Search engines rule the internet. Every forty seconds, Google alone handles over 40,000 search queries worldwide. With every click, they consume more data from users around the globe. But there is a new-kid-on-the-block that threatens to break up the centralized power search engines hold: blockchain technology.
Why The Current Search Model is Broken
Blockchain’s entry into the search engine model is an interesting development, considering its origins. The power to ‘break up’ the flow of information and data through a handful of search engines—namely Google, Facebook, and Amazon—is nothing to laugh off. It has significant potential to decentralize the internet as we know it.
Consumers and businesses are hungry for a solution to search that doesn’t involve them trading off their private information. Today, as soon as you type in a question into a search bar you become a product. Even more troubling, you don’t see a dime from your own private data. Giant search engines soak up your information and track your movements without giving you any kickbacks.
On the other hand, businesses are equally frustrated with a lack of quality traffic. Facebook and Google represent 20 percent of the entire world’s ad spending, coming in at $26.9 billion and $79.4 billion respectively. However, it’s estimated that 50 percent of all ad traffic is ‘bot traffic’. Where does that leave businesses who want the best ROI? Some would argue there is a severe need for change. The current search engine model is broken. It’s time for a real change. That change lies in blockchain technology.
Integrating Blockchain Technology with Search Platforms
Blockchain technology provides a solution to the internet’s centralized power problem. Instead of hoping to replace the current search structure with the same exact type of service, blockchain technology puts the power back in the people’s hands. And several blockchain-based search engines have been successful with their efforts.
Presearch, Smartbit, and Faroo have all successfully launched search engines backed by blockchain technology, instead of fueled by consumer ads.
For example, with Faroo, instead of ranking sites based on the number of backlinks they have—like Google and Bing’s current model—websites are ranked based on how much time and how frequently visitors come to their page. This encourages people to download their software and use it to search websites, or if they prefer they can remain anonymous. This give and take approach is wholly unique and only made possible because of blockchain technology.
One up-in-coming search engine site that stands out from the pack, however, is BitClave.
BitClave’s Approach to the Search Engine Data Dilemma
As it stands, users are not impressed with the major corporate takeover of the internet by companies like Google. BitClave’s approach is equally innovative, however. Their end goal is to disrupt the digital ad market. They want to cut out the middlemen and connect users and businesses directly.
BitClave has a radical belief system that encourages customers to have control over when and how their data is used. The BitClave search platform allows customers to decide who views, accesses, uses and sells their data. No offer is presented to users on their platform without express approval given by the customer. On the other hand, businesses benefit because they have a direct connection to qualified consumers.
Targeted promotion levels up to a whole new space all thanks to the blockchain model. All promotions are based on the user’s previous search history similar to the current model, but with one glaring difference—customers are given a choice to reveal that data and are compensated for it. As users engage with advertisements, they earn tokens for the data they choose to share with businesses. And that’s where their data stops. It isn’t sucked into an infinite business-only black hole for data. It’s a customer-to-business search engine approach unlike any other. BitClave has completed a very successful private and public pre-sale token event raising almost $16M and is expecting to reach $50M during the crowdsale in November.
The Future is Blockchain
As Blockchain technology is further refined, it will undoubtedly integrate with the real world in untold new ways. However, the future of search has already undergone a dramatic change. It’s now up to consumers to join the new wave of technology and take back control of their data.