Hello,
Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to
introduce to you the AMA session with our friends from Swash and our guests was
@chloe_diamond. The AMA took place on 24 August.
The
AMA session was divided into 3 parts with a total crypto reward pool of 500$
In
this AMA Recap, we will try to summarise the most interesting points for you.
Part
1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased
to announce AMA with Swash .
Today our guest is @chloe_diamond 🤩
Chloë | will never PM you first: Hi everyone 👋
Happy to be here
Andrés M. | Satoshi Club: Hello Chloë, is a pleasure to have you here😃
Gold Rocket | Satoshi Club: Nice to e-meet you😊
Chloë | will never PM you first: Likewise ☺️
Gold Rocket | Satoshi Club: Thanks for joining guys!
Let’s start!
Chloë | will never PM you first: Ready when you are!
Gold Rocket | Satoshi Club: Introduce yourself please. How did you get to be
involved in crypto & Swash?
Tell us please about
your position in Swash?
Chloë | will never PM you first: Sure. My name’s Chloe and I’ve been working in the
crypto space since 2017, but interested in it since 2014. My background is in
marketing and communications and that’s my role at Swash too. I joined last
year to grow the community and to tell the world about what we’re doing at
Swash
Gold Rocket | Satoshi Club: Wow! you are an early bird 😁
What is the essence of
Swash?
Chloë | will never PM you first: I guess so!
The essence of Swash is
to create a fair data economy by redistributing value back to people. We’re
planning to scale Swash into 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 are incentivised
to share their data so that they can earn while retaining their privacy.
Businesses can access high-quality, zero-party data that was previously
inaccessible in a sustainable and compliant way. Developers can easily set up
and build systems within a collaborative development framework.
Gold Rocket | Satoshi Club: This is very timely in my opinion.
How long does it take
to develop a project? What plans do you have for the future? And what can we
expect from Swash?
Andrés M. | Satoshi Club: Very interesting idea, we are in the age of data.
Chloë | will never PM you first: Swash has been around for 2 years already,
launching in late 2019 (https://medium.com/swashapp/weve-open-sourced-swash-to-make-data-unions-a-reality-7049e92c364b?source=collection_home—6——2———————–)
and building in public ever since. We’ve
grown to over 60K+ users who believe in the mission and now we’re evolving
Swash into a universal data ecosystem. Our roadmap spans until 2024, which you
can read more about on our website (https://swashapp.io/token
) and whitepaper (https://swashapp.io/static/files/paper/whitepaper-v1-july-2021.pdf)
Gold Rocket | Satoshi Club: Also we would like to know more about your team.
Who is on the project team core?
Chloë | will never PM you first: Definitely! A lot of trends are pushing us in this
direction: the end of third-party cookies, increasing regulation like GDPR and
CCPA, increasing demands for data rights…
Gold Rocket | Satoshi Club; This is an incredible result.👏👏👏
Andrés M. | Satoshi Club: How did you choose the name of the project?
Chloë | will never PM you first: 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
Great question! You can read more about the concept of Swash here (https://swashapp.io/brand-assets). Swash is the name for water as it washes up on the shore. We see Swash as a first step into new lands, exploring uncharted waters while recognising the power of people working together – one drop💧 may not seem like much but noone can deny the force of the entire ocean 💪🌊
Gold Rocket | Satoshi Club: Is your team anonymous?
Andrés M. | Satoshi Club: Amazing, I love the concept of the brand and the
logo, very creative👏
Chloë | will never PM you first: No, you can see the team here: https://swashapp.io/token
Gold Rocket | Satoshi Club: Thanks for sharing
Chloë | will never PM you first: Thanks! I guess you’re a fan of sci-fi 😊
Andrés M. | Satoshi Club: Absolutely😁
Gold Rocket | Satoshi Club: Thanks for great introduction, we will have several
questions selected for the Part 1. Ready to start?
Chloë | will never PM you first: Sure thing, shoot 😊
Andrés M. | Satoshi Club: I’m happy to know you are a public team, that
generates confidence
Let’s go 🥳
Q1 from Telegram User @iam12312
Swash’s slogan is “YOUR DATA, YOUR INCOME,
I see majority of the Companies provide these
platform for free to users as It does benefits Projects in many ways
If I talk about Traditional world then Google ,
Yahoo ,Twitter, these all companies have Different Revenue system & In
2020, Google generated around 81% of the revenue through Advertising, I wonder
how Swash is going to make money from the platform?
What are the other ways that Swash makes money?
Chloë | will never PM you first: Sure, so Swash receives 30% of profits made from
data sales, the rest is distributed to members. Each solution provides added
value streams and some, such as sApps (applications built on Swash) offer new
opt-in methods for people to make even more from their contributions. An
advertising solution, called sAd, will use Swash data to create a fair,
transparent, and efficient advertising platform. That’s just one of many, but I
feel it relates closest to your question. More details on that can be found in
the whitepaper.
Andrés M. | Satoshi Club: Who received the data you sell? Who are your
partnerships right now?
Chloë | will never PM you first: When we sell the data, the types of businesses who
will purchase include market and analytics companies, AI/ML startups, hedge
funds, advertisers and brands, and researchers, to name a few.
Our partnerships
include Chainlink, Streamr, Ocean Protocol, Outlier Ventures, Boson Protocol, Amasa, 1 World Online,
Tapmydata, Crunch Digital Media, and the DPPA. The world of decentralised data
is an incredible, collaborative space to be!
Andrés M. | Satoshi Club: Big names there, congratulations👏😁
Gold Rocket | Satoshi Club: Indeed😊
Chloë | will never PM you first: For sure, they’re great teams to work alongside 😊
Andrés M. | Satoshi Club: Well, would you like to add something before the
next question?💪
Chloë | will never PM you first: All good, go for it
Q2 from Telegram User @Jmagsss
Swash’s native token, $SWASH, has a lot of use-cases
and utilities within Swash’s platform and ecosystem. From incentives,
computations and governance, $SWASH will be used accordingly and transparently.
I was curious about your token cross-chain support. It says on your whitepaper
that Swash’s token would be built for both BEP-20 and ERC-677. It is rare to
see tokens that has ERC-677 support because others mostly use the standard
ERC-20. Why did Swash opted deploy its Ethereum network support under the
ERC-677 interface? What could be its advantages against the commonly used
ERC-20?
Chloë | will never PM you first: Great question!
SWASH will originally
be minted on Ethereum then bridged to other networks like BSC, xDai, and
Polygon.
The reason we chose
ERC677 instead of the ERC20 is because the ERC20 standard isn’t well designed
for cases where a contract wants to execute actions after receiving an ERC20
token. For the ERC-20 tokens, they should first allow the contracts to transfer
their tokens, then the contract can transfer tokens from their wallet using the
transferFrom function of the ERC20 contract. This basically means that two
transactions should be executed (e.g. when swapping tokens in Uniswap).
ERC-677 is a solution
for this, providing a transferAndCall function which allows users to send
tokens to contracts and for the receiving contract to receive the tokens all in
one transaction.
ERC677 has all the
benefits of ERC20 while addressing its limitations. It is more advanced and
allows for more functionality which is why its used by the likes of Chainlink
also. It’s fully compatible with all the ERC20 and mainnet infrastructure and
tools while offering a better UX experience and lower costs!
Gold Rocket | Satoshi Club: It’s really make a sense👍
Andrés M. | Satoshi Club: Interesting decision. Btw, what are the main
usecases of $SWASH and which benefits it provides for long term holders?
Gold Rocket | Satoshi Club: and please share your tokenomics with Satoshi
Clubbers😊
Chloë | will never PM you first:The main use cases for $SWASH are:
– 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.
For long term holders,
the value of Swash will increase with adoption and growth of the ecosystem. As
more people join, not only does the value of data become more valuable but
adoption of the $SWASH token will increase also, so there’s plenty of incentive
to get in early.
Plus, as demand for
$SWASH will increase alongside network adoption, generated value may be used to
balance the token supply, likely through periodical token ‘burning’ 🔥
Tokenomics will be
released soon – best to join the Swash Tg channel or subscribe to our
newsletter to be the first to know!
Andrés M. | Satoshi Club: Wow you have created a big ecosystem with an strong
token 👏
Thank you so much for
the detailed answer, now is time to proceed with our 3rd question.😃
Q3 from Telegram User @Rotoxy
SWASH will operate a trusted Governance DAO and From
your tokenomics, 14% of SWASH is allocated for ecosystem and DAO growth. I read
that your DAO system will operate as a semi-decentralised structure that will
combine centralised and decentralized governance structure. Can you explain how
your governance model will strike a balance between a non-democratic central
governance and a democratic community oriented DAO? How are proposals made and
how will you achieve optimum governance by incentivising stakeholders in a bid
to ensure accelerated decisions making process? How will the SWASH allocated
for DAO growth be shared or distributed?
Chloë | will never PM you first: Decisions relating to the technology roadmap are
made by the team, so that’s the centralised part, but decisions related to
network parameters (like the network fee) and decisions around funding projects
that integrate their solution with Swash will be made by the DAO. The
distribution mechanism of the DAO pool will be announced during the project
development.
Andrés M. | Satoshi Club: Please share us the roadmap to know what else is
coming for swash
Chloë | will never PM you first: Sure, check out section 9 of the whitepaper (https://swashapp.io/static/files/paper/whitepaper-v1-july-2021.pdf
)
Andrés M. | Satoshi Club: Thanks for share it, ready to proceed with the next
question?😃
Chloë | will never PM you first: We have:
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
Chloë | will never PM you first: Sure thing
Q4 from Telegram User @yellowchamp
Does Swash App available through mobile application?
If not,do you have plan to launch your own mobile application? When can we
expect Swash app to be available both IOS and Android for easy access of your
users? What will be its innovative features while it is being upgraded with
mobile version? Thank you
Chloë | will never PM you first: Swash is currently available on Android for Kiwi
and Yandex, although a mobile version of Swash for all browsers is in the
works. It’s a priority for us to expand Swash to mobile to cater to wider
audiences and it will be one of the developments alongside our First Wave
Solutions – all of which seek to bridge the gap and provide even more value to
the community 😊
Andrés M. | Satoshi Club: Great, that helps with mass adoption😁
Chloë | will never PM you first: Yep!
Andrés M. | Satoshi Club: Btw, is any kind of KYC needed to join your
platforms?
Chloë | will never PM you first: To use Swash?
Andrés M. | Satoshi Club: Yes
Chloë | will never PM you first: No, there’s a very short onboarding process (it
takes just a few minutes). The setup process creates a wallet for you and asks
for some basic demographic details (nothing that can be used to personally
identify you) to create a less-fragmented dataset
Andrés M. | Satoshi Club: Great job, privacy is very important, that’s what I
want to ask about audit? Have you done any audit process?
Can users be sure that
their info will not be stolen?
Chloë | will never PM you first: Yes, audited by Certik. We will be sharing details
along with more info on token itself over the coming weeks
Gold Rocket | Satoshi Club: Safety first 👌
Thanks for your answers
Andrés M. | Satoshi Club: Don’t forget to share it with our community in the
future😃
Chloë | will never PM you first: Unfortunately, peoples’ data is being stolen in the
existing model which is exactly why Swash was born! People can be certain that
their data won’t be stolen – we have measures in place to ensure that the data
is stored properly, and it’s anonymised and end-to-end encrypted for added
security.
Chloë | will never PM you first: Yessss 😊
Q5 from Telegram User @Right_clicK1
There is no argument that when its get to a certain
stage of browser usage, it slow down effectively because it uses too much CPU
and RAM. Adding plugin on such a browser now will add more to its problem. Can
you briefly tell us about the technology used to build Swash plugin, how heavy
is it going to be in a browser? And going through your whitepaper, I could
identify up to 15 Swash elements with less details about them, can you
enlighten us how each of them works in this project?
Chloë | will never PM you first: Definitely!
Good point! This is
something we’ve been conscious of since day 1. We’ve released at least 15
versions of the extension over the last two years and have more than 60000
people who have installed it and, so far, there hasn’t been any major report on
CPU or RAM usage. The extension is developed using Chrome and Firefox SDKs and
is mostly based on Javascript, Typescript, and React.
Even though our
whitepaper is pretty huge, we actually reduced a lot of technical descriptions
relating to the architecture to simplify it and make it easier to read. If you
have specific questions, feel free to message the team in the Swash official
channel.
Andrés M. | Satoshi Club: Thank you Chloë, that’s an important Technical
topic.
Now, before proceed
with 6th question could you tell us how to buy $SWASH? It looks like a good
opportunity to be an early investor 😁
Gold Rocket | Satoshi Club: Thanks for your great answer😊
Chloë | will never PM you first: Details of the public sale will be announced shortly 🤫 for private investment inquiries you can connect to us through the Swash Telegram
And don’t forget to subscribe to our newsletter for those updates too!
Q6 from Telegram User @JesusFre1tes
Environmental causes, children’s charities and COVID support are just a few of the many social good organizations you can contribute to through Swash. This is truly amazing and noble. My question is, why have you decided to earmark part of your profits for redistribution in this way? What are the charities that the Swash team is currently focusing on? What percentage of profits has been earmarked for this noble purpose and what impact will this noble cause have on the development of your project?
Chloë | will never PM you first: Oh this is one of my favourite topics!
There are several
reasons why we will be bringing a donation feature to Swash:
1. Following the Ecosia
model (they have 16 million users!), people are motivated by being able to do
good without needing to change their habits
2. Attracting larger,
more diverse audiences through social goods orgs and promotion to their own
communities will increase the value of Swash data (more data + more diversity =
more value for everyone)
3. At least to start
with, the amount people can earn through Swash might not be very much to make a
big difference to their lives. But to know that they can automatically donate
it and make a difference to someone else is huge
4. If Swash can make it
easier for people to make a positive difference, then why not make it
possible?!
The charities we are
focusing on are those who already accept cryptocurrencies as donations. If you
know of any, please share and we can consider adding them too 🙂 The percentage of profits donated is up to
the individual.
In terms of the impact
this will have on Swash, it’s important to remember that data is unique in the
sense that the more of it there is, the more valuable it becomes. Connecting to
new audiences not only grows the number of people in the Swash community, but
it also means bringing in more diverse audiences.
Swash is designed in a
way where people don’t necessarily need to understand crypto, blockchain, or
the world of data to be able to start earning, so even less tech-savvy people
can get involved and, if they like, automatically donate to their chosen social
goods org. Increased size and improved diversity within Swash data makes it
more valuable, returning even more value back to Swash members!
Gold Rocket | Satoshi Club: absolute mass adoption😁
Andrés M. | Satoshi Club: It is always good to give to those in need, part of
what has been given to us. congratulations on that noble policy
Gold Rocket | Satoshi Club: By combining charity and business, you make this
world a better place.😊
Chloë | will never PM you first: Great, looking forward to it
Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our
AMA. Live questions. 😁🚀
Chloë | will never PM you first: Thank you both!
Part
2 — live questions from the Telegram community
Q1 from telegram username @xperia3
Hi! ✅
What are the plans of Swash to create an awareness
in the community about the importance the personal data? How will you educate
people?
Chloë | will
never PM you first: I love this
question – it’s so urgent! Of course, alongside the materials we share about
the data economy in general, Swash actually allows people to put their data
rights into practice. By showing people exactly what data is captured and then
giving them the option to choose whether to share that particular data point or
not allows them to practice having control and ownership over their data while
learning what data is actually considered valuable
Q2 from telegram username @meml97
🧨
It caught my attention that Swash claims that: “Swash operates on a
better-than-free model”. But if I’m honest with you, this is the first time I
see such thing, so, can you tell us more about this and what does it mean to
have a “better-than-free model”? What advantages this model provides to your
platform and how is it a better option for it than any other available model?
Most importantly, what kind of benefits does this “Better-than-free model”
allows you to provide to your users as an all-inclusive data ecosystem that
puts people first? @chloe_diamond
Chloë | will
never PM you first: Happy to! Many
of us know how web 2 operates with free services (such as Facebook or Google).
Unfortunately, those services are free because they rely on extractive systems
that don’t bring any value back to the users on the platform. Better-than-free
means that, not only is Swash’s service free to individuals, it actually pays
them!
Q3 from telegram username @surendra040
How can I do my research about your project? Do you
have any whitepaer released and can you provide me all the social media links
and blogs?
Chloë | will never PM you first: Sure, here are some useful links:
Whitepaper(https://swashapp.io/static/files/paper/whitepaper-v1-july-2021.pdf
)
Website (https://swashapp.io/token)
The genesis blog (https://medium.com/swashapp/the-dawn-of-a-new-age-of-data-eff0d8b2f0a4)
Twitter (https://twitter.com/swashapp)
Telegram (https://t.me/swashapp_group)
Q4 from telegram username @cryptofollower
After adding Swash browser extension, how will my
wallet fill with tokens and how can I get paid for my data? Do I have to stake
any tokens for this?
Chloë | will never PM you first: Once installed, you don’t have to do anything! You
just leave it on and it works for you in the background. You can stake tokens
to earn more though
Q5 from telegram username @Lucybabu1
How important is the community to you? and How can
we collaborate or help you for the development of the project ??
Chloë | will never PM you first: Swash is a community-first project. It’s entire
ethos and model is built on the power of redistributing value back to everyone
involved. Swash works because all ecosystem stakeholders – people, businesses,
and developers, are incentivised to participate.
The best way to support
is to spread the word! The bigger the community, the more value everyone gets
in return
Q6 from telegram username @Shaa93
The first wave solutions to be built on top of Swash
core technology include Data Union, sIntelligence, sApps, and sCompute. Can you
introduce these 4 core technologies?
Chloë | will never PM you first: Happy to.
– Data Union:
Optimising individual agency as a collective force by rewarding union members
for the value of their data
– sIntelligence:
Bringing unique insights to businesses across all industries through a
customisable, comprehensive web-based platform
– sApps: Expanding the
Swash ecosystem with the tools, community, and culture for building the next
era of data solutions
– sCompute: Uniting
innovation with access by making on-site data computation capabilities a
reality
Check out this blog (https://medium.com/swashapp/the-dawn-of-a-new-age-of-data-eff0d8b2f0a4
) or whitepaper (https://swashapp.io/static/files/paper/whitepaper-v1-july-2021.pdf
) for extra details!
Q7 from telegram username @cindy_crypto
What kind of partnerships do you have with Chainlink
and Ocean protocol?
Chloë | will never PM you first:
With Chainlink (https://swashapp.io/blog/swash-integrating-with-chainlink/
), we’re working with them to make proportional revenue distributions a
reality. With Ocean Protocol, we were their Day 1 Ocean Market Data Launch
Partners (https://blog.oceanprotocol.com/announcing-ocean-market-data-launch-partners-3b531601e63a
), we received a grant from Ocean Shipyard, and Bruce Pon (Founder) is one of
our advisors.
Q8 from telegram username @nguyenben
Swash, the world’s first and most successful Data
Union, is expanding into an all-inclusive data ecosystem. What is Data Union?
Chloë | will never PM you first: A Data Union is an organised structure that 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.
Q9 from telegram username @ItsMelissa3
If we use Swash, data we already give away for free
is captured while we surf. As I read Swash pools our data together with the
other Swash members to create a Data Union, when data buyers purchase the data
from that Data Union, its members receive their share of the profits generated.
How is the data value calculated? Is our sensitive data exposed? How are
profits divided? What percentage of the profits does the owner of the data
receive?
Chloë | will never PM you first: The price of data is difficult to answer, as the
industry is notoriously shady. As Swash grows, we hope to shine light on that.
Regarding what people can expect to earn, there has been research on it: Some
estimate $5-10 per month, others estimate $200, some say $2000, and another
says up to $24K per year! The data industry is vast and the EU Commission pegs
it at around $3 trillion dollars.
Profits are currently
divided equally but we’re working on proportional distribution. No, your
sensitive data isn’t captured in the first place.
Q10 from telegram username @NAZMP2
How does swash works? Can yous share us how can we
profit from it?
Chloë | will never PM you first: Simply put, Swash captures, pools, and sells your
data on your behalf. When the data is purchased, those profits are
automatically redistributed back out to the people who contributed their data.
Here’s how it affects
each ecosystem stakeholder:
For people:
– Regain ownership and
receive passive income as they surf the web
– Collectively invest
value of data into social development
– Exchange data value
for alternative ecosystem benefits
For businesses:
– Access high-quality,
zero-party data at scale
– Save time and money
by eliminating intermediaries and reducing ad fraud and bots
– Improve the
reputation and sustainability of business practices
For developers:
– Accelerate innovation
due to improved access to diverse data
– Be part of a new
generation of data solutions
– User acquisition
through incentivisation mechanics and communication
Part 3 – Quiz Results
As usual, for the third
part, Satoshi Club Team asked the chat 4 questions about the crypto project. A
link to a Quiz form was sent into the chat.
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