Today, we are pleased to interview Alex Bessonov, CEO and co-founder of BitClave,a decentralized search system that completed their ICO in 32 seconds. !
F = Fintech.xyz
A = Alex Bessonov
F: Tell us about your company. It is stated that you are revolutionizing the search business, right? Where are you incorporated and how did you get that idea?
A: BitClave is a blockchain startup developing a decentralized search platform called BitClave Active Search Ecosystem (BASE). BASE revolutionizes how people interact with search engines and online advertisements. It provides compelling alternative to the current walled off garden of online advertising by prioritizing personal privacy and user control over data while supporting a transparent and streamlined process for businesses to reach customer audiences.
How did we get that idea? I have a solid background in cybersecurity, so data privacy has always been among my top interests. I was always very curious about data management and how people can monetize their data. This background eventually led me to the idea of a platform where users have full control of their data versus somebody reselling it. Then we started discussing and brainstorming with our future co-founders – Patrick Tague, Emmanuel Owusu and Vasily Trofimchuck, and after a few brainstorm meetings we started working on several prototypes.
We all had different backgrounds – corporate, academic, startup and decent experience in different industries, including cybersecurity, blockchain, marketing, business development, which is really helpful. Our team is truly international – some of the co-founders are based in the US, some in Singapore, and we also have people in Russia. So, we were building an international project from the very beginning.
F: Great! What is the difference, or more exactly, what added value does your solution provide to the end user? Could you give some examples?
A: With BitClave users have full control over personal data as well as earn each time a business-facing search service references their data. Instead of ads that are shown out of context and grudgingly tolerated as the cost of using free services, our users see offers on their own terms and are actively involved in establishing the connection with businesses. And they’re compensated for contributing the data that makes all this possible.
Businesses benefit from our system as well. They have a direct relationship with customers and can offer a uniquely targeted promotion. Additionally, businesses that make use of this transparent data and advertising model for reaching audiences have a significant competitive advantage over their competitors that use ad networks that do not prioritize user control or reward user engagement.
F: Why is your approach better than established companies?
A: Both individual concerned with the lack of digital privacy and business seeking an auspicious use of their marketing budget have much to gain from our novel approach to digital advertising.
Currently, users do not play a decisive role in terms of how their data is used outside of the search service. The BitClave ecosystem enables users to control their own privacy preferences, unlike “free” services like Google and Facebook, who have business models based on collecting and selling user data to data brokers.
From the perspective of businesses, most companies are forced to pay exorbitant amounts of money to “middlemen”, such as Google and Facebook, in order to reach a captive audience for their promotions. However, the promotions often get placed among many other ads clogging up the space on crowded banners, or simply ending up in someone’s spam box. Businesses also have little to no guarantee that the traffic they generate on their promotions is genuine. Sellers pay for “impressions, views, and clicks” resulting in extremely low conversion rates, with only a loose correlation to return on investment.
On the BitClave ecosystem, users receive data use payments directly from businesses while searching privately for the most relevant products and services.
On the BitClave’s decentralized search application, companies automatically make personalized offers directly to interested customers instead of paying any advertising “middlemen.”
F: Could you give a precise example with numbers of how much money people can expect to earn with your solution?
A: Sure. There are generally two ways that users can earn money on the platform. The first is by contributing data to the BASE through the use of search services. This data supports audience finding analysis that enables businesses to connect with our uses. Traditionally, businesses pay this money to the advertising network. On BitClave, the business’s marketing budget is paid directly to the end user. The second is through direct offers from business. Businesses can manage marketing campaigns across the platform and include special promotions and offers directly to individuals.
In terms of the payments that user accrue simply from using the ecosystem, the earning potentials for any particular user is determined by the market-driven data pricing. If we take amount of money businesses today pay data brokers as a reference, this can be a significant amount of income for the average user. For example, automotive dealers are typically willing to spend up to $200 per qualified lead and certain single search terms routinely cost businesses using Google Adwords or Microsoft Bing Ads upwards of $50 per click.
F: and on what blockchain you are going to launch the system?
A: There are several blockchain technologies we are evaluating and extending internally including QTUM. We are continuously monitoring new developments in the area of blockchain and decentralized infrastructure and developing technology that meets our needs.
F: Could you show some use cases?
A: There are lots of fields where our platform is applicable. No matter what you are searching for – a new car, legal services, educational programs, new job opportunities, medical professionals, or asset management – you can use the BASE platform.
One of the applications that has already been launched is MatchICO. It is a service that aims to connect investors with new ICO projects. Companies finding the right investors, and investors knowing which companies are the best for them, is one of the biggest hurdles in the ICO world. It can be hard for new ICOs to stand out from the crowd and reach their ideal investor, and investors themselves are still faced with the challenge of picking a viable company. Often, they can spend large amounts of time and resources looking for companies that will make money.
Our own experience in launching an ICO and conducting a token sale gave us first-hand experience with the challenges involved, and inspired us to build MatchICO to make the process easier. Once investors have registered, they can begin to search the platform for projects that appeal to them. They get paid for this, and can also receive personalized offers directly from the project teams. This cuts down on the time spent searching, and the payment means that no money is wasted browsing. For ICOs, it offers a platform where they can reach their ideal investors and stand out from the crowd.
F: Thank you! Are you going to release a multilingual solution or is that planned for after the launch?
A: Sure. The problem we are solving is very common for almost all countries. That’s why our token sale event gained substantial interest all over the globe. And we believe we have great potential to develop our business not only in the US but all across the globe. We will strategically roll out regional products localized for different markets as well as support features, such as content localization, that allow any individual or business to use BASE.
F: What about promotion of your solution? are you going to pay FB and Google to promote your search engine?
A: Yes, this point is a bit ironic since we offer an advertising platform, but while we are developing our solution, we have made use of advertising services offered by Google and Facebook. So far, there are just simply no alternatives. And that’s what we are about to change.
By using these services, we know for sure which parts of those services could stand to be improved and have a greater appreciation for how urgently needed our solution really is.
F: Perfect! Where can interested parties get more information about the ICO? Could you provide your social media channels as well?
A: The best place to get more information about our project or reach out to the team is directly on bitclave.com. We’ll be happy to answer any questions and provide more information.
F: Thanks for the information. One last question: where will the tokens be tradable after the ICO?
A: The tokens will be unlocked on January 1st and will be used in the MatchICO system and others. Once tokens are unlocked we’ll announce it and share more information. Stay tuned!
F: thank you, for this , keep us informed of this event, bye.
A: Of course, bye.