Bitcoin-Based Google Search Rival Shares Profits With Users
September 8, 2015
Search Trade (1 article)
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Bitcoin-Based Google Search Rival Shares Profits With Users

Bitcoin-Based Google Search Rival Shares Profits With Users

A new startup is using bitcoin micropayments on internet search platforms that reward ALL users – and wants to revolutionize the way we use them.The company, SearchTrade, says bitcoin technology allows everyone to share in profits generated from ads, keywords and individual searches. At the moment, all these profits flow to the search giants like Google and Bing.SearchTrade co-founder and CEO Vishal Gupta said new technology like bitcoin gives us a chance to disrupt online behemoths, turning them into something more collaborative and equitable.

“Search is the single most important activity on the internet. Everyone does it, every day. Search drives far more traffic than any social network or viral news site, and it makes a ton of money.”

“We’re asking people to imagine how much better the internet would be if everyone could share the benefits of that activity.”

 

 

Search’s Four Stakeholders

 The principle behind SearchTrade is simple: give a share of financial rewards to all stakeholders involved in the search process, not just the company providing the platform. Bitcoin micropayments make this possible where it wasn’t before. SearchTrade has identified four parties with a stake in the search process: (1) the person doing the search, (2) the ‘owner’ of a keyword being searched, (3) developers who build apps that use the search platform, and (4) advertisers who pay to place marked ads among the search results. SearchTrade’s system takes revenues paid by the advertisers, and makes payouts to the other three, proportionate to their role in the process.The search engine itself is based on popular existing platforms, and SearchTrade is building its own additions. Gupta said he╒d love to provide users with as much choice as possible, with developers building more localized options.

 

The Three Ways to Earn Bitcoin

 Stakeholders can earn payments from SearchTrade in three ways:

(1) By searching. Simply performing a search will earn the user a small fraction of a bitcoin, which goes into the user’s wallet.

(2) By ‘owning’ keywords. Users can ‘buy’ keywords to search terms they predict will be popular, and earn every time someone searches that term. Keyword prices are set by the open market and SearchTrade provides an exchange platform for users to buy and sell words.

(3) By developing web and mobile apps that use SearchTrade’s platform. SearchTrade is looking for developers to build hundreds of different apps that all use its search facilities. About a quarter of revenues are shared between these developers. They earn bitcoins when a user performs a search using their app, even if the users are not signed-up SearchTrade users themselves.

In order to deter ‘click farms’ (massive operations using cheap labour to game advertising systems by using them 24/7) SearchTrade limits the number of searches per user per day to 40, and limits access to individual IP addresses.

 

About the Company & Founders

 Singapore-based SearchTrade was founded by Mumbai natives Vishal Gupta and Rashmit Gupta. It currently has a team of 23, including 12 active mobile, web and database developers.Vishal Gupta is a Founding Member of the Bitcoin Alliance of India, a non-profit that organizes bitcoin meetups in multiple cities and engages with law bodies and government departments on determining cryptocurrency policies. He is also the founder and CEO of Moving Trumpet Communications, which specializes in OOH (‘out-of-house’, or outdoor) advertising in the Indian corporate market.

 

For further information, or to arrange an interview, please contact Vishal Gupta on [email protected]

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