Blockchain startup BitClave is planning to launch what they coin ‘the first product of its kind’ called the “Bitclave Active Search Ecosystem” (BASE) which will result in advertisers and online consumers receiving value from every relevant search query in the BASE ecosystem.
The startup says BitClave’s BASE reduces the cost of online interactions between the Internet users and online advertisers by eliminating the middlemen using cryptography and activity ledgers to create smart contracts and that using the BASE application, a user can profit off of every search result in which his demographic information meets the ideal customer profile that the online advertiser is willing to pay for. Adding that users receive peace of mind from having their data securely stored on the Blockchain, which is unhackable.
“Online retailers currently spend billions of dollars trying to reach customers through online advertising campaigns which, for the most part, waste money on targeting people outside of the advertisers’ demographic, costing millions of dollars in lost sales to the advertiser in the process. What if there were a way for online advertisers to only target those who needed their product and had buying potential? Meet BitClave, the cure-all to many of the challenges that online advertisers currently face.”
How does this work?
Each relevant search query credits the user a certain amount of Consumer Activity Tokens (CAT), the custom currency of the BASE ecosystem, from the online advertiser, which he or she can then in turn use to pay for online or in-store merchandise from any retailer which accepts the CAT currency. As a byproduct, BitClave says their open source BASE has the potential to become the most advanced affiliate rewards program of its kind, enabling customers to not only get rewarded from searching for relevant products, but also enabling advertisers to avoid wasting money on ads that reach those who do not qualify as their target customers and rewarding customers for each search made within the BASE partner ecosystem.
The team says they are already in discussions to expand its BASE ecosystem by engaging with large online retailers and will aim to hit one million searches per month in the coming months.
“The platform is built by best-in-class security experts such as Alex Bessonov, former Chief Security Officer at LG Electronics, Patrick Tague (PhD) and Emmanuel Owusu of Carnegie Mellon University, and Vasily Trofimchuk, founder of Astra as well as twenty engineers with a variety of diverse experiences in the Blockchain and adtech verticals. The advisory board also consists of Gerald Beuchelt, the CISO of Demandware as well as Kevin Doerr, the SVP of GoDaddy.”
On July 25th, BitClave will for the first time, open the BASE ecosystem to the public and give the opportunity for all accredited investors to purchase tokens in a token sale. They are currently opening up pre-ICO discounted funding.
Retail, Customer Loyalty, eCommerce Application
“With eCommerce becoming increasingly competitive and hundreds of brick-and-mortar stores closing each month, retailers are now placing all their bets online and spending billions of dollars competing for consumers’ attention with costly online advertising campaigns which, for the most part, are ineffective in reaching relevant audiences. The result of such competitive pressures in an increasingly crowded market are shrinking margins for retailers due to decreasing revenue coupled with higher customer acquisition costs. What if there were a way for retailers to gain a competitive edge by cutting costs through less advertising but more relevant ads, increasing revenue while simultaneously establishing greater customer loyalty?”
“The cure-all that retailers have been looking for has finally arrived with Bitclave’s Blockchain based BASE (Bitclave Active Search Ecosystem), which seeks to alleviate the pain felt by retailers, caused by the increasingly competitive eCommerce landscape, often dominated by companies such as Amazon and Alibaba.”
BitClave say they can increase average transaction values for retailers and cuts advertising cost through BASE which allows retailers to eliminate the middlemen in traditional search advertising.
Using Bitclave’s BASE, users can store their data securely on the Blockchain and only allow retailers to advertise to them on a case-by-case basis by opting in and establishing smart contracts directly with retailers who also utilize Bitclave’s BASE. The incentive to opt-in and adopt the BASE application comes from the user’s desire to reclaim their personal information and the earning potential that comes from each search query. The demographic information meeting the ideal customer profile will enable the consumer to receive Consumer Activity Tokens, (CAT)’s from retailers that are part of the BASE ecosystem, which they then are able to use within the ecosystem of BASE retailers toward their next transaction.
Cybersecurity, Internet Monopolies Application
“The probability of potential data breaches are becoming more and more of a threat to the world economy as Internet giants become increasingly attractive targets, as evidenced by the hacking of Yahoo during its acquisition talks with Verizon, leading to 500M users’ private information being exposed and a $350M decrease in valuation overnight. Each new cyberattack results in a loss of trust and customer loyalty, a tarnishing of brand, and irreparable damage done to millions of users’ lives due to exposure of personal and financial data. With the mass adoption of IoT devices, the stakes are only becoming higher, with users’ offline behaviors in the home, gym, workplace and on the road all stored in the cloud and vulnerable to data breaches and exploitation. With each new cyberattack, internet users realize the increasing need to safeguard their personal data, to protect their personal lives, finances, and careers.”
Bitclave, founded by the former Chief Security Officer of LG Electronics say they seek to bring peace of mind to Internet users, by protecting users from hackers by safeguarding their data on a nonhackable Blockchain infrastructure and allowing users to opt-in and allow only select organizations to access their data in one-off “smart contracts”.
For more information check out their website.
- UC Berkeley Opens New Blockchain Lab – Steve Chen Appointed to Co-Lead Newly Formed Berkeley Blockchain Lab - December 10, 2017
- Peter Vessenes Announces Deluge Network To Support a Safe and Direct Way to Contribute Bitcoin Directly to ICOs - December 5, 2017
- EXMO Launches Token Sale with Blockstarter’s ICO Solution - December 5, 2017
- AdHive, A Blockchain-Based Native Advertising Platform, Engages with WINGS DAO Platform - December 5, 2017
- Perkins Coie Adds SEC Attorney in San Francisco with Fintech and Blockchain Experience - December 5, 2017
- Cryptocurrency Monero Announces Breakthrough Online Shopping Initiative Featuring Top Global Artists’ Music and Merchandise - December 5, 2017
- Bitcoin for a ‘bit’ of Caribbean paradise - December 5, 2017
- With the Launch of SunCoin, Solar Bankers Takes On the World’s Energy Giants - December 4, 2017
- Blockchain News Is Merging With Token Report - November 30, 2017
- Mira launches Pre-ICO for Mira – an Easy and Convenient Way to Buy, Store and Send Cryptocurrency - November 23, 2017
- Dash and KuvaCash Partner to Fight Inflation in Zimbabwe with Cryptocurrency - November 22, 2017
- INS Ecosystem Partners with Ambrosus to Overhaul the Grocery Supply Chain - November 22, 2017
- Global Debt Registry Unveils Collateral Pledge Blockchain Proof of Concept - November 22, 2017
- Ripple Appoints Former New York State Superintendent of Financial Services Benjamin Lawsky to Its Board and Ron Will as CFO - November 22, 2017
- Advised by the Co-Founders of YouTube and Twitch, Theta Announces a Blockchain-based Video Delivery Network - November 22, 2017
- Modex adds top advisor from Google ahead of ICO - November 22, 2017
- Decentralized Ad Exchange AdEx Partners with INK to Handle the World’s First Blockchain-based Ad Auction - November 22, 2017
- Zilliqa Lowers Funding Cap Despite Heavy Demand from Investors - November 22, 2017
- Health Startup Etheal Combines Blockchain Technology with Micro-Incentives to Build a Peer-Reviewed Global List of Health Professionals - November 22, 2017
- Bitquence Rebrands as Ethos.io, Charting a Course to Unlock Crypto and the Future of Investment for the Masses - November 22, 2017
- Eidoo Introduces User Friendly ICO Engine – Allowing Crypto Startups To Launch And Manage Their Own ICOs For Fundraising On The Blockchain - November 22, 2017
- Simdaq Launches Social Platform for Democratisation and Development of Cryptocurrency Trading - November 22, 2017
- Gameflip Shatters FLIP Pre-Sale Goals, Sets Sights on December 4, 2017 ICO - November 22, 2017
- Golden Alliance Gold Mining Launches Token Sale - November 22, 2017
- Genaro and Storj Labs Announce Collaboration and Product Integration - November 22, 2017
- Metal (MTL) Now Available on the Chinese Cryptocurrency Exchange - November 22, 2017
- Mark.space & Jaguar Land Rover Announce Cooperation - November 22, 2017
- Exscudo – EON Testnet Was Successfully Updated - November 22, 2017
- Valorem Foundation Launches All-new Cryptocurrency Platform - November 22, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 22, 2017
- Brave expands Basic Attention Token platform to YouTube - November 22, 2017
- Narrative Launches Blockchain Based Social Network That Puts Revenue In Your Pocket, Not Mark Zuckerberg’s - November 22, 2017
- Gladius Uses Blockchain and Spare Bandwidth to Revolutionize Cyber Security - November 22, 2017
- Indorse Announces Partnership with App Store Cryptocurrency, AppCoins, ahead of MVP Launch - November 22, 2017
- Secutix And The Paléo Festival Nyon Announce The Success Of Their Blockchain Pilot Project - November 22, 2017
- ING launches major addition to blockchain technology: Zero-Knowledge Range Proof solution - November 22, 2017
- Cofound.it Announces Teams Participating in Upcoming Live Crowdsale Event - November 22, 2017
- PUBLIQ goes public: The blockchain and AI company that fights fake news announces the start of its Initial Token Offering - November 22, 2017
- Blockchain for Business SophiaTX Reveals New Details of Platform; Confirms Date for Token Generation Event - November 22, 2017
- BCShop.io Launches Partner Program - November 22, 2017
- World’s First Social Entrepreneurship Platform Moms Avenue Challenges Etsy by Gearing Up With Blockchain - November 21, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 20, 2017
- Pundi X integrates NEM blockchain to Bring Cryptocurrency Payments Into Retail Stores - November 20, 2017
- Fujitsu Develops Security Technology to Safely Connect Blockchains - November 20, 2017
- Jibrel Network Announces a Highly Successful Pre-sale Round - November 20, 2017
- KRAFTWERK on Blockchain - November 20, 2017
- MintHealth: Empowering Patients to Take Control of their Health and Data via Blockchain Technology - November 20, 2017
- IBM Completes PoC Of Blockchain-based Shared KYC With Deutsche Bank, HSBC, MUFG And Cargill, IBM Treasuries - November 20, 2017
- LetsEnhance.io to process images on Neuromation Platform - November 20, 2017
- Blockchain And AI Researchers Propose A New Model To Return The Control Over Human Life Data To The Patients And Accelerate Biomedical Research - November 20, 2017