So much of modern life is based around the internet. We use it to communicate with others and to find out information, but with the latter we have very little choice of how to do it. The largest internet companies give us access to free searches, free mail clients, and free ways to chat- but in reality these services are not being provided for free. In return, we are providing them with valuable information about ourselves, which they then sell on to companies looking to target specific consumers. This is how the search engines make their money, but BitClave is looking to change this- by allowing you to monetise your own information.
How it Works
BitClave offer their own search engine that is accessed through their mobile app. The difference with this, as opposed to other search facilities, is that you retain control over all of the information you are providing, and are able to earn from it.
Say, for example, you are looking to buy a new car. You might enter the details of what you are looking for into a traditional search engine, and they will provide you with a series of links to companies. The data that has been collected on you previously, such as the type of vehicle you are looking for, your age range and level of wealth, will be matched against parameters that car vendors have registered as wanting to target, and they will show up at the top of the results you are given (depending on how much they have paid to the search engine to appear in your results).
In the case of BitClave, this process works differently. After searching for what you want, you are then given the option to share your information with certain dealers. They are able to present you with an offer, and no matter whether you take advantage of this offer or not, you will receive a payment (the money that would usually go to the search engine). The payment made to you will be in a crypto-currency called CAT, which is short for the Consumer Activity Token.
This whole process is much better for both customer and advertiser, because you will only see the adverts you want to, and companies don’t spend vast amounts on presenting to adverts to people who aren’t likely to be interested in what they are selling.
BitClave and The CAT
BitClave are currently in the process of setting up this system. So far in 2017 they have designed the basic infrastructure, including app development, marketing strategy, and creating a white paper (that can be seen at this link: https://docsend.com/view/84tv53w .) The next step is to raise funds to take the vision to the next level, which will be done by launching their crypto-currency, the CAT. This process will also assign a value to the CAT, so it’s worthwhile for users of the services to accrue.
They are currently waiting to begin the Initial Coin Offering of the CAT, and following feedback from their community had decided to delay the start of it until the BitCoin fork has completed. This was due to happen in November, but because it has been indefinitely delayed, the initial plans of the ICO are back on track, and BitClave envisage launching soon. To keep up to date with the latest developments, keep an eye on their blog at https://medium.com/bitclave/draft-bitclave-token-sale-terms-27cd2f9a6be2 where they will give at least 48 hours notice about when the sale will begin.
The target of the sale is to raise $25,547,000. In total there will be an anticipated cap of 2 billion CATs, with 1 billion available in the ICO. When it starts, payments will be accepted in the usual currencies (such as BitCoin, Ethereum, LiteCoin and Qtum), which will need to be deposited into a new wallet that you set up with BitClave. Once the sale is complete, the corresponding amount of CAT’s will become available in your account.
Once the search engine is functioning, the demand for CAT’s will skyrocket. Advertisers will need to buy the tokens to be able to purchase services to target their audience, and users will receive a portion of that fee for making their details available to them and viewing their offers. The tokens will be available on the usual crypto exchanges, so will become increasingly valuable the more demand there is.
BitClave have come up with an ingenious solution to the annoyance of targeted ads in search results, and at the same time giving early adopters the chance to help the company thrive, and share in its successes. If it sounds like something you are interested in, you should check out their website where it’s already possible to make a deposit to ensure you get the best rates when the sale starts.