Monetizing Mobile Engagement Data on the Blockchain
Data has changed the way we think and act especially with the smartphone revolution. It is estimated that an average of person uses his device around 150 times a day with almost $ 88 Billion being generated in the last year alone. While the opportunities are immense, developers struggle to understand activity and monetize the data.
Today’s data monetization industry is flawed with brokers and conglomerates leaving users out of the picture and in some cases use data without the user’s consent. Incentivization has to become fairer. The industry requires a new model.
The Swipe Network provides users with incentives to share data anonymously while providing buyers with auditable reports. This enables fair transactions across a decentralized database where transactions are enforced by smart contracts. The objectives of Swipe are threefold:
Help developers understand customers better.
Allow developers to monetize app data.
Reward data providers for their contribution.
Monetisation is done in mainly two ways.
Direct — refers to datasets in the form of data package based streams (Excel) that can be sold or traded with other entities through an intermediary.
Indirect — refers to datasets used to improve an organization’s internal processes like Return of Investment (ROI).
Consumer analytics or market research requires extensive datasets which are used for :
Audience segmentation on the basis of parameters
Behavior analysis corresponding to transactions.
Problems Faced Today
The problems faced by the data monetization sector are the lack of incentives and trust between users and buyers or among users. The absence of a comprehensive model is also an issue that requires tackling. Today’s centralized intermediaries act as a trusted party but this model lacks transparency. Typically data is shared without user consent and is often flawed due to incomplete profiles. Users are not rewarded for contributions which makes them hesitant.
Swipe network is a decentralized platform based on smart contracts that aggregate and analyses data across a collection of apps. It addresses most major concerns of the sector by providing incentives to users, transparency, privacy, and security.
Swipe Brain is a data analytics platform built as a hybrid model of on-chain off-chain architecture that aims to build a platform where everyone can trade data fairly. It utilizes the blockchain to record transactions, manage lifecycles, distribute revenue and implement governance logic using smart contracts. Based on these rules Swipe Tokens are distributed among users.
Swipe Network when compared to its competitors is fair, transparent, possesses engaging, personalized and rewarding content, and gives total control to users.
Data Request Framework
Data requestor R requests certain datasets from the marketplace.
Swipe Brain processes the request and if data is available informs R.
R examines the policy of the dataset and if it is acceptable confirms this with Swipe Brain.
Now data is requested from the developer or the Swipe Brain SDK.
Developer encrypts data and provides it to the Brain who in turn sends it to R.
All data collected is encrypted with users public key allowing only authorized access.
Smart contracts are created.
Each request is forwarded to users who provide permission to access to data campaign.
Data is encrypted for buyers.
Whenever users wish to purchase data sets they pay in Swipe Tokens. As a reward for contributions or joining the network users and buyers are rewarded using Swipe Tokens.
Mobile interaction with Swipe
Swipe Push — allows interaction between developers and users on the lock screen itself ie the first point of entry. This uses the blockchain technology to ensure transparency and enables security mechanisms so that accidental clicks and bot traffic don’t flaw data. Used to deliver news mainly.
Swipe Ads — This allows app developers to integrate their inbuilt advertisement platforms with the Swipe SDK allowing them to be incentivized using Swipe Tokens as in most cases developers don’t know what ads are displayed on their apps.
Swipe Marketplace — A blockchain-based decentralized marketplace for an item listing, cross-promotion, and affiliate marketing among members.
Swipe Mission — Here users are rewarded for missions or tasks they complete like surveys, app installs etc.
Swipe Brain — Combined data collected is analyzed in order to provide reports with greater depth and better insights.
Swipe is based in Singapore and was built in order to counter issues faced by their first product Swipe Rich which had a 3rd party centralized model. With the advent of blockchain tech, the founding team believes that a decentralized model can be achieved that benefits providers and buyers equally and fairly.
The team at Swipe Network is led by Clifford Lim, CEO — who comes with experience in building business models for large multinationals, Andrew Marchen, CTO — an entrepreneur and advisor to numerous startups, Kuay Chong Sean, CSO — an experienced hand at communication software and networks and Iyan Waer ,COO — a seasoned technologist with groundbreaking vision.
Swipe also has a strong panel of advisors like Jehan Chu and John Fioreli and other blockchain experts.