With Web Ground.0 gain, data is the new currency, anyone who has control over useful data can be lucky to use it for better or even worse. As the world is increasingly becoming digital, people are now really concerned about securing their data. In the current context, if someone can control their personal information and data generated by their day-to-day activities, they will not only determine if they will be able to access it but will also benefit financially from it.
The importance of user-generated data is not lost on the world, as many debates in recent days have made people aware of how many online businesses are moving forward to increase their balance sheets. Cambridge Analytica-Facebook Fasco comes to mind when someone talks about scandals that violate users’ trust and misuse user information. But again, social platforms like Facebook, Google and other big technology companies and online service alternatives are key, which collects user data by luring users under the pretext of free-to-use services. After all, there is no such thing as a free lunch. And in this case, users are paying for these services for free on online platforms, including their personal moments.
As companies become more hungry for user information, various governments have tried to control them. Some rules, such as European GDPR and more region-specific CCPAs applicable to the state of California, are positive steps in the right direction, but not foolish. Although these rules protect a small percentage of the world’s population, a huge number of people across the geography are vulnerable.
Swash as an answer
The power of decentralization, first introduced by Bitcoin and later advanced by various blockchain projects that use swash to solve a significant part of the problem. Enables them to monetize. Based on what it says is a better-than-free model, Swash does not begin the virtually impossible task of securing all data generated by a user. But instead, it collects and monetizes non-sensitive member-generated data in a transparent and secure manner and shares revenue with them.
To benefit from Swash, everyone needs to install a plugin and continue browsing, as they would otherwise. By combining all non-sensitive, yet valuable user data based on behavior and types of usage, the plugin will take care of all the heavy lifting. The collection is presented to the user for review and approval before it is packaged and monetized, along with other batches of user-generated data approved by their owners who are part of a much larger swash pool, called a “data union”. In return for their contributions, users will share their data with swash tokens, which can be saved, spent or exchanged for other digital assets.
Swash is an opt-in solution that requires explicit user approval for various actions. To ensure transparency and security, the platform has fully assessed the data security impact and is registered with the UK Information Commissioner’s Office.
Supported by multi-chain, multi-browser and multiple big names
The Swash Browser plugin is available for almost all popular browser applications including Google Chrome, Mozilla Firefox, Microsoft Edge, Brave, Opera and will soon be available on Android and iOS powered devices. The Swash ecosystem is powered by SWASH, a cross-chain utility token that works seamlessly across Ethereum, XDAI and Benson smart chain protocols. Token platforms are an important part of incentives, data transactions, DAO governance and stacking systems.
The swash ecosystem holds a promising outlook, due to its increasingly important role as a user-generated data manager and protector. Some big names in the crypto industry support this promise, including the likes of KuCoin, Outlier Ventures and Streamr. Meanwhile, sticking to its promise, Swash is busy creating the first wave of products and services that are going to meet the diverse needs of its fast-growing community.
Some of the first wave solutions that will soon be part of the swash ecosystem include data unions – a pool of swash users who easily create value from their data from their normal online activities through monetization; Intelligence for meaningful interpretation of aggregate user data that can be used to interpret and display key metrics of interest to businesses; SCompute to build their solutions on sApps and Swash Core technology to engage new builders and developers and to crunch all data without revealing actual data, which will be of particular interest to data scientists.
In addition to this first wave of solutions, Swash will launch a variety of other products and services with real-world applications in the near future. Ultimately, the platform seeks to strike a balance between user data privacy and monetization while delivering a passive income stream to Internet users worldwide.
For more information about Swash, visit their official website and try out the browser app for yourself. You can follow the project Twitter, Telegram, Reddit, Medium, and LinkedIn for news and updates, subscribe to the swash mailing list to get priority to whitelist their IDs earlier this month