BitClave partners with Bancor to use smart tokens across the BitClave Active Search Ecosystem (BASE). BitClave has joined the Bancor network and will become a member of its protocol family. The Consumer Activity Token (CAT) will be using ERC-20 token standard, compatible with all exchanges and become tradeable with the rest of the coins on the Bancor Network.
BitClave is a startup company using blockchain to eliminate ad service middleman and create a direct connection between businesses and customers. BitClave is building a decentralized search engine that helps its users truly find what they are looking for and get compensated every time they search privately for products and services from their favorite brands, making third-party advertising networks unnecessary and annoying ads a thing of the past.
On the BitClave Active Search Ecosystem, customers exercise full control over their identity, deciding who has access to their data while earning CATs each time businesses use their data to make them offers. Through this platform, businesses can serve personalized, relevant offers directly to users who have already expressed interest in their products and services, significantly increasing their return on advertising spending. The initial vision for the BASE and CAT is based on Ethereum technology — an open source, blockchain-based, distributed computing platform which utilizes smart contracts.
Bancor enables the easy creation of smart tokens, which allow for newly embedded functionality into cryptocurrencies. With the ability to hold other tokens in reserve and to be traded directly with their own smart contracts, as opposed to any counter-party, smart tokens can instantly be exchanged for tokens of all types on the network, enhancing liquidity and facilitating usage-driven and algorithmic price discovery.
“We are very proud to announce this cooperation with Bancor and become a part of its ecosystem. We believe that will contribute to the future evolution of our BASE platform, benefiting businesses and consumers,” said BitClave’s founder Alex Bessonov, the former chief security officer of LG Electronics.