Swipe– A revolutionary new decentralised mobile engagement data platform

in #cryptocurrency • 6 years ago

Introduction

Hi guys/gals, time for another exciting review. Today it is “Swipe Network” (Swipe), another exciting project realising the power of mobile technology and blockchain. They aim to tackle the problem most app developers experience today, “monetising their apps”. Ultimately, they will provide the means for developers to understand their audience members better and provide marketing tools via their “software development kits”.

This is yet another example of a project leading the charge in the blockchain technology space, ultimately providing a means for monetisation of data. I am such a huge fan of this innovation which is occurring across the board in this space, users of Apps (or DApps in the blockchain sense) deserve to be rewarded for their data whilst having full control over their own data. Blockchain provides the means for this switch from the norm and brings harmony to what I can only call a greedy and unbalanced centralised world. This network will also allow app developers to get more out of their apps simply by using the data analysis capability of blockchain.

This article is going to give you a comprehensive overview of the “Swipe whitepaper”. I found this whitepaper very engaging and interesting, I will link it below in the further reading section for those of you wishing to do more research on this project. As always, please do not consider this investment advice, I am only sharing my opinion about this project.

Pain point

As described in my introduction the biggest problem is the fact that users of platforms rarely receive any benefits for their contribution. Swipe Network, (2018) state in their whitepaper that there is a huge problem with data monetisation, the system is extremely unfair, which de-incentivises people. They further state current systems are non-transparent and very unfair. Chang, (2018) adds that 94% of phone users will only download free apps, which leaves developers no other option but to release apps for free and seek other monetisation methods such as advertisements, in-app purchases and controversially “monetising users’ data”. This is a travesty in my opinion.


Source: Swipe Network, (2018)

The image above sums it up quite well I would say. All data about people is spread over various platforms, and this makes its near to impossible to create any decent user profile. They state in their whitepaper that more aggregation is needed and the process of data collaboration and exchange is very poor due to lack of incentives, lack of trust and monopolisation of certain sectors.

What I find interesting is that it is the centralised data intermediary companies which add to a lot of these problems. They are supposed to collect data but in fact are not very transparent about how they use and share this data, if at all. This all adds to wasted marketing costs, (10.9 billion dollars by 2021), according to Swipe Network, (2018). Chang, (2018) adds that it is very hard to create an app which is both useful and profitable due to the highly competitive nature of the sector and skyrocketing marketing costs. Adding to this, Swipe state that, 30% of a user’s “profile” information is incorrect due to data errors and they don’t have control of their data or have a say in where it ends up.

It is a known fact that data monetisation is at its early stages, I feel it is going to be the norm in the future. Platforms which lead the charge will be at the forefront of this revolution, in my opinion, I state this time and time again. It is just wrong that our data can be controlled by centralised intermediaries and used without our knowledge, why should others profit at our expense.

Solution

From reading the whitepaper it is obvious that “Swipe” is the solution to this problem. If you have been following my work regularly you will see I love projects like this. People can share their data anonymously on the network which will provide data buyers the means to purchase usable data. Swipe will incentivise data producers to share good quality data, it will be trustless and transparent because it operates on the blockchain. It also solves the problem of privacy and security because of the blockchain technology underlying it.

What you could call this then, is a platform which allows for fair and transparent data trading between users, app developers and data buyers, as stipulated by Swipe Network, (2018). This platform, in my opinion, will make this an un-parallel ecosystem for people to trade data. I fully believe blockchain and ledger technology is the solution to this problem, so buyers can rest assured data they buy is relevant and of good quality and users safe in the knowledge their data is safe.

According to the whitepaper the main benefits of Swipe are:

  • App developers can understand users better.
  • App developers can monetise their data on their apps easily.
  • App users can be rewarded for their contribution and get full control over their own data.

How they will achieve it


Source: Swipe Network, (2018).

As stated in the Swipe Network whitepaper, this platform will allow for aggregation of data to occur and analysis to be carried out on it, in a fully transparent and trustless manner. As it operates on the blockchain smart contracts will govern how data is shared, thus giving users full and safe control over their own data.

This approach to monetising data is the future. Swipe Network, (2018) state that they will achieve this via 2 methods:

  • Direct Monetisation: Datasets are sold/traded with other entities or through an intermediary. All of which may be packed into data packages.
  • Indirect monetisation: This data is used to improve internal processes within an organisation. Swipe tell us in their whitepaper that this is particularly useful in the mobile market and would allow longer life cycles on Apps. This data would be gathered via data analytics and used to improve apps and increase ROI on marketing.

As mentioned above, I believe data analytics is the focus of Swipe They want to be able to carry out analyses on their consumers in order to track consumer behaviour. I feel this new approach will be of huge benefit in the marketing stages of new products. Swipe network, (2018) state that the use cases of consumer analytics are huge, covering such areas as:

  • Audience segmentation- Can easily divide up target audiences.
  • Consumer behaviour analysis- Gain data from mobile usage and predicting trends in spending etc...
  • Advanced targeting and lead prioritisation- Filtering promotional content.
  • Data-driven marketing strategies-Covering a wide range of marketing activities/statistics in order to improve products.

How the platform works


Source: Swipe Network, (2018)

As can be seen, by the above image, the platform is broken into component parts. I won’t speak about all of these but in order to understand how this platform operates one must understand that the entire platform is driven by the “Swipe Brain”.

Swipe Brain Is basically where data analytics is carried out. This will allow users, buyers and producers of data to transact and trade in a transparent manner. All transactions are recorded on the blockchains ledger so it can’t be disputed. Auditing of data will also be possible, as mentioned in the whitepaper. This element operates both on-chain and off-chain (hybrid model)., according to Swipe Network, (2018). Smart contracts will govern the platform in terms of rules, privacy control, ownership etc… If you want to see how this operates in more detail please check out their whitepaper (further reading section) where they talk about the mechanics of how this works.

The process comprises of a data request framework and a data onboarding framework. I believe the overall vision for how this works is focusing on return on investment and learning more about consumer behaviour, all of these frameworks work around this principle. According to the whitepaper, it is the implementation of open schemes for mapping data which will make this all a reality. To keep this very simple it just involves a map of a buyers “output data package” and an “input data source” to find what they are looking for, according to Swipe Network, (2018). This data will focus on marketing at first but open out to a wider scope as the platform is developed. This is some pretty impressive infrastructure if you ask me.

To sum it up, Swipe is a decentralised network which will allow for transactions of data governed via smart contracts. The Swipe Network is built on top of the existing “SwipeRich mobile lock screen content delivery solution” (Swipe Network, 2018). What is amazing about this is that the MVP is already in place and operating, the team tells us over half a million people are actively using this platform already in Indonesia and the Philippines.

Swipe Software Development Kits (SDKs)


Source: Swipe Network, (2018)

I just want to touch on this area as it really is the cog which makes this platform operate, Software development kits (SDKs) are essential to the operation of this platform. These can all be implemented by app developers. This allows them to gather data about users and benefit from the Swipe Network architecture. It works as follows:

  • Swipe Push: Users simply download the app and content is delivered to the “lock screen on android and Widget on IOS”. What I love about this app is that operates so simply. Users can just swipe left or right on content (No not tinder guys). In this instance swiping left brings you to the contents page and right just allows unlocking of your phone as normal. All content is tailored to your preferences also. Swipe Network, (2018) state in their whitepaper that on average we check our phones over 150 times a day and that results to date show their method is 10 times more efficient than current methods. Advertisement analysis is carried out also to see your impression to them- “allowing for real-time reporting to advertisers” (Swipe network, 2018). This is a very impressive application on the Swipe network I have to admit, and it is already in operation, as touched on above in the previous section.

  • Swipe Ads: Swipe Network, (2018) state that this allows app developers to integrate advertisements to their apps alongside token rewards. What I love about this is that it gives the funding back to the developers where it is needed, advertisers lock in tokens to smart contracts, then automatically pays developers when users interact with their ads.

  • Swipe Marketplace: This is another great element. The Swipe marketplace, in their own words, will optimise marketing, track consumer behaviour, give mobile use statistics and allow for advertising, all within one platform. It is essentially a supermarket for “in-app items”. Developers can list these within the marketplace. Items can then be bought with swipe tokens. Interestingly Swipe Network, (2018) state they will build this marketplace based off of the “origin protocol” method. For those of you who are unaware, this is a sharing platform/protocol where users can trade services such as “use goods, car sharing etc…”. Xun, (2018) describes it as “WordPress that empowers developers and businesses to easily build and deploy decentralized marketplaces”. This is great because this is an extremely well-renowned platform for peer-peer marketplaces which is fully decentralised and borderless.

  • Swipe Mission: I believe this will allow users to take part in campaigns by developers. A reward pool will be used to incentives its use. Basically, people stake tokens to participate and users who complete it are paid in Swipe tokens. They state in the whitepaper that starting a mission is open to anybody as long as the requirements are filled beforehand (more details in the whitepaper).

Privacy

As with all projects I talk about, it is vital that users’ privacy and security is considered. I never invest time or money into projects which show no care for these elements. As Swipe focuses on the data industry, this becomes an even more important aspect for me. People will not use platforms which show little regard to this. Swipe network, (2018) state in their whitepaper that data providers control the access and sharing policies of the data they contribute, this is then all encrypted and fully secure. Blockchain allows for this ease of mind via the use of the private/public key, ledger and smart contract technology. You can check out some of my earlier work where I describe how all of this works in detail.

Token Economics


Source: Swipe Crypto, (2018)

This is another very important element to any project, I state time and time again that tokens need to have a real use case on the platform for which they were conceived for. In my view, Swipe Token also ticks this box. The Swipe token is the ERC-20 utility token used on the platform. According to Swipe Network, (2018), this will be used to reward app developers and users, and depending on monetisation rules, smart contracts will automatically allocate tokens to these parties. There will be an in-built wallet application on the Swipe Network to facilitate transactions of the token, furthermore, all SDKs will be able to interact with this wallet, according to Swipe Network, (2018).

Swipe tokens can be used within their marketplace, it is paid to users who interact with adds on the network and other reward features. Tokens can also be earned for participating in data monetisation campaigns (buying and selling data). Tokens can also be staked if you want to create/list a “mission” and on the reverse for completing missions by users.

The whitepaper further tells us that both developers and users need to opt into the “Swipe Network data monetisation program”. I then believe browsing data of the user is tracked via an SDK on the network. This “behaviour” is then consolidated into a data package which is purchased by buyers through the Swipe marketplace with Swipe tokens. By being part of these programmes, developers and users also get rewarded.

Furthermore, there is a staking mechanism built into the economics of the Swipe token. The whitepaper suggests that all stakeholders can stake tokens for “discounts and exclusive privileges” on the platform. This should incentivise people to hold the tokens and keep them locked up.

There really is a huge use case for this token, and by the sounds of it will be very beneficial to hold. All stakeholders are going to need the Swipe token to interact with and use the platform.

  • Advertisers need it to stake ads within the platform.
  • Developers are paid in Swipe tokens during data monetisation campaigns.
  • App users are rewarded with Swipe tokens for using the platform.
  • Data buyers purchase using the token.
  • Data producers are rewarded in Swipe tokens for their contributions.
  • Mission owners start missions with Swipe tokens.

As you can see the token is what ultimately runs the entire platform. The token sale has not been announced as of yet but I will keep you updated on this. I believe they delayed the token sale which was supposed to occur in September 2018 to approximately sometime in October 2018 due to market conditions. Below are some details about the token economics:

  • Token Ticker: SWC
  • Token Type: ERC-20
  • Total Token: 100 million
  • Accepted during the sale: ETH

Roadmap


Source: Swipe Network, (2018)

According to Swipe Network, (2018) the team are implementation a “2-pronged go-to-market strategy”. They see Indonesia, Southeast Asia and other emerging markets as early adopters in this space, this is very true, a lot of the cryptocurrency projects are targeting these countries, as you will find societies in these places are looking to makes advancements in their current infrastructure. Also, a lot of these places remain unbanked and the appeal of cryptocurrencies is huge. They also state there are huge mobile use statistics in these places which makes Swipe ideal for these places. They will then focus on attracting the global application development industry to drive growth. This is a great plan in my view.


Source: Swipe Network, (2018)

I wanted to show the above image just to show you how much this platform has been developed. SwipeRich was the catalyst for the Swipe network, and as you can see this dates back to early 2016 and they picked up some very influential partners in the space along the way, all the signs of an exceptional product. This is what you need to look out for when considering the next ICO to invest in. You need to find the projects which actually have some substance, these guys are just evolving from an already successful centralised platform


Source: Swipe Network, (2018)

Their development roadmap is also quite interesting. As can be seen, we already have a working product. Swipe push is already operating and I believe the Swipe mission SDK is also in operation. As I always state with the roadmap, make sure that their goals are attainable. This in my view is a very healthy roadmap. It won’t be until Q3 2019 that they will push marketing 100%, they want to have the platform optimised in performance before this. By 2020 we should have the fully integrated platform we learned about in this whitepaper. This is an amazing roadmap in my view, one which should make the milestones attainable.

Team



Source: Swipe crypto, (2018)

This is a very impressive mixture of team members and very influential advisors. I won’t go into detail on each of them, the whitepaper does a nice write up on the first 4 team leaders here, Clifford Lim (CEO), Andrew Marchen (CTO), Kuay Chong Sean (CSO) & Iyan Waer (COO). From what I read I fully believe that this project has the leadership and talented personnel to make this a huge success. I have full confidence in this projects team.

What is more, the team are going to leverage their existing centralised partners and will form new partnerships with very influential blockchain firms, such as “kentic & Digix”, as stated in the whitepaper. They also have several high profile data monetization partners involved.

Conclusion

What first drew me to this project was that I stumbled across their “SwipeRich mobile app” and I started to do some research into it. The Swipe network has come about from an evolution of SwipeRich, due to frustrations of having to deal with 3rd party centralised data intermediaries, as stated in the whitepaper. I am a huge fan of any project which is pushing the vision of a decentralised way of doing things. Swipe is certainly an example of one of these new exciting projects. They will tap into a huge market and give users a more fair, secure, private and exciting way to deal with their data.

I truly believe the team and advisory team have the expertise and vision to make this a huge success. What I really love about this project is that they are using Origin protocols architecture for their marketplace and working closely with Media Protocol for their reward sharing aspect of the platform. I wrote an article on Media Protocol before so please check that out, they are another very exciting project. This all adds huge credibility to this project and renders this a top pick for me in the ICO space.

I am amazed at the advances we have made in the technology space over the last few years. It does not seem too long ago when I was using a mobile with a no camera and playing the “snake game”, now I can do almost anything on it and see advertisements for products on the lock seen of my smartphone, and all tailed to my preferences. User data allows us to optimise what we see on our phones and gives advertisers the best possible platform to reach their target audience. Swipe already has “CepatSwipe in Indonesia and Agila Rewards in the Philippines, so they have already started their journey to mass adoption.

This platform just amazes me and the fact they have over half a million users in Indonesia and the Philippines just shows how successful this team already are. This is an example of a team who know what they are doing and have tailed a platform in a way to solve the many pain points we see today in this space. A truly amazing platform.

Final word

Lastly guys, I just want to stipulate to you that you should not take any of this as investment advice. I am not a financial advisor and urge you all to do your own research when considering any investment, this space can be very unforgiving and is very speculative in nature. Never follow somebody blindly; my job is to showcase projects I see with real potential, that is all. I hope you enjoyed this article and I will aim to find the next amazing project in due course. I thank you all for your support and ask for you to share my work. I would be more than happy to discuss any questions you may have in the comments section.

Additional Reading

References

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6 years ago in #cryptocurrency by
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     6 years ago  

    Looks like a decent project. Will join their telegram and read their whitepaper.

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     6 years ago  

    Yes they are a pretty well established team and project. Give me a shout if you need further information

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     6 years ago  

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