“The advancement of technology has resulted in a large amount of automation which is slowly removing the need for human labor. We have not yet reached the point where human labor has become complete unnecessary, but steps need to be taken in anticipation of a world where scarcity is no longer an issue. We believe that providing every individual with a small amount of money can empower people to focus on doing what they love instead of what they are forced to do to make ends meet.” – SwiftDemand Mission Statement.
SwiftDemand is a simple platform serving a charitable cause, – providing basic income for everyone involved. In the future, however, Swifts have the ambition of becoming a word currency.
After a simple registration process (there is no need to have Twitter, or Telegram; an e-mail address and the registration process is done), you get 100 Swifts a day, which can be redeemed towards real-life purchases on SwiftDemand‘s internal store. If you forget a day, the Swifts will save up (up to seven days – or 700 Swifts). Every referral you attract to the system adds another 500 Swidts to your balance.
The internal store already features multiple (mainly digital products and services, such as coding, designing, translating, however some physical products are also listed for sale. The cheapest items sell for as little as 100 Swifts (i.e. there is a seller offering himself as ready-to-register Referral for 100 Swifts per registration). The most expensive items come at 15,000-20,000 prices, which are also not unobtainable. Claiming takes two seconds (literally):
In short, 100 Swifts which you get by simply visiting SwiftDemand’s website once every 24 hours (no captcha, or even logging in is required) can already buy you something; the prices on the Store are very liberal. 100 Swifts might not solve the world’s poverty, but some of the products listed on SwiftDemand are quality and, expectedly, the range is limited only by the processing power of pre-moderation (anyone can take part as a Seller). The system has been around (and working well) for months.
So, what is it that SwiftDemand accomplished? The team created an online marketplace with an existing customer base and an existing seller base. Reportedly, although, technically, Swifts are currently worth close to nothing, there is a big cue of sellers lined up to list their products (and services) on SwftDemand. In effect, the platform has introduced an operational value-exchange system out of thin air and it was a matter of time before the time to monetise upon the existing supply and demand came, as per the Roadmap… Finally, the first Token Sale is here. Noteworthy, the Token Sale has not been advertised at all (the announcement hardly came a week in advance), came at a timing when the price of Etherium falls by close to 55-8% daily and no effort was made to “pretty up” the Store to sell most to most “investors”. On the other hand, if there was ever a time when investing is cheap, it is now. What if Ether bounces back to its original value in a week?..Q: Does this mean that the daily free Swifts will stop being issued?
A: Not at all. A 5% inflation is expected only after the amount of Swifts in circulation exceeds 100 billion (after the ICO about 70% of that will be filled). However, you cannot sell your Swifts within the Token Sale framework this time.
Q: What is SwiftDemand good for at present?
A: Purchasing of cheap digital goods and services. However, SwiftDemand needs to face the problem of incentivising the sellers financially. At present, about 80% of Sellers will either respond late, or not respond at all, especially as Services are concerned. The situation is (much) better with goods (e. g. ebooks), but the quality of the material on offer is not spectacular. If that problem is solved, which is not too difficult (as well as minor technicalities, such as communication within the system, Feedback ratings, refunds), the marketplace will flourish.
Q: I am not interested in charitable causes and have no need for cheap digital goods. Is there investment potential in SwiftDemand?
A: The Swift team has managed to create an economic microcosm which functioned with no financial influx. In short term other platforms present more attractive investment opportunities, jhowever SwiftDemand deserves at least the investment of a few minutes for registration.
What could be the reasons behind the sudden Token Sale? Perhaps, the ambitions of the Foundation are costly (feel free to read the Swift Protocol Whitepaper, which is .an impressive read for a simple “charity”), or some form of a wake-up-call is needed for the system as it stands today. In any case, it will be very interesting to see how SwiftDemand’s Token Sale goes by in a time of deep cryptocrisis. In any case, although ambitious, the stated intentions are good.
With the ICO in sight, join SwiftDemand today and start claiming your daily Swifts! Or join the system and apply as a Seller!
We will review the platform in further detail, however, for now, when shopping around, always look at the seller’s Feedback. To stay perfectly safe, avoid any purchase where the Seller has less than 4-5 Stars.