Businesses that rely on search engines for their revenues have the most to gain from embracing blockchain technology, according to the founders of a blockchain startup.
Businesses that depend on search engine for their revenue have the least to gain.
In their new startup, TheSearch, founders Josh and Rebecca Sauer founded a search engine based on the blockchain that enables companies to pay for content.
“If you’ve ever been to a restaurant, you might think of your favorite place by going into Yelp, Yelp’s business-to-consumer (B2C) business.
But the company that’s actually serving that restaurant is not necessarily an independent business, but an entity that’s owned by a big company,” said Josh Sauer, the founder of TheSearch.
TheSearch was created to allow search engines to accept payments on behalf of other businesses.
The company is currently raising $1.3 million in seed funding.
“TheSearch has a number of other benefits that we’ve identified that would enable it to become the next great B2B marketplace for content creators,” Josh Siegel told CNBC in a statement.
The search engine also has the ability to serve content that is not on the search engine.
“It could be a restaurant that is serving up a pizza or something that’s not on our search engine, and we can take that content and turn it into a payment for the restaurant,” Josh said.
The company, which has raised $1 million, will also offer a payment-as-you-go option.
“You can take content that you would normally pay for on the internet and monetize it through a payment gateway, but you can also monetize that through the platform,” Josh explained.
“We’re talking about a new payment service.”
Payments for content are an integral part of many of the world’s online commerce platforms, and it’s likely that many businesses will have a lot of demand for this type of payment service.
“What it comes down to is, when people see a video on YouTube, it’s going to be there for them to watch for a long time, and if you’re paying them for that time, that’s something that is really valuable to them,” Josh told CNBC.