The blockchain start-up BitClave, which is aiming at developing a decentralised search engine, hit a new high by raising over $15 million in its token pre-sale, and is currently receiving commitments as high as $24 million. Following the success of the pre-sale, BitClave announced November 8th, 2017 as the official date for its Consumer Activity Token (abbreviated as CAT) crowdsale.
What is BitClave?
Headed by the former CSO of LG Electronics, Alex Bessonov, BitClave is a platform that employs the blockchain to create a decentralised search engine that aims at eliminating the third-party advertising networks and establishing a direct relation between people and what they search on the web. The blockchain-powered data offers security of the data that users put in and also compensates them for every private search they make for services from their favourite brands and companies.
How does it work?
Officially called the BitClave Active Search Ecosystem, (abbreviated as BASE) this is an innovative platform that offers its users the choice to opt for relevant advertisements while performing a search and earn CATs each time they entertain an advertisement.
All the users have the choice whether or not to reveal their identity and other details to the retailers. They can also choose the retailers that can access their data and each time their data is used by a company to make them offers, they will be paid in CATs, which can then be traded like any other cryptocurrency.
This enables the establishment of a one-to-one relationship between a business and its customer and appears to be a unique way of targeted promotion.
An example would be, say, a user searching for a smartphone on BitCalve will obtain only those offers from companies where there exists an absolute match between the user’s preferences and the target audience of the company. For each offer that the user engages in, he/she earns CAT tokens as a compensation for their time and the data that they share with each company.
Words from BitClave
Alex Bessonov, founder and CEO of BitClave, says, “We are extremely grateful for the support of our community and to everyone who participated in the pre-sale. Our goal as a team is to conduct a successful crowdsale event for our community and deliver on a project vision with the potential to redefine how online search works by prioritising user privacy and control.”
In a recent announcement, BitCalve informed the public about its crucial partnership with Mellon University, Bancor, Carnegie, and Qtum.
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