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Information’ on ‘what,’ ‘where,’ and even the ‘direction of your attention’ act as the oxygen of today’s digital economy.

The Personal Data Conundrum

A new value stream in the form of Data Monetization has been making headlines for quite a while now. A June 2020 Forbes article terms ‘data’ to be a “non-rivalrous, non-depleting and regenerative (information) asset.” This means it can be explored unlike any other asset. Data as an information asset, explains Douglas B. Laney in their Forbes article, comparatively carries “relatively low inventory carrying costs and transit costs.” At the core of data monetization, though, rests the challenge of leveraging its economic property, ‘the right way—and not as a mere commodity.’

While there is no lack of companies exploring personal data of individuals in a variety of ways, not all of those entities are doing it ‘right.’ ‘Right,’ in a decentralized manner, means giving the people (the true data owners) the power. ‘Power’ in the sense that they can decide if they want to sell, protect, or monetize their data.

SwappFi: The Decentralized Democratization of Personal Data 

Swapp Protocol is one such promising entity. The ‘future of data,’ Swapp Protocol, lets you “Blockchain Your Data.” Via the Swapp App, Swapp allows you to decide if you want to protect your data (and do not want it being sold). Swapp also facilitates the selling or monetization of your data, earning you Swapp tokens in return. Swapp, though, goes a step further; it connects you directly to the companies interested in buying your data. Yes, that’s responsible data monetization—transparent and truly decentralized.

Swapp Protocol has as its goal to give your personal data’s control back to where it genuinely belongs—in your own hands. Swapp offers a decentralized marketplace that rewards people in return for responsible data monetization. Using blockchain technology, Swapp is making personal data safer and even more private. Revolutionizing the manner in which people earn money (from their data), Swapp entirely eliminates any middleman from the data monetization value chain. Swapp pays data owning individuals in cryptocurrency, at the same time providing them vital privacy.

Swapp is leading, as its mission, a herculean movement of injecting the right disruption in the US$1.2T/year data industry. Tech giants like Google and Facebook have been for years reaping the lucrative revenue from your very own personal data, giving you nothing. Swapp wants to change this unjust system, the right way.

Swapp Protocol is among the first decentralized exchanges (DEX) to launch on Crypto.com’s Cronos blockchain. “Swapp RE-imagines data monetization” via the blockchain. Removing the middlemen, Swapp distributes 100% of data revenue to its users as SWAPP tokens. SWAPP tokens’ initial minting, stakes’ opening and closing, and selling SWAPP for ETH, etc. can be done on an end-to-end basis. While this is done, the holder’s SWAPP tokens still remain under their own custody and control all the way (entirely).

Swapp is the DeFi arm of HubioID (a pioneering leader in the Big Data monetization industry). The Swapp Foundation has set its hopes around its generous efforts of offering the general public a trustless, decentralized, and an interest-bearing instrument. 

Swapp wants you to “start getting paid for the data you are giving away.” Go ahead, join the Swapp movement, regain your personal data control. Simply install the app, validate, and begin receiving payments for your data.

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Disclaimer: This article was written by a third party. The Cronicle does not endorse and is not responsible for, or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. The Cronicle is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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