BitClave envisions a world where smart contracts replace the need for middlemen, changing the way communities use the Internet. Our main goal is to build a new standard for relationships between businesses and customers based on smart contracts.
The problem
The existing marketing ecosystem is largely controlled by only a few big players.
When it comes to online advertising, businesses are forced to pay exorbitant amounts of money to “middlemen” in order to reach a captive audience for their promotions. The promotions, however, often get placed among many other ads clogging up the space on crowded banners, or simply end up in someone’s spam box. Businesses also have little to no guarantee that the traffic they generate on their promotions is genuine. In fact, nearly 50% of all advertising traffic is generated by bots, essentially defeating the entire purpose of advertising.
Offline advertising is a similar story. More often than not, offline advertisers promote content with a “hit or miss” mass mailer mentality. Hoards of messages are slammed into users' faces with little or no targeting, resulting in a dubious correlation between offline ad dollars and return on investment. This, along with other factors, contributes to extremely low conversion rates. Promotions are largely delivered to those who simply do not care for the product or whose attention is likely focused on something else.
These ineffective measures, both offline and online, negatively impact the whole service value chain. The more companies are forced to pay to “middlemen”, such as Google and Facebook, the more money consumers have to pay for the products. Businesses end up losing money, and consumers end up paying more for less value, creating a lose-lose situation.
The solution
A decentralized ecosystem directly connecting consumers and businesses.
In order to counteract the problems described above, BitClave proposes a system in which the intermediaries are eliminated. Instead of paying any “middlemen”, companies automatically make personalized offers directly to consumers who have opted in for the service, as illustrated above.
In this ecosystem, consumers have control over their own data and can opt into advertising and analytics services by retailers through the use of smart contracts. This not only ensures that companies are making their offers to an audience that is more inclined to view and interact with the product, but also allows consumers to earn money for viewing these promotions.
This system also ensures increased user privacy. ”Free” services, such as Google and Facebook, often sell user data to brokers. With the BitClave Ecosystem in place, however, this is no longer a concern as companies sell their promotions to consumers firsthand.
