Google has grown from the age of the Dot Com Bubble and become one of the most valuable companies in the world. Their famous algorithm has led to almost 80% of web searches being done via Google. The problem is that the Google search algorithm is not unbiased. In fact, the company has a reputation for adjusting search results to favor its products and beliefs. As a result, cryptocurrencies and blockchain were built to tackle massive network problems in a transparent, unbiased, and valuable manner.
Presearch is a cryptocurrency that has launched with the sole use case of redefining online search. Rather than relying on centralized servers and a corporate algorithm to offer people access to information, the company implements a decentralized network with open sourced data and ranking factors. In addition, the currency allows advertisers to buy ads via the network and offers content creators better understanding of how to optimize their websites for ad revenue. Overall, Presearch challenges one of the largest tech giants with its blockchain innovations.
As many cryptocurrencies struggle to offer a clear use case for their tokens, Presearch stands out as a product with clear usage for corporations and incentives for users. Anthony di Iorio, the founder of Ethereum and Jaxx Wallet, is on the advisory board for Presearch and told the CoinTelegraph, “The power of blockchain technology lies in its real-world use cases, and Presearch demonstrates this with a compelling alternative to search engines run by global corporations.”
Presearch allows users to control what they see and do not see, rather than Google having power over it. This decentralization and transparency helps make the platform more trustworthy and ensures consumer-product fit.
There system works by in a sense having each user of the network serve as a “web crawler.” Google currently uses web crawler programs on its servers to routinely go through every website and update it in their search algorithm. With Presearch, users will store small pieces of the search engine’s content on their processing power and help process search requests. From there, rather than having a centralized auction system for advertisers, companies can deal with decentralized auctions to ensure more transparency with pricing.
Overall, it’s inarguable that search engines have become huge part of our daily life. Yet one company, who answers to Wall Street, is responsible for most our internet experience. Google is able to manipulate what content and information you see, and optimizes its results based on a variety of bureaucratic factors and revenue metrics. Furthermore, in a doomsday scenario where Google’s servers completely crash, what happens to users’ access to the Internet?
Any world where power and choices are centralized in single parties can lead to detrimental situations. Yet, many will say they do not see the harms of Google’s power and that they are skeptical anyone could challenge the megalith. This line of reasoning has the major flaw of not accounting for transparency. Since Google is so secretive with their algorithm, and since there are not major competitors, most people have no way of knowing what their ideal search results should look like.
As for concerns about barriers of entry, the Presearch team has worked to create an effective go-to market strategy that focuses on early adopters. There are definitely people out there that heavily rely upon search engines for their work and more that are extremely distrusting of Google. Focusing on developing use cases for these users at first helps lower the initial growth requirements for Presearch and poses them for serious disruption.
With growth, the Presearch platform will offer incentives for community developers to expand the product offerings, and source information from users to decide what components of the network should be improved. This means that the Presearch platform will not only be completely transparent with how they go about curating their search engine, but will also optimize their development to ensure maximum value add for users.
At the end of the day, blockchain is all about increasing transparency and decentralizing control of industries. Presearch has put together a valuable and plausible approach to improving everyone’s search experience, while also setting up the mechanisms for its long-term cryptocurrency growth.