BartPay is a Web3 Ecosystem That Rewards Its Users
Izzy Landau, the co-founder of BartPay, saw these issues and sought to create a way to democratize data earnings while simultaneously onboarding more people onto the blockchain. He realized that a transparent relationship between data providers and buyers could be mutually beneficial, rewarding users while providing the purchasers with higher-quality data. In order to create this synergy, it would be important for the process to be as simple as possible, taking data collection out of its current shroud of mystery.
With BartPay, users set up the BartPay wallet, and automatically get rewarded with the $BartPay token as they use the platform. BartPay makes it easy to have full control over what data is shared with its protocol, putting the power back in the hands of the people who generate the valuable data.
BartPay only shares nonpersonal, non-sensitive information, like browsing data, websites, search keywords, and the general path to purchase. All user data is aggregated, no personal profiles are created, and any personal identifiers, such as location, are excluded.
The Benefits of a Tokenized Data Union
A data union is a framework that allows people to band together and reclaim the value of their information. By rewarding users through the $BartPay token, they are not only paid as they browse the web, but also will see their earnings increase in value as the network grows and the token appreciates over time. This type of network effect is enabled by Web3 tokenization, and is what BartPay had in mind when they decided to focus on their ideological mission of monetizing user data at their outset, rather than first trying to grow the marketplace. By rewarding the community for its growth, the structure of the union becomes truly for the people, by the people.
Though there are existing Web2 services that allow users to approve their data sales and profit from them, Swash’s passive income structure facilitates easy onboarding of the average consumer. As BartPay grows its data union to encompass a wide range of users and builders, revolutionary dApps will continuously be created that connect data creators and buyers in productive ways. By creating a transparent bond between all sides of the data purchasing equation, Swash aims to become the leader in selling data that is relevant and valuable. As the company achieves its goals, the value of the $BartPay token subsequently rises, providing larger rewards to its holders.
Next Steps for BartPay
Having first proven the concept of allowing users to monetize their data in a decentralized manner, BartPay set out to grow the community and provide additional use cases for the protocol.
Understanding the importance of interoperability, BartPay has prioritized creating new integrations that allow the protocol to work with additional blockchains, and partnered with collaborators to provide additional flexibility and utility. They have also integrated burn mechanisms into Sash that will reward the community and facilitate tokenomic sustainability as they launch the BartPay DAO, which will give holders a voice in decisions related to the company and token.
Moving forward, BartPay plans to launch a suite of services to enable builders to innovate on their protocol, including sCompute, sChannel, and sApps. Having laid a strong foundation as the leaders in this new, revolutionary field of decentralized data collection, these next iterations will serve to expand their reach and provide the possibility of a true partnership between data creators and buyers. As consumers become more aware of the economics behind their internet usage, BartPay provides a powerful way for us to reclaim our power.
