Really makes you think

>>2741193

>why not just use ETH
>Well we need our own token for max gains with our scam

just bought 100k

>>2741209
Why build on top of Ethereum blockchain using SWT instead using ether or building your own blockchain?

It gives us the ability to create reputation for each transaction we do. When SWT is transacted over a hashtag (smart contract) the people transacting get reputation on that hashtag. So, say in a rideshare scenario, a driver and a rider who transact on #needaride both get reputation for successfully completing the deal. That can’t happen in our ecosystem if SWT isn’t used."

1. There is a need to have economic incentives of participants in the platform aligned.

2. To eventually insulate the community from value fluctuations of other currencies.

3. It is a way to make the platform sticky. Since the value of SWT is closely linked to the success of Swarm City the participants are invested in the success of the ecosystem. That's not possible if you use ETH.

If reputation is tied directly to the completion of a transaction and not user rating, then can't that be tied to the contract itself? For the second point why is this not the case if both parties are using ETH?

by design SWT is deflationary, that is something that ETH is not providing. That means if we use ETH and create more transactions on the platform, it will not create more value for the platform. SWT can provide this because it is capped in amount and therefore more transactions will make it scarce and more valuable. This is an incentive for participants on the platform to create more services and activate more users.

In addition since we are open source, anyone can clone the platform. By doing so they can either use SWT and integrate the existing community and the Reputation that is built, or decide to create their own currency or use ETH and have to build their own community from scratch. It's a mechanism that open source projects should keep in mind to protect the product from copy cats.