AMA Recap: Swash meets CryptoDaku

This Thursday, Swash joined an AMA with Crypto Daku, an engaged crypto community wanting to learn more about solutions like Swash.

AMA Recap: Swash meets CryptoDaku

This Thursday, Swash joined an AMA with Crypto Daku, an engaged crypto community wanting to learn more about solutions like Swash.

The AMA covered the problems that Swash is tackling, its First Wave Solutions, the success of the Whitelisting, tokenomics, the upcoming IDO on October 29, the roadmap, and much more.

Follow the entire conversation here:

Can you tell us all more about the project, the idea, how it started? And, specifically, why is it needed or how is it disrupting?

We can break into the following:

  • The problem you are trying to solve.
  • Why do you think that’s the problem?
  • What’s the solution you are proposing?
  • How you solve it.

Chloë:
Of course.

So, the problem we’re solving is that people — everyday internet users like you and me — don’t have ownership over their data. They are unable to control what happens to it; how it is collected, used, and sold, and do not receive any of the profits it generates.

Businesses, like advertisers and brands, market intelligence and analytics companies, AI/ML startups, hedge funds, and agency networks, currently pay for expensive, low-quality data that is collected without user consent or knowledge.

Finally developers, including data scientists, struggle to access large amounts of high-quality data and waste a lot of time cleaning bad quality datasets, stifling innovation.

It’s a problem because we’re all affected by this data economy, whether we like it or not, and it has a direct impact on the way society operates! The issue is, only a small number of people are benefiting from it when it’s a value that all of us have and share. When trillions of dollars are being generated from what we create, we believe normal people should be compensated for it and be able to practice their data rights.

The solution is simple:

Redistribute that value back to the people who create it.

Instead of a system that bleeds agency from individuals, Swash is replacing it with one where people can reclaim their data dignity, businesses can thrive, and developers can innovate.

Expanding from the successes and learnings of the Swash browser application (which currently has over 75,000 users!) 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.

And finally, how we solve it is very practical — the live Swash app takes just a few minutes to install (available on all major browsers) and people can start earning from their data immediately.

Can you tell us about the market pie you are trying to conquer, your competitors, and your SWOT analysis for your offerings?

Chloë:
I’ll keep it quite high level because the data industry is just enormous, but there’s not really anything super close to what Swash is doing or how it works. We’re often compared to Brave (which we’re compatible with) but that’s slightly different as it’s more about the ad attention rather than the data itself. Swash is all about the data.

The more traditional players are working at a huge scale but their practices aren’t sustainable. They rely a lot on third party cookies which are set to be restricted and struggle to meet regulatory requirements (like GDPR and CCPA) because of their collection methods. Swash is fully opt-in and zero-party so we don’t have those kinds of issues, plus the data is much higher quality as a result.

Regarding numbers, the EU Commission pegs the data industry at around $3 trillion, and that’s growing massively year-on-year. Swash is starting by targeting a market of around $200m.

Who are all your advisors and backers? Can you tell me a bit more about your team members?

Chloë:
Of course!

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.

Our advisors include Bruce Pon (Ocean Protocol), Henri Pihkala (Streamr), Ioana Surpateanu (EU, DIA), and Matt Law (Boson, Fetch.ai). Check out our website for more details.

Backers include: KuCoin, Outlier Ventures, Chainlink, Streamr, Ocean Protocol, Boson Protocol, to name a few. We’ll be releasing more details on those very soon actually.

Can you tell the community about tokenomics, token utility and TGE

Chloë:
Sure, a bit about the token uses:

  • Incentivise: As an incentive system, ecosystem actors will be rewarded with Swash tokens in return for their participation.
  • Transact: All data transactions across all marketplaces, platforms, and applications will be distributed in SWASH. This includes value generated within the business intelligence and analytics platform (sIntelligence), the data computation environment (sCompute), and solutions developed utilising Swash technology (sApps).
  • Govern: Swash token holders can vote for projects they wish to see receive funding from the Swash DAO fund, decide on new roadmap developments or modifications, and to take part in token-related decisions.
  • Multiply: People can individually and collectively contribute the value of their data to social development causes and use it for value exchange both within and outside the Swash universe, such as redeeming earnings for products or staking liquidity.

TGE is 29th October

The public sale will make available 5% of the total supply (50M Swash tokens) at an initial price of $0.09/token. Early investors account for 22% of the token supply, while founders, team members, and advisors hold 25% of the total issuance. The Swash foundation will hold 15% of the total supply, while Swash will allocate 5% to liquidity provisions to ensure a sustainable approach to the runaway needs.

Read this blog for details.

What will be mcap at TGE?

Chloë:
It will be a batch auction through Gnosis, so can’t say specifically.

What are the next 100 days’ plans?

  • Tech wise.
  • Business development wise.
  • User acquisition wise.

Chloë:
The focus for the next part of the roadmap is to start building out the sIntelligence platform, which you can learn more about here.

Here’s a quick overview of our roadmap too, but more details are in the whitepaper:

  • Rise (Q3 2020 — Q1 2021) — Swash application growth
  • Surf (Q3 2021- Q4 2021) — sIntelligence platform development
  • Flow (Q4 2021 — Q3 2022) — sCompute and sChannel launch
  • Surge (Q2 2022 — Q4 2022) — First sApp releases
  • Onshore (Q1 2023 — Q3 2023) — sApp development and upgrades
  • Swash (Q4 2023 — Q2 2024) — Swash smart contracts

We’re also going to keep growing our community (we have a headstart as we have over 75000 people using Swash already) and making progress with data buyers and new partnerships. Lots of exciting things are coming up.

Open questions from the community

How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates

Chloë:
Easiest way is to join the Swash Telegram chat, follow on Twitter, Medium, Reddit, and subscribe to our newsletter.

Many projects have problems with UI/UX and this turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?

Chloë:
Great question! Having a simple user interface is a big priority for us as it’s the only way to get people involved. Not everyone has crypto but everyone has data, so we want to get beyond blockchain and bring new audiences in.

Currently, when people install Swash, they don’t really have to do anything extra, they just let it work for them in the background. Also, getting paid for something you already do is a big incentive for many people, and our mission to rebalance the data economy appears to be resonating well with all kinds of audiences!

Where can I currently buy the token?

Chloë:
$SWASH token isn’t available yet, but our public sale is happening on 29th October. You can find out more and get involved here.

Do you have any CoinBurn/BuyBack systems or any $token burn plans to increase the value of token & attract Investors to invest?

Chloë:
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.”

Can you share some details about recent major achievements done by your project? Also, what are the future roadmap & targets of your project?

Chloë:

A few recent ones:

  • One of the biggest dapps out there. We’ll hit 100,000 Swash members very soon!
  • Just closed an oversubscribed private round of $7MM!
  • Better-than-free model where Swash members get rewarded for something they already do (using the internet).

I could go on 😁🚀.


About 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. Stay tuned for the latest updates on the IDO.

Register your interest in the pre-sale: https://swash.typeform.com/investors

Join the Swash community: t.me/swashapp_group

Be the first to know about Swash’s updates: swashapp.io/newsletter

Let’s connect: Twitter | Telegram | Reddit | LinkedIn | Website | Newsletter


Originally published at https://swashapp.io on October 17, 2021.