become our friend, but they are also an enemy of data. When you are searching or inputting anything on search engines that information gets monetized by these giant search engines who can “sell” it to advertisers. However, this ad market is so flawed that these ads may not even reach you.
In the meantime, as the data provider, you are neither charged nor compensated, but BitClave believes they have a solution that can lead to compensation, as well as the disruption of online adverts.
The decentralization of search engines effectively breaks the entire online advertising model as it enables parties to engage in mutually beneficial ways without a central authority. In this case, BitClave believes that through their Blockchain model, they can cut out the ad service middlemen.
Case in point
Searching and trawling the Internet is a skill and often an art. Some people are better at finding what they want than others and a lot of it has to do with the work they put in.
BitClave has identified this aspect of online action as work, as well as a place where valuable information is formed. Therefore they are looking to allow people to have control over what they share, and even allowing them to get paid for it. Through the Blockchain, users are empowered and paid, rather than the search engines who happily “sell” your data.
For example, searching for a car through a decentralized search engine such as BitClave will allow you to share the data you have come up with if you choose. In doing so, the people who want that data, such as car dealerships, can offer you a price for the information regardless if you take the car or not.
Retailers and others can thus respond to searches with targeted promotions and users are paid for sharing their data and valuable information. Every participant in the base system is incentivized by Consumer Activity Tokens (CAT), according to BitClave.
Keeping data away from online advertising monopoly
BitClave is of the belief that personal data should belong to the users, and as such, the divulgence of such information should be with their consent.
This is not the system as it stands though, information is siphoned and distributed by online advertisers and centralized search engines who work for each other and not for the user.
The BitClave search engine helps find what the person is looking for and apparently lets users get compensated for their data directly taken from the retailers they are interested in. The entire aim then is for BitClave to attempt to make third-party advertising networks unnecessary.
BitClave has completed a very successful private and public pre-sale token event raising over $16 mln.The BitClave team will be launching the full sale of their token to be carried out in November.