AMA Recap: Swash meets Beep Crypto
Swash is gearing up for its IDO at the end of October, but the team doesn’t stop on its mission to spread knowledge about data and crypto to audiences worldwide.
This Tuesday, Swash joined an AMA with Beep Crypto, a community around NFTs, DAOs, social tokens, and the creator economy.
The AMA covered Swash’s First Wave Solutions, its upcoming IDO, partnerships and roadmap, and much more.
Follow the full chat here:
First of all, could you tell us briefly about your project and the team behind it? How long have you and the team been working on this project?
Sure! Swash is a movement for reimagining data ownership. It’s an ecosystem of tools and services that enable people, businesses, and developers to unlock the latent value of data by pooling, securely sharing, and monetising its value.
Swash’s live product already has over 75K users! It takes just a few minutes to install and is available on all major browsers. Swash allows for people to capture, pool, and sell their data while receiving their share of the profits it generates, while they surf the web as normal.
I’m proud to be working with one of the most skilled and diverse teams in the blockchain space, all with strong backgrounds in software dev, cybersecurity, and blockchain. The team have been working together for over a decade across various industries including enterprise, research, application security, media & advertising, to name a few.
We’re lucky to count our advisors as part of the team too. We work closely with them and many of them are founders in the space already so they know what works. Others are coming more from a data privacy and even a data buyer perspective, so we’ve got all angles covered.
What’s the mission and the vision of Swash?
Swash’s mission is to create a fair data economy by giving profits back to people. It’s a movement for reimagining data ownership by enabling all actors of the data economy to earn, access, build and collaborate in a liquid digital ecosystem for data.
We’re getting closer to this vision by launching the First Wave Solutions as part of the Swash ecosystem:
When getting passive income with Swash, how do people make sure 100% of the data is not abused like the intermediary did? Does it only data get bought, then owners get incentives?
Yes, exactly. When Swash data is bought, the profits are redistributed back out to the people whose data was purchased. It’s very simple. Swash isn’t here to repeat the same problems we see with Web 2. Instead, we want to rebalance the internet by providing a sustainable, easy-to-use alternative.
Swash prioritises security and has strong ethics around how data is handled. All data is anonymised and end-to-end encrypted before being added to the Data Union and Swash has completed a Data Protection Impact Assessment (DPIA) for the Information Commissioner’s Office in the UK.
Within the Swash extension ecosystem, what’s DATA? What’s the relationship between DATA and SWASH?
Swash has been around since late 2019 and, because we built on Streamr’s technology, we have been rewarding our members with $DATA tokens (Streamr’s native token). Now that we are expanding Swash into a universal data environment, we are introducing our own token, $SWASH, to fuel the ecosystem.
What are Data Union, sIntelligence, sApps and sCompute separately? And, how do they benefit the targets separately?
Great question! Here:
Data Union: Optimising individual agency as a collective force by rewarding union members for the value of their data.
The Data Union works to manage and protect the interests of its members. As a result, those members have greater power and control over how their data is collected, accessed, and used while receiving a portion of the profits generated.
By rewarding people for the value of their data, people can earn for activities they already do online — like surfing the web — enabling individuals to practice their data rights while celebrating their role as essential value providers in a thriving network.
sIntelligence: Bringing unique insights to businesses across all industries through a customisable, comprehensive web-based platform.
Businesses need insights about their industry, market, and rivals to stay informed and get ahead of their competition. However, the current Competitive and Market Intelligence (CMI) landscape is broken — it’s dominated by a few key players who are increasingly susceptible to regulatory pressure, sentiment around data rights, and the need for sustainable data collection and usage.
sIntelligence provides unique, unrivalled business intelligence in an easy-to-use, customisable platform, providing businesses with everything they need to get a competitive advantage in their sector. It will use aggregated Swash data to show companies their key metrics via a web-based platform.
sApps: Expanding the Swash ecosystem with the tools, community, and culture for building the next era of data solutions.
If Web 2 has taught us anything, it’s that the biggest companies in the coming decade will be those that know what to do with data. Developers who want to be a part of the next generation of data solutions can hit the ground running by tapping into the Swash network and building their own applications on Swash technology (sApps).
sApps will have many uses and can come in a variety of forms but are aligned by the ability to redistribute rewards and other compensation back to users of sApps. sApps will also make 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: Uniting innovation with access by making on-site data computation capabilities a reality.
Data Scientists struggle to innovate due to a lack of access to data. If large amounts of diverse, reliable data is available, then Artificial Intelligence models will become more accurate and less biased. In practice, it’s difficult to find and access large amounts of data due to the risks associated with sharing and storing it.
With sCompute, Swash makes it possible for data scientists to perform computations on data without needing to purchase it. The data itself remains private and isn’t sold or moved. Instead, they can deploy their algorithms on Swash data and pay only for the computation and to access the results. The results and products built from this computation can also be resold to generate value for both data scientists and the data contributors whose data was included in the dataset.
Swash just announced its “IDO Grand Giveaway”, could you guys share more about the IDO and token economies? And, also the roadmap after IDO? What are the major milestones up ahead?
Of course. So the IDO will happen on the 29th October 2021. Yesterday, we opened the whitelist to the public and have had around 10,000 applications already! There are only 20,000 places available, so we’re really excited to see that the Swash vision is resonating with so many people. You can read more about the whitelisting process here.
As for the token and tokenomics, you can read all about it here.
The roadmap after the IDO is focused on building out the First Wave Solutions on Swash. You can find out the specifics of the roadmap in our whitepaper but here is a quick overview:
Which are the benefits for being a long term holder of the Swash token? Is there any coin burn/buyback plan or staking program?
Yes, as demand for SWASH will increase alongside network adoption, 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:
As you can see, there’s plenty of promising use cases for $SWASH, and this is just the beginning.
How do you guys plan to explore and expand Asia markets? Is there any way the community can contribute to the projects with incentives
Yes, we have active communities in Asia, especially in China, Korea, and Vietnam. Our communities in these countries support by telling others about Swash, translating our materials, sharing in media publications, and inviting their friends to use Swash. One thing to remember there is that data is unique in the sense that, the more of it there is, the more valuable it becomes. So as Swash grows, people will earn even more back for the data they contribute. Aside from that, we often host giveaways and referral programs for our community.
Swash just millions of fundraising these days and totally got oversubscribed, as a project starting from 2019, is there any advice for entrepreneurs or projects to survive and thrive on matter in the bull and bear market?
Interesting question! I think Swash’s experience during this time is quite unique, as we already have an active working product and community who are very supportive. Swash is also very user-facing so it’s approachable even for non-technical people.
My advice to others in the space is simply to keep building and focus on the mission and community. Web 3 has a lot of people power and a strong community is so important! With that, prioritising collaboration and working with like minded people who are driven by the same vision is so valuable too. Our partners and backers include the likes of KuCoin, Chainlink, Ocean Protocol, Streamr, Boson Protocol, and many others, all of which you can read about here, and all of them are very supportive of Swash.
Swash is an ecosystem of tools and services that enable people, businesses, and developers to unlock the latent value of data by pooling, securely sharing, and monetising its value.
People share their data to earn while retaining their privacy. Businesses access high-quality, zero-party data in a sustainable and compliant way. Developers set up and build systems within a collaborative development framework with ease.
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. The Swash public sale will take place on October 29 2021. Read more here.
Get whitelisted: https://swashapp.io/ido-whitelist