BitClave CEO Alex Bessonov Discusses the Need for Decentralized Search Platforms

NewsBTC sat with Alex Bessonov, the CEO of BitClave, an upcoming decentralized search engine platform, to discuss its importance in the mainstream world. As we dwelled into a detailed conversation, Alex introduced us to some never-explored-before earning mechanisms within the online ad market. Excerpts from our conversation:

Gautham N: What prompted you to launch BitClave?

Alex Bessonov: Back in 2010, my interest in blockchain was focused primarily on the mathematical and security properties of cryptocurrencies like BitCoin. This initial interest as a technologist grew into an entrepreneurial interest as I started to think more broadly about the many potential applications and the truly disruptive nature of the technology.

Additionally, I have a solid background in cybersecurity, so data privacy has always been among my top interests. This background, as well as my aspiration to build novel kinds of digital systems that solve open technical challenges eventually led me to the idea of a platform where users have full control of their data versus somebody reselling it. BitClave was launched in late 2016 and since then the project has grown into a team that consists of more than 20 engineers and an advisory board of world-class talents in the fields of security, payments, and blockchain.

We are busy building the BitClave Active Search Ecosystem (BASE) which enables direct customer-to-business interactions with no need for intermediaries. It helps users truly find what they are looking for and get compensated each time they search privately for products and services from the retailers they are interested in, making third-party advertising networks unnecessary and irrelevant ads a thing of the past. Unlike the advertising middlemen, BitClave doesn’t make money off of users’ data.

Will an average user be able to access free services on BitClave, as s/he does on mainstream search engines?

Yes, and more than that, users will not just use BitClave services for free, they will be paid. On the BitClave Active Search Ecosystem, consumers have control over their own data and can choose whether to reveal their identity or personal information to retailers as part of their search. At the same time, retailers respond to these searches with targeted promotions, which consumers are compensated for viewing. The ecosystem enables users to control their own privacy preferences, unlike “free” services like Google and Facebook, who often sell user data to brokers.

Blockchain is still not understood – even known – by a majority of the world’s population. How will you introduce a platform like BitClave to them? (discussing your roadmap would be great)

Most of the non-tech users are not interested in deep technical details, they don’t necessarily want to know how exactly blockchain works. For example, when you use Facebook, Uber or AirBnb, the average user does not think about the technical aspects like advanced machine learning algorithms. Blockchain is no different. What is most important to users is the value they derive from those services. In the wake of unstable financial markets, BitCoin provided a lot of value to its users. The value of cryptocurrencies is a key reason we are discussing the technical merits of blockchain tech today. The value we are offering our users is the world’s first end-to-end private search engine that pays.

BitClave is also a great way for the general public to finally get into the cryptocurrency game. There are a lot of people who’ve heard about cryptocurrencies, but do not know where to start. The process can be complicated and intimidating for the non-techie crowd. CAT is a great place to start you earn it with the data you share rather than buying it and your CATs can be traded just like any cryptocurrency.

What’s the status of BitClave platform development at present?

The alpha version is currently being tested internally. We plan to release it near the end of September with periodic platform updates to follow.

How are you funding the platform development?

We completed a very successful token presale in July, during which we raised 1.8 million US dollars within two days, and by the number of registered wallets we see that interest in the project continues to grow rapidly. The official token sale will be launched in October.

However, the token sale is not only about funding the project. It’s a mechanism for building a community around the platform. For BitClave it is, first of all, the way our tokens are distributed. Our CAT (Consumer Activity Token) is the basic “currency” of the BASE platform, and they are used in exchanging information, services, and online goods between customers and businesses. Initially, BitClave has all the tokens and an initial sale is a way to distribute tokens among investors and early users.

How do you propose to safeguard the raised capital?

We are applying many of the lessons learned from other crowdfunding efforts in terms of keeping our community well informed and implementing best security and business practices to safeguard raised capital. We are also engaging very early on with all product stakeholders for input and feedback during product development, raising capital through traditional VC channels, and attracting business partners through a separate marketing and outreach campaign. All of these efforts are aimed at providing real value for our user base and investor community.

How do you think China’s draconian decision to ban ICOs can affect the outcomes of BitClave crowdsale round?

We were actually in China speaking with many interested investor groups when news of the ban first came so it definitely has affected our approach to the crowdsale. We have since canceled all activities related to China and will not accept contributions from Chinese citizens. However, the Chinese ban hasn’t impeded our activities in other countries and China remains is a key market for blockchain adoption although not for crowdfunding since the decision.

Subscribe to our newsletter

Earlier today, on September 18, prominent financial analyst and RT’s Keiser Report host Max Keiser expressed his optimism in regard to bitcoin’s short-term price trend. After reaffirming his interim target of $10,000, Keiser noted that it is likely for bitcoin price to hit $6,000 by the end of 2017.

Recent ban on initial coin offerings (ICOs) and nationwide suspension of bitcoin exchanges imposed by the Chinese government and its financial regulators led to a minor correction on the entire cryptocurrency market. However, almost immediately after the closure of Chinese bitcoin exchanges were finalized, the global bitcoin exchange market recovered, as bitcoin price surpassed the $4,000 mark.

September has been an interesting month for bitcoin in general, in terms of scalability and growth. The rapid rate of integration of the Bitcoin Core development team’s transaction malleability and scaling solution significantly reduced transaction fees of bitcoin by reducing the average block size and the size of the bitcoin mempool. In addition to efficient scaling, an increasing number of financial institutions, institutional investors and large-scale investors have embraced bitcoin, as a safe haven asset and a digital currency.

In consideration of the abovementioned optimism surrounding bitcoin and the migration of traders from China to Japan, it is fair to justify upward momentum for bitcoin moving forward. As traders move from the Chinese market to the Japanese bitcoin exchange market, and more exchanges in Japan receive license to operate within the country, Japan will evolve into a powerhouse within the global bitcoin market.

Already, Japan has overtaken the US to become the world’s largest bitcoin exchange market. Through efficient regulations and venture capital investment, Japanese bitcoin exchanges will continue to grow at a rapid rate. In the short-term, the ban on exchanges imposed by the Chinese government could have affected bitcoin negatively. However, as billionaire investor Tim Draper explained, the exit of the Chinese bitcoin exchange market could prove to be beneficial in the long-term.

“The deadwood of the Bitcoin ecosystem is leaving now. Our faith in the crypto economy will be well rewarded,” said Draper.

It is likely that Draper described the Chinese bitcoin industry as the deadwood of the Bitcoin ecosystem not because of the lack of competent companies and service providers but due to the way competent companies were punished unfairly by local financial regulators. Since November, Chinese exchanges including BTCC, OKCoin and Huobi have closely cooperated with the People’s Bank of China (PBoC) and local authorities to establish better standards for the bitcoin industry and to provide a more stable exchange market for users.

Instead of rewarding the efforts of local companies, the Chinese government punished them with an unforeseen ban, which the companies were not aware of until a week before the notice.

Global markets have already been stabilizing after the two-week long slump caused by the controversial ban on Chinese exchanges. The exit of the Chinese market had only strengthened the Japanese and South Korean markets, which are growing at a rapid rate with practical regulatory frameworks developed by their governments.

Image License: Pixabay

The work that goes into running a successful and profitable cryptocurrency mine is complex and exhausting. As digital currencies have boomed, so have mining operations—big and small. But, by design, mining has also become significantly difficult.

Casual mining, or hobby mining, is slowly becoming a thing of the past. Those who want to stay in the mining game constantly look to improve, innovate, and keep up with the profitability curve.

Controlling all the variables of a mining operation to keep it running smoothly requires a lot of man-hours and plenty of complex balancing: from energy consumption to performance gains to stability. This is not always possible for mere humans to get right, but easyMINE believes it has a smart solution: the Intelligent Mine Management Platform.

Intelligent management

Mining requires careful optimization of dozens of operating parameters. To leave these in the imperfect, analog hands of human managers is not only expensive and time consuming, but also intrinsically inefficient.

For easyMINE, the answer involves essentially removing the need for human supervision—but not by simply automating the process of running a mining operation.

The easyMINE team has put forward a technology that not only controls basic settings and eliminates downtime caused by crashes and freezes, but also has the ability to learn.

Autonomous Cryptocurrency Mining Controller

At the heart of easyMINE is the Autonomous Cryptocurrency Mining Controller (ACMC). The ACMC utilizes a three-level semi-neural architecture inspired by current research in machine psychodynamics and fuzzy knowledge processing. Explains Dr. Andrzej Buller, the team’s machine learning expert:

“What we have in mind reaches far beyond simple automation. Our system will be capable of ‘learning’ from prior ‘experience,’ drawing informed conclusions from accumulated data and applying them to new situations.”

Three levels of efficiency

Developed specifically to maximize efficiency in mining, the ACMS is responsible for: firstly, reducing downtime; secondly, actively improving overall efficiency; and, finally, implementing long-term operating strategies.

Level one of the ACMC handles crash prevention and response. This is intended to minimize unnecessary system downtime by anticipating and averting freezes, reboots, and shutdowns.

More impressively though, easyMINE claims that, at the second level, ACMC actively seeks to improve the overall efficiency of the mining process by modifying various operating parameters and evaluating the resultant patterns of behavior.

Finally, thanks to its self-evaluating and self-modifying capabilities, the ACMC learns from its own mistakes in order to enact a long-term strategy that will be best suited for the user’s mine.

Gearing for Launch

The team are eager to point out that easyMINE is not just a idea, but a working product. At the moment, the system is used to run their own mining operation, where it successfully controls several dozen machines. Invitation-only beta tests are set to commence in a few weeks, with open-access beta to follow shortly thereafter. Full release is planned for 2018.

The easyMINE ICO, ongoing since August 24, has raised approximately 1 million USD for further project development. The crowdsale will continue for another month.

Cryptocurrency ICOs have been targeted by criminals for some time now. Virtually every project suffers from scam attempts, or phishing emails these days. The Edgeless ICO is no different in this regard, even though the crowdsale ended some time ago. An assailant successfully tricks Slack users into making Ethereum-based contributions for remaining tokens. So far, over 200 Ether has been collected through these attempts already.

If there is one thing ICOs have attracted, it is a bunch of scammers and criminals. Due to the unregulated nature of this industry, people can steal money and all but get away with it as well. Multiple ICOs have been affected by such incidents over the past few months. Unfortunately, this trend is growing more popular as new scammers surface every other week. The latest incident involves the Edgeless ICO, which concluded its crowdsale some time ago.

Edgeless ICO Targeted by Slack Scammer

Although it is unclear what this scam entails exactly, the results are there for everyone to see. More specifically, over 200 Ether has been collected through this scam already. Sources claim one 200 ETH transaction comes from one investor directly. A very disturbing development if true, that much is certain. Unfortunately, it is only the latest in a long list of cryptocurrency ICO-related scams taking place this year. Millions in Ether have been lost already and the trend only grows worse.

All of this goes to show there are a lot of security concerns regarding ICOs. It may also be a good time to introduce some form of regulation, to be fair. Protecting investors from financial harm needs to be a priority. There is very little ICO teams can do themselves when all tokens are sold and people still invest. It is doubtful regulators would make much of an impact either, though. Events like these will continue to occur for as long as this industry exists, unfortunately.

For the time being, it is unclear what the Edgeless team will do. Investors need to conduct due diligence when getting involved in cryptocurrency ICOs. That also means checking when crowdsales are active or over, rather than clicking random links on the Internet. Moreover, a lot of projects see their token value decline after the ICO, which creates a better buying opportunity in the end. This is yet another unfortunate incident which shows why ICOs continue to pose major risks.

After months of rigorous testing and subsequent performance updates, KIBO LOTTO has finally reached the final stage of the implementation of its global lottery system.

The Ethereum platform, which harnesses smart contracts to ensure a transparent formation and distribution of prize funds, confirmed this feat in a recent public announcement. The team is said to have combined 16 working smart contracts into a unified lottery mechanism. It also published the results of the individual and combinational working of these smart contracts to demonstrate its successful execution.

The expected outcome is a platform that can allow people to build their own lottery with a readymade infrastructure and unified growing jackpot. Further is a well-distributed net of branches, in which each owner of the platform will be safeguarded by the contract. At the present, KIBO has more than 6,000 motivates branches whose combing efforts amount to raising KIBO’s global presence and, ultimately, higher traffic from all the touched regions.

KIBO plans to introduce a $40,000,000 worth of a promo-round to stimulate users into getting acquainted with their lottery system. This money will be located at open wallets, the balance of which will be available for all to monitor.

“This model showed good results at the preliminary tests, which were carried out on a working prototype of the platform with real users’ involvement and support of owners of KIBO branches,” — updated the KIBO team.

Hurdles And Jumps

The KIBO demonstration arrives at the time when most of the Ethereum platforms are restrained by its hereditary gas price problems. This has particularly restrained KIBO from announcing the launch of its platform, confirmed the team, stating that the gas price problems, in addition to the limited bandwidth of the Ethereum net, is making their project economically unattractive.

Despite the shortcomings, the KIBO team is hopeful for a fix. The Ethereum core developers are already looking into such matters, and have even proposed a ‘Plasma Project’ to scale the network. As far as gas price issue is concerned, KIBO believes it will be “solved together with the beginning of POS era and implementation of the Casper protocol.”

“The first step of this process is planned to be taken in the end of September2017. However, it is not clear if the gas price issue is solved at this stage.”

KIBO also mentioned ‘Sharding’ as one of the proposed solutions for Ethereum scalability, stating that splitting blockchain into many chunks will help allow parallel processing of network transactions. It also added:

“If the Ethereum team manages to solve the gas price problem in the nearest future, it will allow us to launch the first release of KIBO being able to accept up to 10,000 users. As soon as the scalability issue in the Ethereum net is solved, we will be able to launch a promo campaign to erratic a big audience.”

ERC20 Token and Legal Compliance

The KIBO smart contracts’ structure contains several types of ERC20 tokens, which are intended for running in-house economical tasks more smoothly. These tokens are scheduled to be listed on stock exchanges once the Ethereum’s gas issue gets resolved. The KIBO team confirmed that their own tokens will be locked by a smart contract at the time of the launch, and will remain in a frozen state until the KIBO platform becomes bigger.

‘The KIBO tokens are also to be regularized as securities’, updated the team, and stated:

“The company’s legal structure is now being formed with regard to finally announced first explanations by SEC and MAS in Singapore about the identification of the digital tokens. It is a good news for us as we from the very beginning have been searching for a way to register KIBO as an absolutely clear legal business in order to let all our partners receive income legally in the future.”

Learn more about KIBO’s final stage of implementation at their Medium blogpost.

Creating a native cryptocurrency token for a specific business is an unusual concept. Although we have seen native tokens in cryptocurrency, they are hardly used for real-life purchases. In San Diego, that situation is vastly different, at least where the Medicine Man Club is concerned. Their native currency is the Medicine Man Token which grants exclusive rights. It is a great way to provide operational benefits to holders and may very well become a bigger trend.

As the name somewhat suggests, the Medicine Man Club focuses its efforts on marijuana. In fact, the founder claims his company is a “country club for marijuana” altogether. But the creation of a native cryptocurrency token, the company sets an interesting precedent. This particular token is created on the Waves platform and goes by the name of Medicine Man Token. The goal of this new currency is to provide operational benefits to MMT holders.

Medicine Man Club has its own Token

Do keep in mind users will still need to sign NDAs and can’t take pictures. Moreover, this token allows the marijuana club to operate within the confines of the law. Everything can be tracked using the blockchain, ranging from inventory to visitors, et cetera.Further use cases for these tokens will be unveiled in the future. Right now, it appears such benefits may include events, goods, and even concerts. In fact, there have been a few concerts already.

Medicine Man Club founder Robert Mcpherson comments:

“It’s similar to how at Dave and Buster’s you pay for Power Play cards for videos, and can’t pay cash for video games. Dispensaries have tons of problems with cash. We are using our digital currency now. My digital currency has a pair to bitcoin, and one can sell or rent their memberships out. If you have a membership and a friend is in town and you can’t take them, you can rent them the tokens. They just have to show they control the 25 tokens to prove membership. We are creating more uses for the tokens as we go.”

It is evident good things happen in the world of cryptographic tokens. Although ICOs have gotten a bad reputation lately, there are other use cases for this technology. San Diego’s Medicine Man Club shows how it can serve as a “loyalty reward” token of some sort. Members pay $25 every month to receive 25 tokens. Moreover, the tokens can be exchanged through Waves’ decentralized exchange. It is also possible to convert Bitcoin and Potcoin for these tokens at the premise itself. The tokens are also used to pay for food and drinks at the club itself.

Hello and welcome to News BTC’s Market Outlook September 18.


DASH had a very choppy session on Friday, dropping down to the $220 level, but finding enough support to turn around and form a bullish looking move. If we can break above the $270 level, I think that the market will probably go looking towards the $300 level above. I also believe that there is significant support below the $220 level, extending down to the $200 level beneath.


Litecoin fell to the $33 level, but then bounced significantly as most crypto currencies had seen a reversal in their fortunes as the Americans will go. If we can break above the $50 level, I feel that Litecoin will continue the longer-term uptrend, offering buying opportunities on short-term pullbacks.

Thanks for watching, I will be back tomorrow.

Hello and welcome to News BTC’s Market Outlook September 18.


Ethereum fell initially during the session on Friday, but found enough support near the psychologically important $200 level to bounce significantly. If we can clear the $250 level, I think that the market at that point will go looking towards the $270 level above, which has been a magnet for price. Ultimately though, it looks as if the crypto currencies are trying to form a bit of a bottom, and Ethereum won’t be any different.


Ethereum also had a very volatile session against Bitcoin, but at this point I still believe that Bitcoin is going to be the stronger the two currencies. We had an originally trying to reach towards the 0.071 level, and then fell to the 0.067 handle. While we could rally from here, I still believe based upon my analysis that Bitcoin will outperform and therefore it makes more sense to buy the BTC/USD pair than this one.

Thanks for watching, be back tomorrow.

Hello and welcome to News BTC’s Market Outlook September 18.


Bitcoin had a volatile session on Friday, initially rallying, but then fell towards the $3000 level. This major area has offered support, as it is a large, round, psychologically significant number, and is also the 50% Fibonacci retracement level from the longer dated move. That being the case, looks as if the buyers are coming back in and a break above the $3500 level would confirm that we have tried to form the bottom. In the meantime, if 3000 can hold, dips could be bought as well.


Bitcoin also had a very choppy session against the Japanese yen, but it looks as if were trying to form a base over here as well. ¥300,000 looks to be the floor, so I think that short-term dips that will almost certainly occur are looking to be potential buying opportunities as Bitcoin finds its footing again.

Thanks for watching, I’ll be back tomorrow.

Key Highlights

  • Ethereum classic price after finding support near $8.70 against the US Dollar started a recovery.
  • There was a break above a bearish trend line with resistance at $11.00 on the hourly chart of ETC/USD (Data feed via Kraken).
  • The pair now faces another major resistance near $12.30, which is a crucial hurdle for buyers.

Ethereum classic price has recovered well against the US Dollar and Bitcoin. ETC/USD now has to clear $12.30 for further gains in the near term.

Ethereum Classic Price Upside Barrier

After a nasty decline below the $10.00 handle, ETC price managed to find support near $8.70 against the US Dollar. The price started a decent recovery from the $8.67 low and managed to move above the $10.00 handle. There was a break above the 23.6% Fib retracement level of the last decline from the $14.50 high to $8.67 low. The upside move was strong, as there was even a break above the $10.80 resistance.

Later, there was a break above a bearish trend line with resistance at $11.00 on the hourly chart of ETC/USD. The most important move was above the 50% Fib retracement level of the last decline from the $14.50 high to $8.67 low and the 100 hourly simple moving average. These all are positive signs and suggest a decent trend above $11.00. The next important hurdle for buyers is near $12.30.

Ethereum Classic Price Technical Analysis ETC USD

The stated $12.30 resistance represents the 61.8% Fib retracement level of the last drop from the $14.50 high to $8.67 low. A break and close above $12.30 would open the doors for a move towards the $14.00 handle. On the downside, a bullish trend line at $11.50 is an immediate support, followed by the 100 hourly SMA.

Hourly MACD – The MACD is back in the bullish zone.

Hourly RSI – The RSI is heading higher towards the 70 level.

Major Support Level – $11.00

Major Resistance Level – $12.30


Charts courtesy – Trading View, Kraken