In today’s data-driven world, every single byte of user data accounts pretty significantly. Not only because data can provide a much more personalized experience for users but become an additional source of remuneration. While many big tech companies in the world rely on data for insights and advertising, the amount of data they process is tremendously high.
In fact, to extract an equitable amount of information, companies have to crunch a much larger volume of data. This not only makes it a tedious task but drops the efficiency by quite a margin. In fact, on average, a data scientist has to spend about half of their time cleaning bad-quality datasets. The problem doesn’t end here, though. In fact, the quality of data extracted from such a big volume is often of low quality that doesn’t suffice for any proven insights.
Looking at another aspect, since data is such an important asset today, so is its privacy. In fact, many countries in the world are increasingly getting aware of data collection policies. Many countries are in the run of drafting regulations regarding the data collection policies of most of these companies. Eventually, companies will have to create a framework where they can seamlessly process users’ data without any friction with them. However, traditional systems simply can’t keep up with the number of requirements the framework may need. Moreover, with the unfortunate events of data-stealing worldwide, general consensus regarding this is not so positive.
To tackle such a daunting subject, we need to take advantage of new technologies like Web 3 and decentralized architecture. They can provide a trustful experience without the price of centralization. And this is where Swash comes in.
Swash is a browser extension that simply lets you earn from the data while you surf the internet. It basically enables the next generation of data solutions through new incentivization streams & a collaborative development framework. Through Swash, individuals, developers, and businesses can experience the new realities of data ownership and value creation.
This data solution platform offers the following benefits for individuals, businesses, and developers:
|For individuals:||For businesses:||For developers:|
|Regain ownership and receive passive income as they surf the web.||Access high-quality, zero-party data at scale.||Accelerate innovation due to improved access to diverse data.|
|Collectively invest the value of data into social development.||Save time and money by eliminating intermediaries and reducing ad fraud and bots.||Be part of a new generation of data solutions.|
|The exchange data value for alternative ecosystem benefits.||Improve the reputation and sustainability of business practices.||User acquisition through incentivization mechanics and communication.|
The Swash ecosystem is built on four key principles:
- Incentivization: Providing a way for users to get paid for the value of their data. Moreover, to also put the data to good use through collective investment in social organisations.
- Access: Improving access to high-quality, zero-party data for businesses and data scientists.
- Build: Encouraging developers and entrepreneurs to join a new generation of data solutions.
- Collaborate: Working alongside ecosystem partners to allow for interoperability and mass adoption at scale towards a wider vision for the future of data.
Team & Investors
The company’s co-founder and CEO Reza Naeni heads the Swash platform. She has over 5 years of experience in Tech and Transformation companies.
The company’s CTO is Ebrahim Khalilzadekh who has software security work experience of over 10 years.
The company has a total of seven full-time team members. The platform’s advisors include the founder of Streamr, Henri Pihkala, Ocean Protocol, and Outlier Ventures.
On the subject of investors, Outlier Ventures, Streamr, Ocean Protocol, Chainlink, Amasa, and Boson Protocol have invested in the Swash platform.
Technical Architecture of Swash
Swash platform is built on the following principles of design:
- Privacy – The platform aims to incorporate privacy into the core workings of the ecosystem. This ensures that the users’ data is protected automatically.
- Fairness – All members need to have fair revenue to perform in a sustainable manner. The platform leverages game theory that approaches along with fairness measures and metrics. This ensures all participants receive a fair share of revenue.
- Transparency – Swash provides all the information they collect from their participants, details regarding purchases of data and compensation mechanism to users. All of this information is stored on blockchain allowing to trace and investigate events.
- Security – In order to develop a secure and reliable system, Swash has used a Defence in Depth approach. Defence in Depth is a security approach where the mechanisms and controls are thoughtfully layered throughout a computer network. This protects the confidentiality, integrity, and availability of the network and the data within.
- Efficiency – Swash uses the Ethereum blockchain and a side chain to improve user experience while ensuring the Swash ecosystem is secure and transparent.
- Usability – The platform prioritises non-crypto incentive mechanisms appealing to a wider demographic of users.
Swash Smart Contracts
In order to design a trustless and transparent ecosystem, the platform uses smart contracts. These smart contracts will be deployed on the Ethereum mainnet. They’ll provide data governance, access control, token swapping, and revenue sharing.
Alongside Ethereum, Users can also take advantage of the smart contracts on sidechains like xDai, BSC, or Polygon. Moreover, they can reduce transaction fees and speed up their transactions with this implementation.
Swash uses events recorded in their main chain, implementing a fair and transparent revenue model. Moreover, there are six types of income generated from the sale of datasets or the provision of services:
- Direct Sale Income – Selling of datasets on Swash-owned Marketplace.
- Indirect Sale Income – Selling of datasets on third-party marketplaces.
- Subscription-based Income – Subscription to a product or services on monthly or annual basis.
- License-based Income – Using products, services or IPs of Swash under terms and conditions of an agreement.
- Campaign-based Income – Revenue generated through a campaign, remunerating users for completing a task.
Swash Utility Token
Swash token is the native token of the Swash ecosystem. Their ticker symbol is SWASH. SWASH has multiple uses within the Swash ecosystem since it is a cross-chain utility and governance token. Moreover, it is a unit of exchange for buying/selling Swash data or services.
As of now, there is no burning of any SWASH tokens. However, as SWASH will increase alongside ecosystem adoption, the generated value will get ‘burned’ periodically with time. This is to ensure a balance of the token supply.
Users can use SWASH in the following use-cases:
- SWASH tokens are rewarded for participation in the ecosystem.
- Users can buy/sell data products on marketplaces through SWASH tokens.
- They can also use SWASH tokens to pay access communication channels.
- Data scientists receive SWASH tokens for their algorithms.
- Members can individually and collectively donate the value of their data in social development causes. Moreover, they can also use it for value exchange inside and outside the Swash ecosystem.
SWASH Token Metrics
Some important details about the SWASH token are mentioned below:
- Total Token Supply: 1,000,000,000.
- Token initial circulating supply: 5.4% of Total Supply.
- Initial Public Sale Price: $0.09
- Allocation of Tokens in:
- Pre-seed Round: 9%
- Seed Round: 3%
- Strategic Round: 5%
- Pre-Sale Round: 5%
- Public Sale: 5%
- Ecosystem and DAO growth: 14%
- Community and Platform Rewards: 14%
- Foundation: 15%
- Founders: 15%
- Liquidity Provision: 5%
- Team and Advisors: 10%
While Swash is a rapidly developing platform, its team is continuously improving software and services at all levels. Moreover, the team has definitively established some development milestones on implementing some of their upcoming features and expansions:
- Q3 2020 – Q1 2021
- Development and expansion of foundational building blocks.
- Availability of Swash browser extension on all major broswers.
- Data capture through the browser extension.
- Q3 2021 – Q4 2021
- Connection of data buyers through marketplace integrations.
- Integration of direct investment in social goods organisations into the extension.
- Development of Data at Rest and Integrator layers, managing collected data before the query building.
- Q4 2021 – Q3 2022
- Reveal of core services and functionality.
- Enchancement of transparency and revenue sharing capabilities.
- Migration of Smart contracts over the next generation to cater to new ecosystem demands.
- Q2 2022 – Q4 2022
- Development and launch of bot detector and the first version of Captcha.
- Release the first sApps – sPoll and sRecommender.
- Presenting sServices through sPortal to data scientists to assist them in running algorithms and selling their datasets and models on marketplaces.
While data incentivization is not new and is regularly in the news, many platforms have targeted it differently. However, none of the platforms has the good backing as the Swash platform has. Not only that, but the project has its eye on long-term benefits, but it has clearly positioned its product strategy like it. Moreover, Swash has a strong team, great partners’ backing, and organic growth of users that will usher in the longer term.
Moreover, Swash is a well-polished ecosystem with the right amount of utility and incentivization mechanisms to keep everyone elated in an unobtrusive manner.