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September 13 2017

ICO Alert Report: BitClave

ICO Alert Report: BitClave

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Update: The ICO BitClave has been successfully completed. The $25,547,000 hard cap has been reached within unprecedented 32 seconds. For full details on their crowdfunding campaign please refer to their blog post.

What is BitClave?

BitClave is a startup focused on creating the next generation of decentralized search powered by the privacy and security of blockchain technology. By removing the middlemen in the digital advertising ecosystem, BitClave gives users control over their data and connects them directly with the businesses they’re looking for.
-The BitClave Team

Crowdsale Information
The first phase of the crowdsale begins on September 15, 2017 at 8 a.m. PST and will end on November 14, 2017 at 11:59 p.m. PST. The price per token (CAT) is $0.07 and there is a hard cap of $25,000,000. If the hard cap is reached, the crowdsale will end immediately.

There is a discount/bonus structure for the first phase of the crowdsale, as follows:

— 1st hour: discount of 15%
 — Day 1: discount of 10%
 — Day 2–7: discount of 7%
 — Day 8–30: discount of 5%
 — Day 31–45: discount of 2%

Details for the second phase of the hard cap has yet to be decided by the team. For the most up to date information, check the BitClave website.

Update: The first phase of the crowdsale begins on November 29, 2017 and will end January 29th. The price per token (CAT) is $0.10 and there is a hard cap of $25,547,000. If the hard cap is reached, the crowdsale will end immediately.

Whitelisted investors will receive tokens with a 30% bonus during the whitelist period (0–6 hours).

Token Distribution Information
There are a fixed 2,000,000,000 total CAT (Consumer Activity Token) created, with 1,000,000,000 available for purchase across the pre-sale and crowdsale. BitClave will use a web application to facilitate the contribution of BTC or ETH and receipt of CAT tokens. You may contribute with ETH or BTC, but must use an ETH or BTC wallet to do so. CAT tokens are ERC-20 tokens.

Tokens are expected to be distributed within one week of the completion of the crowdsale, but the team reserves the right to wait four weeks before doing so. This would only occur if there were complications with the pre-sale or crowdsale, which the team does not foresee.

Update: There is a fixed amount of 2,000,000,000 total CAT (Consumer Activity Token) created, with 550,000,000 available for purchase across the pre-sale and crowdsale. BitClave will use a web application to facilitate the contribution of BTC, ETH, LTC or QTUM and receipt of CAT tokens. CAT tokens are ERC-20 tokens.

The tokens purchased during crowdfunding will be automatically sent to the wallets at your personal dashboard by the smart contract. Meanwhile, tokens purchased at the early pre-sales will be sent to the wallets as soon as the crowdsale starts.

Allocation
50% of total tokens available for purchase across the pre-sale and crowdsale.
10% of tokens going towards community grants.
10% of tokens reserved for the team.
30% of tokens reserved as a long term budget.

Use of Proceeds
38% will go towards development (rollout of the solution and adjustments).
7% will go towards administrative needs.
37% will go towards expanding adoption. This includes the growth and maintenance of the world-wide community.
5% will go to advisers for growth-hacking, public relations, partnerships, affiliate programs and more.
5% will go towards legal expenses.
8% will be reserved for unforeseen costs.

Team
Alex Bessonov, CEO
Linkedin
Alex is a senior executive with over 20 years of experience in the security, privacy, and blockchain industry. He is the former CSO of LG Electronics and has acted as a security investment advisor.

Patrick Tague, CTO
Linkedin
Patrick is an associate research professor and associate director at Carnegie Mellon University. He is an expert in mobile, embedded, and wireless security and has his PhD in electrical engineering from the University of Washington.

Emmanuel Owusu, Chief Architect
Linkedin
Emmanuel has a PhD from Carnegie Mellon University and has experience in the fields of security, blockchain, IoT, public policy, and privacy. He has worked in research for both IBM and Bosch.

Vasily Trofimchuk, Project Management
Linkedin
Vasily has a master’s degree in software engineering and business administration. He is a serial entrepreneur and an expert in game theory, blockchain, and management. He founded a variety of companies before BitClave, including Astra, Inc., a gaming production company.

Yan Michalevsky, Security Architect
Linkedin
Yan is getting his PhD from Stanford. He is an entrepreneur skilled in computer systems, software security, and privacy. He founded and developed BoxStream Cloud Music, a cloud storage audio player application.

Anthony Mandelli, Content Marketing Lead
Linkedin
Anthony is a communications architect specializing in content marketing and social media analytics. He has experience in eCommerce, blockchain, and cryptoeconomics, and previously worked as a researcher and journalist for CryptoCoinsNews. He has also held the role of customer success manager for CueConnect, a computer software company focused on eCommerce.

Anna Naumove, Product Manager
Linkedin
Anna has four years of experience in mobile development, social networks, and ride-sharing. She has 10 years of experience in IT and launched the first Russian Social Network (OK.ru) in 2006. Before BitClave, she was a product manager for the ride-sharing company Fasten Inc.

Julia Ilyina, PR Manager
Julia is a PR professional with over 10 years of experience in external communications in IT and the cybersecurity industry.

Jesse Huang, Community Manager
Jesse is a marketing specialist with a passion for social media and content marketing. His experience includes account management, web design, and social media marketing.

Anton Bukov, Blockchain Developer
Linkedin
Anton has his master’s degree in computer science from the Institute of Cryptography, Telecommunications, and Computer Science. He is skilled in data security and processing and is a blockchain enthusiast and developer. He has a majority of his development experience in iOS.

Ivan Yurin, Senior Developer
Linkedin
Ivan is the lead backend developer and has experience in scalable solutions. He has held senior software engineer roles at various companies since 2010.

Eugene Kaganovich, Data Architect
Eugene is a full-stack developer with deep knowledge of Java. He is skilled in protecting enterprise data in the cloud.

Mark Shwartzman, Data Scientist
Linkedin
Mark has a master of science degree from the University of Tel Aviv. He is skilled in video compression and data science and is an avid Bitcoin enthusiast and developer. He has been working in software engineering since the year 2000.

Andrey Shashlov, Core Developer
Linkedin
Andrey is a full-stack developer with a focus on Android and iOS. He has entrepreneurial experience and is a blockchain enthusiast. Before BitClave, he worked as a software engineer and lead programmer.

Social Media
Email: info@bitclave.com
Twitter: https://twitter.com/bitclave
Facebook: http://fb.me/bitclave
LinkedIn:https://www.linkedin.com/company/bitclave
Telegram: https://t.me/BitClaveCommunity
Youtube: https://www.youtube.com/channel/UCtibs4mNHqbPn-NGnFtK6yg
Slack: http://slack-bitclave-com.herokuapp.com/
Bitcointalk: https://bitcointalk.org/index.php?topic=2005370

Q&A

ICO Alert: How is the CAT token used within the platform?

The Bitclave Team: The Consumer Activity Token (CAT) is a utility token for use by customers, businesses, and third-party entities who contribute activity data and services to the ecosystem. CATs are awarded for all data contributed to the ledger and is the unit of exchange for smart contract processing.

ICO Alert: How does the BitClave Active Search Ecosystem (BASE) function?

BitClave: The BitClave Active Search Ecosystem (BASE) is a decentralized search engine where users can perform a search and then opt-in to relevant advertisements, earning Consumer Activity Tokens for each ad engaged with. Through this platform, businesses can serve personalized, relevant offers directly to users who are already expressing interest in their products and services, significantly increasing their return on advertising spending while consumers are no longer plagued by irrelevant, obtrusive advertisements.

ICO Alert: How do users participate and how does the platform ensure a user’s data is safe?

BitClave: BitClave is building a decentralized search solution based on blockchain technology and storing anonymized information about customers, businesses, and offered products/services in a combination of on-chain storage and off-chain open, decentralized storage available to all.

ICO Alert: BitClave is planning on attracting a large number of users and businesses to achieve a network effect for the platform. How does BitClave plan on achieving this network effect?

BitClave: We have a bunch of top-level partners and we plan to start building our network with them. We believe that our high quality and the unique product would attract new partners after launching through viral effect.

ICO Alert: How far along is the development of the BitClave platform and what development milestone is next?

BitClave: The next milestone is a functioning Activity Ledger that allows user registration and keeps user activity, utilizing an anonymizing algorithm to preserve user-privacy.

ICO Alert: BitClave had a presale and ran an ICO Alert Report in July. Was the presale effective? How many contributors participated in the presale?

BitClave: Yes, it was incredibly successful presale of CAT which earned over $1.8 million USD, demonstrating high engagement from the user base. Initially offered at a discounted rate, the BitClave presale reached its soft cap in less than 24 hours with extremely high transaction volumes from the moment the presale opened at 4:00 a.m. PST. Since the conclusion of the presale, interest in purchasing CAT has continued to grow along with the amount of users opening BitClave wallets in anticipation of the full sale.

ICO Alert: What third parties do you foresee building on the BitClave platform? Have third parties committed or does the team have partnerships in the works?

BitClave: We’re going to attract third parties like retailers, real estate, and job search industry. Now we’re working on beta version development with several partners.

ICO Alert: As a non-BitClave question, we like to ask for fun/unique predictions for the space. Where does the BitClave team see the ICO and cryptocurrency industry in the next five years?

BitClave: Maturity of technology, scalability, scam reduction due to regulation, regulation is good, etc. Not fun, but true! :)

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View the Bitclave Website here.

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References
(1) Bitclave Website, Bitclave, (2017)
https://www.bitclave.com/

(2) Bitclave Whitepaper, Bitclave, (2017)
https://docsend.com/view/y788g5h

Topics: Blockchain, ICO, Advertising, Cryptocurrency, Finance