What is BitClave: Tackling the Digital Advertising Industry
BitClave: The New Digital Media Token on the Block
BitClave is offering a decentralized search engine that eliminates any third party advertising intermediaries with the goal of establishing a strong, more efficient relationship between businesses and consumers.
BitClave champions the cause of “taking the Internet back” from the current tech oligarchy and bringing it to the people all in one cohesive platform.
This decentralized search engine will help users protect their data and better find what they’re looking for, while businesses will be able to advertise at a more cost-efficient and effective rate.
What is BitClave?
BitClave aims to create an open search marketplace to keep advertising prices transparent and fair. The system BitClave proposes would cut out third-party intermediaries such as Google AdWords that keep consumers and marketers separated.
In a BitClave search world, businesses would be able to reach their target audience with an extremely high degree of specificity. This hyper-focused targeting would allow businesses to get more bang for their advertising buck, as well as start showing consumers highly relevant ads. For example, if you’re a yoga studio, you’d essentially be able to find anyone who does yoga and send them your advertisements.
While this functionality can be somewhat carried out using traditional PPC (pay-per-click) methods, it still leads to a lot of waste. Businesses end up shooting a blunderbuss load of ads at a general audience and hope for the best. The BitClave system would be much more accurate.
The BitClave system would use a form of incentivized search, where people would only see ads if they have a stated interest in seeing them. This way, not only are a business’s target audiences easier to reach, but they’re also warmed up and that much closer to making a purchase.
For example, let’s say you’re searching for a new house. You’d begin your search on the BitClave platform, and then start seeing advertisements from realtors who match your criteria. Not only would you have curated and specific advertisements, you would also earn CAT, the BitClave token, when you engage with those ads.
Since the cost of essentially making a sale is much lower under the BitClave system, businesses would be able to bring more value in the form of trial offers, samples, and discounts. These incentives would also receive a higher response rate, further powering the relationship between business and consumer.
All of this would occur without a third party intermediary reaping in huge profits in percentages of ad spend or user data. The BitClave ecosystem will help consumers keep control over their data, and give them the option to reveal personal information to businesses.
BitClave joins a handful of other digital media-based tokens in attempting to tackle the digital world.
The advertising industry alone is worth about $550 billion, with Facebook and Google taking the lion’s share. It might seem extremely ambitious to attempt to tackle companies like Google, Facebook, Microsoft, and Baidu, but that is a common note in the crypto-revolution.
When you zoom out of focusing solely on BitClave for a moment and make yourself aware of other projects in the space, you might start seeing sparks.
BAT: The Basic Attention Token is also looking to tackle the advertising world and is offering a platform where users are paid for their attention when watching ads, and publishers receive the majority of ad revenue directly.
AdEx: This blockchain-based ad exchange aims to disrupt the online advertising landscape to combat advertising fraud, privacy, and consent to receiving specific sponsored messages.
While the above projects could technically be considered competition, they’re all on a mission to uproot the current advertising landscape. With Facebook and Google receiving 73% of all online ad dollars, the targets are clear.
The Bitclave Team
BitClave was founded in 2016 and is headquartered in Mountain View, California. To make matters even more interesting, it operates out of Google’s main campus. This gives BitClave the opportunity to recruit high-level talent from the surrounding areas.
The CEO is Alex Bessonov. Bessonov has experience working with startup accelerators as well working as a software engineer with Microsoft, eBay, and Informatica.
BitClave’s CTO is Patrick Tague. Tague has experience in mobile, embedded, and wireless security.
BitClave (CAT) Trading History
The writing of this article finds BitClave at a pretty interesting spot. The project recently raised $25,547,000 USD in a successful ICO that lasted from November to December. It’s currently listed on a few small exchanges and has seen some substantial growth.
The exchange rate at the time of the ICO was around $.07/token and has jumped significantly in its first few days on market.
Although BitClave hasn’t yet hit some of the larger exchanges, it still seems like it has plenty of room to grow.
BitClave is currently entering its post-ICO stage, and if its ICO is any indication, it seems like it will continue to snowball attention in the cryptocurrency community.
Check out their whitepaper to learn more about the project and its place in the overall digital media world.
BitClave’s success in the near term is going to be tethered to its ability to grow its user base and demonstrate further utility for its token.
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ABOUT THE AUTHOR
ABOUT THE AUTHOR
Alex Moskov is the Founder and Editor-in-Chief of CoinCentral. Alex leans on his formal educational background (BSBA with a Major in Finance from the University of Florida) and his on-the-ground experiences with cryptocurrency starting in 2012. Alex works with cryptocurrency and blockchain-based companies on content strategy and business development. He privately consults entrepreneurs and venture capitalists on movements within the cryptocurrency industry.
His writing has been seen in The Hustle, VentureBeat, Yahoo Finance, Harvard Business Review, and Business Insider. His articles on CoinCentral have been cited on publications like Forbes, TechCrunch, Vice, The Guardian, Investopedia, The Motley Fool, Seeking Alpha, and more.
He also regrets not buying more Bitcoin back in 2012, just like you.
You can connect with Alex on Twitter.