This Company Wants People To Profit From Their Own Data

This Company Wants People To Profit From Their Own Data
Advertising

BitClave wants to challenge Google's ad system by connecting consumers and advertisers more directly using the blockchain

Zack Palm
  • 7 august 2017

Anyone who uses Google’s search engine has likely noticed that the first few results contain advertisement blocks relating to the keywords used. Of course, companies pay Google to appear in these slots to reach interested online viewers. Tech startup BitClave wants to give users and businesses a better experience by having the two parties engage in a more direct relationship. All of this would take place within a blockchain, ensuring that no outside parties can gain access to a person’s data without their knowledge.

The blockchain program works involves a consumer getting into a smart contract with BitClave. From there, the individual can pick what kinds of companies they want to see advertised and then use BitClave’s search engine—which functions much like Google, minus the mass of random ads. Per the contract, BitClave’s system gives the user a small payment for every ad they open and view.

In the background, the blockchain records when a person views an ad and alerts the company, which sends the payment. Some contracts may include the person getting a small payment even if they didn’t view anything from the company, but the advertisers may no longer target them in the future.

If this technology proves successful, both consumers and companies would gain. The program would give companies a better idea of who they should target in their online campaigns and how to present the ad. They would see a direct engagement and have the opportunity to act on it. A user benefits not only from seeing fewer ads that they don’t care about, but also from learning about products they might actually want to purchase.

BitClave will release their Initial Coin Offering (ICO), a form of crowdfunding through cryptocurrency, in September for the public to start funding the project. However, on July 25 the company had a pre-sale of the ICO to see how much the blockchain community supported the idea. The pre-sale ended on August 1, and BitClave said the response was “off the charts.”

BitClave is running through Ethereum blockchain, an open software platform available for blockchain developers. An alpha of the program should release near the end of this summer.

BitClave


Lead Image: WOCinTech | CC | Image resized

Anyone who uses Google’s search engine has likely noticed that the first few results contain advertisement blocks relating to the keywords used. Of course, companies pay Google to appear in these slots to reach interested online viewers. Tech startup BitClave wants to give users and businesses a better experience by having the two parties engage in a more direct relationship. All of this would take place within a blockchain, ensuring that no outside parties can gain access to a person’s data without their knowledge.

+advertising
+blockchain
+data
+fitness / sport
+Google
+retail
+sport & fitness
+startups
+technology

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