There are many potential use cases for blockchain technology. Most of those opportunities can be found within the financial industry, although one should look well beyond that sector as well. SWIPE is designed to solve the trust deficit in data monetization. Building a decentralized mobile engagement data platform to improve app engagement will be a very big challenge.
The Idea Behind SWIPE
Various companies have begun targeting the mobile data monetization industry. Consumers share a lot of personal information using their mobile devices, often without even realizing it. Unfortunately, this means users are not rewarded for their data, and no one knows how their data is used. Solving this problem may require the use of blockchain solutions such as SWIPE.
How Does it Work?
The primary purpose of SWIPE is to build a new data platform and infrastructure that lets developers improve overall app engagement. It does so by collecting data from apps through the SWIPE SDK. Users will be given the option to share specific information, while keeping the rest of their information away from prying eyes.
For users, being able to opt in or out of data monetization campaigns will be quite helpful. It gives users full control over their privacy and helps them influence overall data sharing policies. All of the data passed through SWIPE is end-to-end encrypted, which will ensure all information is managed in a secure manner.
SWIPE will also make use of smart contracts. Data requests and reward distributions will be logged in a transparent manner, and smart contracts will fully automate this process accordingly. Additionally, once a user gives permission to share specific information, the data will be re-encrypted for requesters’ access. An extra layer of protection can only be considered a good thing.
The Road Ahead
It is evident SWIPE has a lot of potential, although it remains to be seen whether any company or project will embrace this technology. A few pilot projects exist already, including AGILA Rewards in the Philippines, Cepatswipe in Indonesia, and Blockpost globally. These are all examples of how this technology can make a big impact on existing businesses, although there is still a long way to go prior to making a mainstream impact.