The ICO will take place on November 29th and the public will have the opportunity to purchase the company’s Consumer Activity Tokens (CAT).
BitClave, which expect to reach $25.5m with the sale, aims to make searching for items online a more pleasant and rewarding experience for the consumer, and transform how companies use data to target ads at potential customers. The platform is aiming to develop a decentralized search engine called the BitClave Active Search Ecosystem (BASE), where users will be paid in CAT tokens every time a business uses their data to target them and will have control over the ads that are shown to them. Businesses will use the data to build uniquely customized ads based on each customer’s individual preferences.
Basically, the idea is to allow customers to regain control over their own personal data overcoming the current situation in which platforms like search engines and social media sites record their users’ data and sell it to advertising companies who use it to build ads. The result is that consumers don’t have control over their own data, and end up bombarded with annoying and often irrelevant ads.
By giving customers the choice over who can use their data and allowing them to opt in or out of the ads they see, BitClave will return the control to the consumer. The platform also ensures that advertisers can be more economical with their targeting, because their ads will only be viewed by interested customers instead of being wastefully sprayed all over the internet.
Commenting on the sale, Founder Alex Bessonov, the former CSO of LG Electronics, said:
“The presale result was extremely encouraging, and we’re grateful to our community and everyone who made it such a great success. Now we’re focusing on ensuring a successful crowdsale, and building a platform which will transform the way online search works by putting the user’s privacy and autonomy first.”
To find out more about BitClave and how to get involved in the token sale, please visit www.bitclave.com or get in touch at firstname.lastname@example.org.