Backed by Giants, Swash Wants You to Reclaim the Web
October 24 2021 - 5:53AM
NEWSBTC
The value and impact of data are clear. People are aware of how
expensive data is and the value it brings to the world’s most
valuable companies. Increasing regulations have begun to push
towards a more ethical, transparent system due to increasing
privacy concerns and prominent data scandals, but alternatives are
needed for a future driven by data. Swash is pioneering a new way
of doing data by bringing control and data monetization to the
masses through what can be understood as a Universal Data Income.
With Web 3.0 gaining ground, data is the new currency as anyone who
has control over useful data can make a fortune by putting it to
good, or even bad use. As the world goes increasingly digital,
people are now genuinely concerned about safeguarding their data.
In the current scenario, if one can exert control over their
personal information and data generated by their day-to-day
activities, they will not only decide on who can access it but also
derive monetary benefits out of it. The importance of
user-generated data is not lost to the world, as many controversies
in recent days have made people aware of the extent many online
businesses go to plump up their balance sheets. When one speaks
about such scandals involving gross misuse of user data by
violating the users’ trust, the Cambridge Analytica- Facebook
fiasco comes to mind. But again, what is the alternative to social
platforms and online services like Facebook, Google and other big
tech companies who gather user data by luring users on the pretext
of free-to-use services. After all, there is no such thing as free
lunch. And in this case, users are paying for these services by
giving away valuable personal information including their most
private moments for free to online platforms. Data Monetization for
the Masses Swash is an ecosystem of tools and services that enable
people to unlock the value of data by pooling, securely sharing,
and earning while retaining privacy. The core idea behind Swash is
that of “Data Unions” – organized structures that optimize
individual agency as a collective force by rewarding union members
for the value of their data. Inspired by their vision to make easy
data monetization possible, the Swash team built the first real
Data Union back in 2019 as an experiment. It has since grown into
one of the largest dApps with over 60,000 installs, making it the
largest Data Union in existence. It was recently announced that
Swash raised $7 million in a funding round, led by the popular
cryptocurrency exchange KuCoin, early-stage accelerator Outlier
Ventures and decentralized real-time data platform Streamr. Outlier
Ventures’ portfolio boasts big names, such as Brave, Chainlink,
Ocean Protocol and Fetch.ai, and Swash partnered with them in
summer 2020. Streamr’s technology enables the creation of Data
Unions and Swash utilizes the network as the integration layer and
the Streamr marketplace will be where Swash stream data is sold.
Streamr Founder, Henri Pihkala, is also on the Swash advisory
board. Swash also partnered with Ocean Protocol as a Day 1 Data
Launch Partner of the Ocean Market, which enables users to add
liquidity to pools, and to buy, sell, or publish data. Swash
received from Ocean a funding grant plus marketing and product
development support, and Bruce Pon, Ocean Protocol Founder, is now
an advisor to the team. For more, the Swash team recently published
in a blog an impressive list of all-star backers. The Swash
Ecosystem and Native Token – SWASH As Swash will grow, the
solutions built onto the technology will give rise to a vast
community of collaborators and new innovations. Its First Wave
Solutions can provide an indication of what is possible. These
include Data Union – organizing individuals as a collective force
so people can earn for activities they already do online — like
surfing the web. sIntelligence – a unique business intelligence
platform using aggregated Swash data to show companies their key
metrics via a web-based platform. sApps – making it possible to
communicate directly with users to get to know them better and
provide another value stream, such as by viewing ads or answering
questions or polls. sCompute – making it possible for data
scientists to perform computations on data without needing to
purchase it while the data itself remains private and isn’t sold or
moved. To benefit from Swash today, all one has to do is install a
plugin and continue browsing, just like they would do otherwise.
The plugin will take care of all the heavy lifting by collating all
non-sensitive, yet valuable user data based on the behavior and
usage patterns. The collection is then presented to the user for
review and approval before it can be packaged and monetized along
with other batches of user-generated data authorized by their
owners who are part of the much larger Swash pool, referred to as
“Data Union”. In return for their contributions, the users sharing
their data will earn Swash tokens, which can be stored, spent or
exchanged for other digital assets. The Swash browser plugin is
available for almost all the popular browser applications including
Google Chrome, Mozilla Firefox, Microsoft Edge, Brave, Opera etc.,
and soon will become available on Android and iOS powered devices.
The Swash ecosystem is powered by SWASH, a cross-chain utility
token that works seamlessly on Ethereum, xDAI and Binance Smart
Chain protocol. The token is a critical part of the platform’s
incentive, data transaction, DAO governance and staking systems.
Swash is an opt-in solution that requires explicit user approvals
for various actions. To assure transparency and security, the
platform has undergone a full Data Protection Impact Assessment and
registered with the Information Commissioner’s office in the United
Kingdom. The Swash value chain will be powered by its native
token (SWASH). SWASH will have a variety of use cases within the
ecosystem and will be used as a cross-chain utility and governance
token integrating Ethereum, xDai and Binance Smart Chain. It will
also be fused with Swash’s partners and their native currencies,
allowing for cross-fertilization of value, increased adoption, and
a seamless user experience. As demand for SWASH will increase
alongside network adoption, the generated value may be used to
balance the token supply, likely through periodical token
‘burning’. Once the Swash expansion is live, use cases for the
Swash token will include an incentive system, data transactions,
DAO governance and staking liquidity. Swash is reimagining data
ownership by enabling all actors of the data economy to earn,
access, build and collaborate in a liquid digital ecosystem for
data through an ecosystem of tools and services designed to unlock
the latent value of data by pooling, securely sharing, and
monetizing its value. People share their data to earn while
retaining their privacy, businesses can access high-quality,
zero-party data in a sustainable and compliant way, and developers
set up and build systems within a collaborative development
framework with ease. Swash believes that people should be
appreciated for the data they generate. They are building a new
information economy that works for everyone without compromising on
transparency, privacy, or individual agency. Whitelisting for the
Swash public sale is open until Oct 25 2021 or until 20,000 places
are filled. The IDO will take place on Oct 29 2021 at Gnosis
Auction.
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Apr 2023 to Apr 2024