Swash Will Bring You Back Control of Your Data so You Can Earn from It. These days, knowing who has access to your data is a major worry. People are now fully aware of how the world’s largest IT monopolies profit off customers’ personal data while providing them with no value in return. Regulators, businesses, and consumers have all begun to question how this occurs, minimising invasions of privacy whenever feasible. The ability to transmit value to consumers, on the other hand, is still elusive. By placing data monetization in the hands of consumers, Swash shifts the paradigm.
Creating a New Age of User Data Monetization
Swash is a collection of tools and services that allow individuals to maximise the value of their data by pooling, securely sharing, and profiting while maintaining their privacy. Swash is based on the concept of “Data Unions”. Which are structured organisations that compensate union members for the worth of their data in order to maximise individual agency as a collective force. The Swash team developed the first actual Data Union in 2019 as an experiment. Inspired by their aim of making straightforward data monetization feasible. It has now evolved to become one of the most popular apps. With over 60,000 users, making it the world’s largest Data Union.
Swash just announced the successful completion of a $4 million financing round. KuCoin, an established cryptocurrency exchange, Outlier Ventures, and Streamr, a decentralised real-time data platform, are leading the charge. Swash joined Outlier Ventures in summer 2020, and their portfolio includes huge names like Brave, Chainlink, Ocean Protocol, and Fetch.ai. Streamr’s technology allows for the construction of Data Unions, and Swash uses the network as an integration layer, with Swash stream data sold on the Streamr marketplace. Henri Pihkala, the founder of Streamr, is also a member of the Swash advisory board.
Swash is also a Day 1 Data Launch Partner of the Ocean Market, working with Ocean Protocol. Users may purchase, sell, and publish data, as well as provide liquidity to their pools. Swash got a financing grant from Ocean, as well as marketing and product development assistance, and Bruce Pon, the founder of the Ocean Protocol, has joined the team as an adviser. For additional information, the Swash team published an amazing list of all-star backers in a blog post recently.
The SWASH Token
Swash will expand as a result of the solutions built on top of it, resulting in a large community of collaborators and new ideas. Its First Wave Solutions might give you an idea of what you might be able to achieve. Among them are: Individuals are organised as a collective power in the Data Union, allowing people to earn money for activities they currently undertake online, such as surfing the web. sIntelligence is a web-based business intelligence tool that uses aggregated Swash data to display organisations their important KPIs. sApps – allowing users to connect directly with one other in order to get to know them better and give additional value, such as by seeing advertising or answering questions or surveys. sCompute is a programming language that allows you to create computer programs.
The native coin will drive the Swash value chain (SWASH). SWASH will be utilizable as a cross-chain utility and governance token within the ecosystem. Combining Ethereum, xDai, and Binance Smart Chain. It will also be merged with Swash’s partners’ native currencies. Allowing for value cross-fertilization, improved acceptance, and a consistent user experience. As SWASH demand rises in tandem with network adoption, created value may be utilizable to help balance the token supply. Most likely by token “burning” on a regular basis. The Swash coin will be usable for an incentive system, data transactions, DAO governance, and staking liquidity once the Swash expansion is operational.
This is your opportunity to shape the internet’s future by assisting in the creation of a world in which consumers, not giant tech monopolies, monetise their data. You don’t have to envision a system where users reclaim their data and earn passive money while surfing the web. Or where they collectively invest value in social development. Swash makes it a reality right now!