Investing in coins I don't currently have. $100 a week for at least 10 weeks. Giving away free crypto each time I invest.
Week 5 - Swarm City (SWT)
Market Cap - $7,606,716
Price - $1.00
Supply - 7,572,564 SWT
$100 nets 100 SWT Tokens
https://swarm.city/
What is Swarm City?
Previously known as Arcade City (ARC), Swarm City is a decentralized commerce platform built on the Ethereum blockchain. The goal here is to revolutionize commerce by taking out the middle man. Arcade City was born out of defiance and quickly adopted in many cities on Facebook before the token was even released.
Swarm City is being released in three stages. Terminal, the first release, can be used to create a profile, as a digital wallet and to swap ARC tokens for SWT. Boardwalk, which was released mid June of this year, is Swarm City's Minimum Viable Product. It allows users to create and respond to requests, and to execute transactions with SWT tokens. The third and final release will be Storefront. This will be a polished, final version with all the bells and whistles.
When I first heard of Swarm City I thought it was just about ride sharing. That is what most people were mentioning. That's the reason it was created, makes sense. I thought it sounded pretty cool. To be an Uber driver you have to live in certain areas. There is no Uber or Lyft where I live... I've looked. Swarm City could be used in a town with a population of five hundred or five million. At the beginning of 2017, Uber was only supported in 67 cities worldwide.
The possibilities are much more than simple ride sharing. Swarm City could compete with multiple companies that are already popular. Uber and Lyft in the ride sharing industry. Air BnB and Home Away in the vacation rental market. Whatever local deliver service you have in your area, landscaping companies, even home cooked meals. Anything that you want done, put an ad up on Swarm City. The possibilities are endless.
Swarm City uses an escrow system (similar to BitBay) as a trust platform. We both send our SWT to an account and only after the transaction is complete is it released. Reputations are also gained after transactions are completed.
Swarm City is building everything on the old familiar #hashtag service. The hashtag is the context in which people are transacting. These hashtags are also smart contracts for the escrow system built in. Here's where it gets a little tricky. It costs 1 SWT to create a hashtag. The person who creates a hashtag is kind of like a moderator for that hashtag. When you use a hashtag you pay a small fee to the hashtag creator. It also takes .005 ETH (5 finney, as I just found out they're called) to create an offer and .003 ETH for a payout, since we are using Ethereum smart contracts. I believe, somewhere in the plethora of information I've read today, I saw that they are working on getting it so SWT is the only coin needed on the platform.
They still have a lot of work to do but I believe with dedication and, of course, good adoption, Swarm City could be something that everybody is familiar with in the future.
I will be giving away 25 SWT tokens. Just leave a working SWT address in the comments by Friday, August 4th and a winner will be chosen at random.
Week 1 - Gridcoin
Week 2 - BitBay
Week 3 - WeTrust
Week 4 - Vertcoin