SWIPE is thrilled to formally introduce our partnership with Fysical, a decentralized location data market protocol. As both SWIPE and Fysical are targeting the data industry, we find common ground and are collaborating to facilitate and build the next-generation data ecosystem powered by blockchain technology.

Fysical’s target sector is the exchange of location data, which has become a significant component of complex data sets known today as “Big Data”. Location data is data that gives information about where a person is and where they have been to. Using advanced data analytics, models to predict and aggregate human movement and traffic can be generated, providing an immense use-case for businesses and governments. For instance, real-estate developers can select prime building locations based on pedestrian flow, hedge funds can conduct quantitative analysis of a retailer’s business performance by comparing foot traffic to sales.

With high quality and accurate location data, the possibilities are endless and economic efficiencies of an unprecedented scale can be realized, especially since the network of sensors and devices as part of the Internet of Things (IoT) is expected to grow exponentially. However, the traditional method of data purchase through centralized data exchanges is highly inefficient and lacks transparency. To elaborate, there is no accessible record of the data origin, and whether it was collected in compliance with user privacy. There are significant time delay and costs associated with verifying the authenticity and usefulness of the data set. Fysical aims to build a blockchain-based protocol that would enable peer-to-peer transfer, transparency, ownership and increase the efficiency of the data ecosystem.

Partnership Details

Data Monetization Partner

Fysical will be SWIPE’s location data monetization partner. Applications that integrate SWIPE’s Software Development Kit (SDK) would provide a voluntary option to enable location data tracking and collection, which can be monetized by supplying data onto Fysical’s location data marketplace. On behalf of the users, SWIPE would collect, aggregate and sell location data of users part of the SWIPE network, who are able to earn additional SWIPE tokens by enabling location data monetization.

In addition, Fysical intends to constantly add new types of data, such as transaction data and behavior data. SWIPE excels at these data sets, as our individual SWIPE SDKs such as SWIPE Marketplace and SWIPE Push Lockscreen is designed to track this form of data. Location data, when combined with other datasets such as those provided by SWIPE would be able to enhance Fysical’s data offering and open up new use-cases. For example, location data, combined with transaction data would yield useful information to a retailer about the product preferences of people across different geographical regions. Breakthroughs in data analytics can be realized in a cost and time efficient, accurate and auditable manner.

Conclusion

Fysical will be one of SWIPE’s network’s earliest adopters and will be a substantial buyer of data produced from the SWIPE network. Fysical has already established the groundwork is rapidly scaling to build a decentralized location data marketplace. According to Fysical’s whitepaper, it currently has 1000 data suppliers who contribute more than 15 billion data points from over 10 million mobile devices around the world every month. Our collaboration in a common industry creates a win-win situation.

“Fysical looks forward to working with SWIPE and the SWIPE Network to power a more transparent ecosystem that rewards users”

-Justin Mann, COO of Fysical

Co-Founder of Fysical, Justin Mann with CSO/Co-Founder of SWIPE, Sean Kuay at Blockchain Festival Vietnam

The SWIPE team thanks Fysical for their conviviality and we look forward to achieving breakthroughs in our journey to revolutionize the data industry.

About SWIPE

SWIPE aims to create a network of apps that are able to work together to create valuable data as a collective, instead of relying on centralized intermediaries. As part of the network, all data collected will be aggregated, anonymized and encrypted. It will then be channeled into an analytics engine which packages it to be monetized directly to data buyers in a decentralized data marketplace. This process provides transparency to data buyers as they can trace the origins of the data, creates a fairer way for app developers to monetize data and empowers users by giving them full control and ownership of their data. SWIPE is invested by Kenetic, a blockchain firm that invested in huge blockchain projects like Zilliqa, ICON, and Bluzelle.

About Fysical

Fysical is a protocol for the next data frontier, the physical world. With an initial focus on human location data, it provides the decentralized infrastructure for the next generation of big data: what stores you visit, where you travel, and how you move through the physical world. Fysical is the infrastructure for the transparent and compliant trade of location data on the blockchain. It is based in Singapore and is backed by Signum Capital.

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