SWIPE: Transparent and fair monetization of mobile engagement data by using blockchain technology

stazhao (61)in #bitcoin • 6 years ago (edited)

Data is like oxygen to the digital economy of modern age but at the same time data industry is facing a number of problems. The biggest problem faced by traditional data industry is the trust deficiency in data monetization. User data lacks transparency and fairness in monetization. The traditional model of centralized data brokerage has failed to meet the industry requirements. This centralized model is unfair and lacks transparency. The users have no control over their data and the buyers have no means of authentication.

SWIPE has provided a solution by offering a blockchain enabled platform. SWIPE Network is a blockchain based decentralized mobile data infrastructure that enables the app developers to engage the users directly and at the same time providing a fair and transparent monetization of user data.

Blockchain Technology and Data Monetization:

Blockchain is associated with some remarkable characteristics which include decentralization, transparency, privacy and efficiency. All these blockchain features in fact make the foundation of SWIPE Network.

The decentralized feature provides an opportunity to engage the stakeholders directly without involving any intermediary. This eliminates the need of middlemen and brokers in data transactions, hence making the whole transaction fair and transparent. It also makes the transactions cost effective by saving the intermediary fees.

The users retain their control and the data privacy is ensured by blockchain. It is totally up to the users to choose who they want to share their data. The privacy remains the top priority at every step and data management is secured by end-to-end encryption. Smart contracts enable transparent data requests and fair reward distribution. Blockchain technology also enables the buyers to verify the origin and authenticity of the user data.