Will The Blockchain Start-up With 1M Users Break Your Google Habit- Part 4

The Global Community Vs The Google Search Engine 

Another focus is trying to make crypto more accessible a there is a built-in wallet storing PRE tokens meaning the users thereby don’t have their wallet setting up to start earning crypto. As Pape adds the geographies go as far as it’s a global audience as there is a pretty heavy contingent of users in Central and South America including Mexico, Brazil, Venezuela as here is a lot of crypto adoption happening down there due to the combination as it is where they are super tech-savvy as they’ve got great infrastructure still in a developing nation and hence any of these types of crypto opportunities are very significant to them. 

Down the line, Pape says he plans to switch from Google to this engine as the default whereas they can't justify the switch yet. He couches that the Presearch is an engine very similar to DuckDcukGo with a couple of unique features thereby including an infinite scroll view rather than having search results paginated. He further adds that the biggest thing is really that they have these open source community packages whereby anybody can submit to them a package that would thereby get triggered by the use of certain keywords and therefore basically show up with the results at the top of the search. Whereas it is observed that finally, the goal with Presearch engine is to offer fully community-powered search as users not only create content packages as well as build out wider utility served for particular keywords/ searches as also curate these packages. 

How Are Users Finding Presearch? 

As Pape notes further that the users are still able to customize their search results like those by browsing the full suite of approved packages as also selecting those that best meet their needs and the, therefore, the whole concept is that the search engine comes more about user choice giving them the ability to actively personalize what is their search results as also choose which contributors within the ecosystem they want to support.  

In the Google dominated search space the level of crowdsourced effort required to generate differentiating value has proved a stumbling block for similarly minded start-ups wanting to compete for head to head with Mountain View as it is clear that Presearch needs a much larger user base if its to build and sustain enough community contributions making its engine a compellingly useful product vs the usual search giant suspects. Despite the community-focused mission, it is worth noting that Presearch’s current corporate structure is a Canadian corporation as it has plans to transition to a foundation in future with Pape envisaging distributing 90% of the revenue flowing through the ecosystem to the various constituents and participants retaining around 10% to fund operating the platform entity itself. 

Familiar to many blockchain projects is the structure as perhaps it is a bit unusual by being initially incorporated as a business. Pape comments that there is a lot of crypto projects doing this foundation route as it is more about taxes and it's more about jurisdictional arbitrage trying to minimize the potential regulatory risk. For them, it is because of the way that they launched it, and the legal adviser who is the founding lawyer for Ethereum gave some really good guidance right out of the gate and they treated it as a business. 

The Final Conclusion 

As Pape finally put sit, they think they have got a really strong legal position which is why they didn’t need to do the offshore stuff at first as it is figured out that they would get the usage as well as build up the core token economics. Therefore, it is here that they switch to an actual truly community governed foundation which comes to be rather than a foundation in name governed by all the insiders really what most of the crypto projects have currently done. It is here that Pape as the sole shareholder of Presearch is transitioning the sole ownership into the future foundation structure likely a year out by his reckoning. He adds that one of the key concepts is providing open-source, transparent resource treated lie more of a utility as the community provides input on and manage as they are looking at all the different government options. Additionally, there is a lot of technology going around within the blockchain space and some best practices are starting to emerge as they have figured that they would give it a little while as the technology and practices mature and then would be able to do that transition.