1. Home
  2. Analytics
  3. Basic

Bitclave Basic Review

Project review

About the Project

Name: BitClave

Ticker symbol: CAT

Project type: Decentralized Search Ecosystem

Website: https://www.bitclave.com

Whitepaper: https://www.bitclave.com/en/white-paper

 

ICO details

ICO: September 15, 2017 - October 15, 2017

Total tokens: 2,000,000,000 САТ

Available in Token Sale: 50%

Fundraising goal: $50,000,000

Min cap: no data available

Price: $0.07

Bonuses: 1st hour - 15%, 1st day - 10%, 2-7 days - 7%, 8-30 days - 5%, 30-45 days - 2%, 46-60days - 0%

 

Team

Team size: 20 members

GitHub: no data available

 

Social media

Bitcointalk: 250 posts, read 15276 times;

Telegram: 1554 members;

Twitter: 158 tweets, 18.3k followers;

Medium: 20 posts, 73 followers;

Facebook: 9.9k likes, 10.0k followers;

Slack: 2308 members

Project description

The BitClave project is a decentralized search system that aims to secure privacy of personal data, and seeks to establish and maintain a new standard of service provider and consumer cooperation under its privacy policy.

The BitClave Active Search Ecosystem (hereinafter referred to as BASE) allows advertisers, trademark owners and users to receive remuneration from relevant search queries, with no intermediaries. BitClave client data is secured against hackers; clients can control the use of their personal data with blockchain contracts.

BASE is a platform where customers can choose their desired type of goods or services and service providers can cooperate with target consumers. So it is a more efficient process for both parties. In addition, the prices of services and goods are decreased at the expense of remunerations received for views of adverts.

Another positive point to the platform’s way of working is the absence of intermediaries; this protects against the disclosure of users’ personal data. The project offers the use of smart contracts; it is an Ethereum blockchain-based platform. The Consumer Activity Token (CAT) system will manage BASE activity. Tokens are used for online payments for information, services, and goods within the ecosystem. The token holders are business owners and individuals.

BitClave is a legal entity registered under Singapore law. Their registered office is in Mounty-View, California.

Resume

The market sector is developing quickly, with many innovative opportunities. Customer demand is the engine of growth. Taking into account current requirements, BitClave’s proposal is timely and profitable both for business representatives and customers. We believe CAT token demand will be increased because of the constant increase in numbers of service users. Economics and blockchain systems development will also help the service’s success.

Conclusion

Pluses (strengths):

  • BitClave is the only blockchain search system at the moment, so it can compete on the market if it implements the privacy concept.
  • The platform can have an unlimited pool of potential users, including sellers and buyers.
  • The project consists of 20 professionals. Most of them have work experience in large companies dealing with data privacy, payment systems, and IT.
  • Examining the project, we realize that the platform is very popular with users who monitor their activity regularly.

Minuses (weaknesses):

  • MVP is not active, so we cannot try out the platform in full. The developers promise to launch a prototype at the beginning of September 2017.
  • The Roadmap does not include launch dates or a development plan.
  • The potential network dimension is unclear; we question the speed of the processing of requests. Will request processing be as efficient as Google’s?

Review of competitors

Bitclave uses blockchain technology to potentially reform today’s market, but it is a very difficult task to compete with the Google system. As early as 2012, Google Chrome active user number was 310 million.

In addition, in 2017 the new Weipoint search system using Ethereum was launched. This is used to search smart contracts concluded for particular projects or tokens. It is also a browser for decentralized applications (DApps). Weipoint intend to enlarge the number of services for resources under Ethereum.

In spite of a similar concept and name, the BitClave token does not resemble the Basic Attention Token (BAT). BAT tokens are remuneration for user views of  adverts, and for advertisers for their incentivization of users to view adverts. BitClave tokens are paid for activity that generates leads for the ecosystem.

Market and industry review

We know that online advertising is used to attract potential customers; service providers and manufacturers spend much money for online advertisement creation, demonstration, views, and clicks. These expenses cut into the profit, but do not guarantee sales increases. Advertising market volume is $550 billion1, but it is not efficient.

There are no analogous search systems on the current market. The authors describe today’s search system market in the whitepaper. They give details including a description of the process of payments between search systems and vendors for clicks of the potential customers. Of course, the number of internet users is going to increase, so the advertising content market is increasing as well.

BASE is able to store and manage a large volume of information. This data includes a description of clients’ activity, with fixing of certificate points. Information on clients’ activity includes everyday actions like number of visits to a building, Wi-Fi access, purchases, and the usage of mobile applications, for example for food delivery purposes. These actions are processed and certified with cameras, web pages, websites, mobile devices, applications, cloud servers, Wi-Fi routers, and Bluetooth hubs. This data is not planned to be sold to large scale advertisers; they intend to provide it to users with the help of decentralized blockchain technologies.

Technical aspects of the platform

The history and profile are stored in Ledger. This guarantees that dealers’ money is spent efficiently. It is intended that every user has a rating mark estimated after calculation of the number of advertisement announcements and actions conversion ratio. These rating marks help business owners to determine potential customers. For example, if the customer’s index is high as to received advertisement content, but the index of advertising actions is low, business owners can conclude that the likelihood of future purchases is low. So by examining activity, business owners can identify clients likely to be interested in certain products or services in great detail, giving an opportunity to cut advertising expenses. Therefore, using the BitClave system we avoid intermediaries in this way. Business owners spend their advertisement budgets on the target audience; the sales volume is increased. Besides that, interested clients are remunerated for views of adverts and actions taken. Remuneration amount is under 50 US dollars.

Documents

All necessary information is available in the whitepaper. There, you can find descriptions of engineering aspects of the platform, seller and buyer cooperation, and Ledger. In addition there is a description of the search engine market, including search engine interaction with sellers using advertising content. A separate section explains the meanings of “Attestation Point” and “Linkability”. The paper describes in detail the method of rating potential buyers with respect to their number and types of searches.

ICO

The Pre-ICO started on July 25, 2017; duration of two days, ending July 27, 2017;

During the pre-ICO $1.8M was raised. This shows the specific demand for САТ.

The ICO starts on September 15. There will be two phases with $25M hard cap each. The crowdsale token price is $0.07. The Project intends to raise $50,000,000.

CAT token distribution:

50% - Fundraiser

30% - Long term budget;

10% - Community grants;

10% - Team.

ICO-raised funds distribution:

38% - development; helping to improve the ecosystem.

7% - administration expenses;

37% - community; growth of the BASE community worldwide.

5% - advisors; PR, partnership and others.

8% - contingencies.

Plans of the project development

The first period of operation of the BitClave platform will focus on sectors popular among individuals: the automobile market, real estate market, accommodation sector, and other retailers, for example Target. They deal with the main advertising suppliers, for example Amazon. Bitclave representatives state that they are currently negotiating with several large- and medium-scale representatives of accommodation businesses and retailers regarding access to their client database.

As BitClave is developing a decentralized search ecosystem, it will help the developers to create applications and services through BASE customizations.

At the time of writing, BitClave has already concluded partnership contracts with payment systems routers. This will help the company to cooperate with companies entering the market.

MVP is not currently available. In his interview, Aleksey Bessonov (Алексей Бессонов), Project CEO, stated that this will launch by the beginning of September.

Team

The staff includes 20 engineers. There are also advisors present who are world class experts in the field of privacy, payment systems, and blockchain technologies. The majority of team members are working in San Francisco and California; some staff representatives also work in Russia. You can read information regarding their experience on LinkedIn. The BitClave founders state the BitClave Project as their current place of work.

Alex Bessonov – CEO. Alex has been working in the field of privacy, security and the blockchain industry for more than 20 years. He worked for LG Electronics as a Security Department Head.

Patrick Tague – CTO. Patrick has an academic degree in ЕСЕ (electrical&computer engineering) from Carnegie Mellon University, CMU. He is an expert in mobile, integrated and wireless security.

Emmanuel Owusu – Chief Architect. Emmanuel is a candidate in sciences from Carnegie Mellon University.

Vasily Trofimchuk – Project Management. Vasily is holder of an MBA and a Software Development Master’s Degree. He is an expert in advertising, game theory, blockchain technologies and management. He is the creator of the Astra Studio platform (www.astrastudio.us).

Yan Michalevsky – Security Architect. Yan is a Stanford University Candidate Of Sciences. He is an entrepreneur and expert in computer systems and privacy programming support.

Andrey Shashlov – Core Developer. Andrey is a full stack developer focusing on Android and iOS. He is an entrepreneur, innovator and enthusiast in the field of blockchain technology.

Eugene Kaganovich – Data Architect. Eugene is a full stack developer with in-depth knowledge of Java. He is an expert in the field of cloud safe storage of company data.

Mark Shwartzman – Data Scientist. Mark is a holder of a Tel Aviv University Master’s Degree. He is an expert in data and video compaction. He is an enthusiast and developer in the field of Bitcoin.

Marketing

The founders use a bounty program. Tokens are paid for reposts on Facebook, Twitter, for translations of the whitepaper, moderator’s duties on local Bitcointalk forums, and the adding of outlines and avatars on Bitcointalk forums. The total Bounty Program budget is 5,100,000 САТ.

Project members contact the community via Slack, Telegram, Facebook, and several Bitcointalk discussion threads. On Medium and Twitter you can find information on the project provided by its members. Video materials are available on the BitClave Youtube channel.

The community is active on all mentioned social media; they monitor the project’s development attentively.

 

The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.

The information contained in the document is for informational purposes only. ICORating received monetary compensation from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.