The dawn of a new era for Swash data

The upcoming Swash ecosystem will enable key stakeholders to create a "win-win" together by providing new incentives that meet the needs of each participant. The core of this article is to introduce you to the first solution that the Swash Ecouniverse built and rolled out on top of the Swash protocol technology and the value driver behind it all: the Swash Token.

Overview:

Swash, the world's first and most successful data alliance, is expanding into an all-encompassing data ecosystem;

System stakeholders -- individuals, businesses, and developers -- will be incentivized with new tools and monetization mechanisms to encourage their participation;

The first wave of solutions built on Swash's core technologies include Data Union, sIntelligence, sApps, and sCompute;

The Swash ecosystem will be powered by the Swash native Token--Swash (Swash).

Swash data validation

The Swash data ecosystem will enable true collaboration while unlocking unique value systems through innovative monetization mechanisms. Users' information will become part of the information economy in the future, contributing to the ecosystem and getting paid for it. Without compromising information transparency, privacy or individual institutions, the ecosystem serves the interests of everyone.

A data-driven world

There is a huge opportunity for everyone involved, and the most typical individual is the Internet user. Data is valuable, and its value will only increase, with the European Commission now putting the value of the data economy at a staggering $3 trillion.

And that's just the beginning.

With increased digitisation and the spread of embedded devices, each person is estimated to create 1.7 MEgabytes of data per second, and the global data landscape is expected to grow to 175 zabytes by 2025. Given these numbers, the role of people in this booming digital economy is vital and an opportunity for us.

Of course, people are aware of this and demanding higher standards. It is estimated that 81% of adults feel they lack control over their data as they become more aware of the impact it has on their lives. Scandals like Cambridge Analytica-Facebook, increasingly stringent regulations like GDPR and CCPA, and the imminent demise of third-party cookies are all driving this movement.

We're in an era when data's impact on society is clear, especially as big tech companies like Facebook and Google -- whose business models revolve around their ability to collect vast amounts of information about their users and use it for advertising -- become the most valuable companies on the planet. Whether through benign advertising or its application in political campaigns, or misinformation around COVID-19 health data, we urgently need alternative solutions that provide strong systems built on transparency and fairness, rather than supporting solutions that exacerbate existing problems without incentives to do better.

The tipping point of the data age

If we don't do something about the data dilemma, the world is at risk. In the information age, you are your data.

We have reached a point where data determines every aspect of our lives, but people have no ownership of their personal information. Not being able to control what happens to you; How this information is collected, used and sold does not capture any of the value it generates. Without the right technical skills, they cannot regain control or receive a fair share of the value of their contributions, leaving everyday Internet users at the mercy of monopolists with no way out.

Any business that wants to survive in this environment must have a unique insight. But the remaining data is expensive and of low quality because the monopolies hold vast amounts of information and form "islands". Data silos "make it difficult to access high-quality data and stifle innovation.

At the same time, tech entrepreneurs have to build without the hassle of communicating or rewarding users, exacerbating the power dynamics between online platforms and the people they serve. No one benefits from the status quo except big tech's stakeholders.

The dawn of the data age

As we enter a new decade, a paradigm shift is taking place in data. Driven by the Web 3.0 world, we are witnessing a movement toward more collaborative, sustainable, and transparent systems that serve the interests of the majority of people.

The combination of legislation and devolution offers a unique opportunity to open up the world of data ownership to the masses, giving people a say in what happens and fair compensation for their efforts.

This couldn't be more urgent. Data aside, the world has never seen such extreme income inequality. What would our world look like if the profits from the sale of data were shared by the people who created it in the first place?

The role of Swash

Swash was created to address these issues, and there is an urgent need to reform the way we currently process data. Rather than a system that takes agency from individuals, we replace it with a system where people can regain the dignity of data, businesses can thrive, and developers can easily innovate.

Building on the success and learning of Swash browser applications, the enhanced Swash ecosystem will bring individuals, businesses and developers together with revolutionary incentives to meet everyone's needs. Unique tools and innovations will make it possible for all participants to foster a new reality of data ownership and value creation.

"Swash is how we will be the new data is key part of the mainstream economy, no matter what we call it open financial or other data. We need the cornerstone, allow ordinary people to take control of their data, then these data into goods. This will most likely be a new form of national basic income."

-- Jamie Burke, Founder of Outlier Ventures

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