SwishCoin Review

Swish is a clever twist on an old idea: menus. Swish turns paper menus in electronic ones. The target market for Swish is small to medium sized shops; Swish will provide cheap and efficient PoS services to small businesses. To access this service, business owners need to register on the Swish site, create a menu and enter all their business details. When the system is setup, clients can access the menus via a mobile phone and an internet connection. Customers can find these pages by scanning QR codes posted in various parts of the restaurant or shop, clients will be able to order and pay directly using a credit card or a mobile phone for their purchases through the Swish pages.

Strengths

For investors:

• Already in Beta, this system is beyond the proof of concept.
• Most likely Swish coin will be hosted on the Etherum network.
• The Swish token holders will be part of a DAO; the DAO will hire an operator to manage it. This operator can be changed by the Siwshcoin holders. However, there is a moratorium on this change for the first six months.
• The people behind Swish have created Mycelium, a reputable cryptocurrency wallet. Thus Swish has an established and experienced firm behind it.
• According to Swish, the Swish business model has no issues with regulation whatsoever.

For Business owners:

• Increased revenue per m2 / square foot by turning several corners of the store into potential PoS points.
• Peak demand in a shop can be better managed by reducing the queue lengths at PoS and stress on staff. This will increase customer care as the staff can focus on selling rather the processing transactions.
• The payments of orders done through Swish will not be sent to Swish; they will be forwarded straight to the business’s bank account.
• Merchants do not need to register for a credit card account.
• Reduced Costs. Less staff and PoS (Point of Sale) hardware are needed.
• With Swish, it is easier for shops to handle a sudden influx of clients.
• Business owners have more options for creativity, for example, a customer can order pizza, while in the bar next door.
• Reduced risk of cash theft.
• Menus can be saved & displayed in different languages.
• The registration process for businesses on Swish is straightforward and quick.
• Customers do not need to wait in line when ordering through Swish.
• No third party apps. The system will work via a web browser.
• Reduced human error.
• There are other providers offering a similar service: Takeaway.com, Foodler and Menufy. However, these providers are online channels to shops. Swish strength is in becoming an alternative PoS while the client is already in the store. The business models could be confused, but they are fundamentally different.

Weakness

For the investor:

• The target of the IOC is 5,000 BTC, if this is not reached the funding balances will be returned to the investors.
• The distribution of Swish Coin after the IOC will be 25% to the IOC investors and 75% to early adopters and dev team, amongst others.In turn, the Swish will use these funds for development, marketing, advertising and bounties. On the one hand, this is a weakness because the ICO investors will have only 25%, on the other, the Swish coin whales have every interest to see the value of Swish coin going up, as they will have the most skin in the game.

For the business owner:

• Internet connection is needed.
• Commissions on sales need to be paid to the Swish network.